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Softbank Looking To Invest 2000 Crores in OLA

24Oct By NitishNo Comments

FUNDING

Softbank Looking To Invest 2000 Crores in OLA

As per Economic Times report, Japan's leading telecom giant Softbank looking to invest Rs 1,700-2,000 crore in India's leading Taxi aggregator Ola. This is the first funding investment from Softbank after Nikesh Arora Exit. According to the sources, " SoftBank is looking to commit more capital but Ola wants to control dilution". Ola was valued at about $5 billion when it closed $500 million funding from China’s Didi Chuxing and Scottish investment firm Baillie Gifford in November last year. The new investment will not increase the value. So far, Ola has raised about $1.2 billion and counts Soft-Bank, New Yorkbased investment firm Tiger Global Management, Russian billionaire Yuri Milner’s DST Global and venture capital firm Matrix Partners India as its largest shareholders. Las...

Now Book Ola, Uber Through Google Search in India

19Oct By Press Trust of IndiaNo Comments

News

Now Book Ola, Uber Through Google Search in India

Consumers will now be able to book a ride on Ola and Uber directly from Google Search. Earlier this year, Google had introduced the feature on Google Maps, where a dedicated tab with information for cab services was made available to Indian users, in addition to the existing driving, public transport, or walking options. "Now with this integration, commuters across the country can ask Google for directions and book ride services directly from Google Search," Google said in a statement. They will get to see a tab for ride services, both Uber and Ola, with fare estimates and pick-up times if a car is available near their location, it added. When a user requests for specific information like Taxi to Delhi or Ola/Uber to airport, the Google Search app or browser will direct the use...

Ola Fires 250 People Citing Non-Performance, Other Issues to Take on Rival Uber

4Sep By Press Trust of IndiaNo Comments

News

Ola Fires 250 People Citing Non-Performance, Other Issues to Take on Rival Uber

Within weeks of firing about 700 employees of its TaxiforSure operations, cab aggregator Ola has now sacked close to 250 people from its own workforce citing non-performance and other issues. The move comes as the Bengaluru-based firm is locked in an intense battle with global rival Uber in the Indian market. "An annual attrition of 3-4 per cent is a natural churn that is witnessed in the current industry scenario. This includes performance driven exits, contract roles as well as a few surfacing from constant business realignment," an Ola spokesperson said. The spokesperson further added that these have been "well thought through" organisational decisions, keeping in mind the best interests of employees and business efficiencies. The company, however, said it also inten...

World’s First Autonomous Taxis Hit The Road in Singapore

25Aug By NitishNo Comments

Automobile

World’s First Autonomous Taxis Hit The Road in Singapore

AP- The world's first self-driving taxis began picking up passengers in Singapore starting Thursday. Select members of the public can hail a free ride through their smartphones in taxis operated by nuTonomy, an autonomous vehicle software startup. While multiple companies, including Google and Volvo, have been testing self-driving cars on public roads for several years, nuTonomy says is the first to offer rides to the public. Its launch in Singapore is beating ride-hailing service Uber, which plans to offer rides in autonomous cars in Pittsburgh, by a few weeks. NuTonomy is starting small - six cars now, growing to a dozen by the end of the year. The ultimate goal, company executives say, is to have a fully self-driving taxi fleet in Singapore by 2018, to help cut the number of cars o...

Ola Shutting Down TaxiForSure, To Integrate Hundreds

19Aug By AnkitaNo Comments

News

Ola Shutting Down TaxiForSure, To Integrate Hundreds

ANI- Taxi aggregator Ola, which acquired rival TaxiForSure a little over a year ago in a USD 200 million (roughly Rs. 1,240 crores) deal is now reportedly shutting down TaxiForSure as a separate offering, laid off 700 employees and integrating its fleet a report stated here today. "The TaxiForSure (TFS) value proposition as an economy brand for customers has been seamlessly integrated onto the Ola platform with the launch and rapid adoption of Ola Micro," Ola said in a statement. The development comes at a time when the SoftBank-backed aggregator is looking to reduce its cash burn in comparison to rival aggregator Uber. "TFS has contributed immensely towards Ola Micro's success within a short span of time. Ola Micro has expanded to over 90 cities across India and accounts for the larges...

Ola Launches Intra-city Rental Service With Hourly Packages

11Aug By PriyankaNo Comments

News

Ola Launches Intra-city Rental Service With Hourly Packages

Taxi aggregator Ola has launched a new category to rent taxis called Ola Rentals to simplify intra-city travel with hourly packages across Ola Lux, Ola Prime (Sedan and SUV) and Ola Mini. Ola Rentals is available in 35 cities and will soon be rolled out in 100 cities across India, the company said in a statement here. It is aimed at servicing Ola Corporate customers and working executives who move from one meeting to the other during the day as well as individuals require the convenience of having a cab on disposal for diverse needs like local sightseeing, or shopping trips, it added. "Launched recently, the (Ola Rentals) category is already growing at a rapid pace and we are now taking it to the next level by introducing it for our customers on the Ola Corporate platform," Ra...

Didi and Uber Join Fight Against Ola in India

10Aug By reutersNo Comments

News

Didi and Uber Join Fight Against Ola in India

Didi Chuxing's acquisition of Uber's China business last week reshapes the landscape in Asia's growing ride-hailing sector, and leaves India's Ola more vulnerable to attack by Uber in its $12 billion home market. Four months ago, Ola executives met with Didi hoping the Chinese firm would invest fresh capital to help it fight Uber Technologies Inc which, with its deeper pockets, has made rapid inroads into India. They were told Didi wanted first to sort out its own challenges in China, said a person with direct knowledge of Ola's plans. Didi and Uber have raised and spent billions of dollars in a discount slugfest to win drivers, passengers and market share in China. Didi, now worth around $35 billion, last year invested about $30 million in Ola, which is also backed by Japan's ...

Uber Launches Scheme For Local Taxis and Autos

28Jul By RishabhNo Comments

News

Uber Launches Scheme For Local Taxis and Autos

Taxi aggregator Uber today announced the Mi Pan Malak scheme to encourage taxi and auto drivers across the megapolis to join its platform. Under the scheme, the drivers can avail of offers and services through Ubers partnerships with leading financial institutions and car manufacturers with a down payment of as low as Rs 25,000, Uber said in a statement here. (more…)

Lyft, Ola’s Global Partner Finally Steps Out Of US

12Jul By RishabhNo Comments

BUSINESS

Lyft, Ola’s Global Partner Finally Steps Out Of US

Ola's global partner Lyft Inc. now ready to open up outside its home US. The second-largest US ride-hailing company will "very likely" expand to other countries, said John Zimmer, the president and co-founder of Lyft. Against its rival Uber, Lyft has so far focused only on US, while Uber expands in several countries of the world. The smaller San Francisco startup is defending its home turf from Uber partly by spending aggressively on marketing, including promotions targeted at riders and drivers in major US cities. Speaking onstage at the Fortune Brainstorm Tech conference in Aspen, Colorado, Zimmer didn't specify when the company might expand or where it plans to go. A Lyft spokesman declined to comment. Lyft's global alliance includes China's Didi Chuxing, India's Ola and Sou...

Freecharge Ready To Compete With Paytm In Taxi Fare Payment

8Jul By RishabhNo Comments

News

Freecharge Ready To Compete With Paytm In Taxi Fare Payment

The taxi industry, with a potential of $7 billion to be reached by 2020( as predicted by SoftBank) has started sheltering e-payment besides cab hailing services. While everyone is familiar how Uber and Ola are striving to gain an upper hand in this sector, theres a silent battle brewing between the wallet and payment service providers Paytm (One97 Communication Pvt. Ltd) and Freecharge(owned by Snapdeal) to make the most of the taxi market. Paytm had already partnered with Uber, as it realized this great potential much before the Freecharge. It's already been accepted in many auto and taxi. Entering this market, Freecharge will enable cashless payments in at least 100,000 taxis by the end of this year. Freecharge claims to have on-boarded about 15,000 taxis already to accept cashless...

Ola to Invest Rs 350 Crore in Haryana Over 5 Years

28Jun By AdityaNo Comments

News

Ola to Invest Rs 350 Crore in Haryana Over 5 Years

Taxi hailing app Ola has signed an agreement with Haryana government to create over 10,000 entrepreneurs in the state with an investment of Rs 350 crore over the period of five years, the company said today. "We are proud to partner with the Haryana government to create more than 10,000 entrepreneurship opportunities across the state. To this end, we are planning to invest over Rs 350 crore in Haryana over the next 5 years," Chief Operating Officer, Ola, Pranay Jivrajka said in a statement. Ola will work with the Haryana government to introduce innovative and customised mobility solutions like Ola Auto, Ola Bike, Ola Share and Ola Shuttle across the state. "Ola's commitment to building mobility for citizens, by using mobile technology and by enabling entrepreneurship and skilling, will ...

Karnataka HC Extends Relax on Interim Ban of Ola, Uber Cabs

21Jun By Press Trust of IndiaNo Comments

INDIA

Karnataka HC Extends Relax on Interim Ban of Ola, Uber Cabs

The Karnataka High Court today extended till June 23 its interim order directing the state transport department not to seize cabs affiliated to Ola and Uber for allegedly plying without licence, and restraining cab aggregators from demanding surge price from commuters. Extending the interim order, Justice Aravind Kumar said "since the date of the interim order ends today, this court extends it till June 23." The order had directed the cab operators not to demand surge price from commuters and asked the Karnataka Transport department not to impound cabs affiliated to Uber and Ola for plying without licence. The High Court also admitted an application filed by Radio Taxi Operators, seeking permission to implead in the case, in a move to defend the governments on-demand transportation te...