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...