grabtaxi | Pixr8 News

App-based taxi aggregator Uber is looking to raise USD 2.1 billion in a fundraising round led by Tiger Global and other investors, valuing the company at USD 62.5 billion. The funds raised will be used primarily for investments in India and China, according to people aware of the development. Sources said that next round of investment for India will be announced early next year. US-based Uber in July this year had announced to invest USD 1 billion (about Rs 6,400 crore) in India in nine months to expands operations in the country. Interestingly, Tiger Global is also an investor in Ola, which competes with Uber in India. According to sources, Uber has filed paperwork in Delaware giving details about the fundraising wherein the company said it plans to raise USD 2.1 billion from ...

India’s largest cab aggregator Ola has joined international peers Didi Kuaidi, Lyft and GrabTaxi to form an alliance against San-Francisco-based Uber. The global alliance enables international travelers to avail cab-hailing services of the four companies through the same app they use in their home country. The partnership would provide ride-sharing coverage for India, China, Southeast Asia and the US, Ola said in a press statement. The arrangement is an extension of an ongoing pact between US-based Lyft and Chinese cab aggregator Didi Kuaidi. Didi Kuaidi had recently participated in a $500 million fund raising round at Ola. Ola, Didi Kuaidi, Lyft and GrabTaxi have collectively raised about $7 billion in external funding. The taxi-hailing business in India is heating up as...

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Ola joins global alliance to take on Uber