Ola | Pixr8 News

22Sep By Gauri SinghNo Comments

FUNDING

Top 5 Funding of The Week (17th Sept – 22nd Sept)

The most popular methods of fundraising these days for companies is either through investors or through the launch of IPO. Initially, the companies generally go for raising funds from the investors. This has become a vital part of a business and thus, here we have the top five funding activities that took place this week. This particular week was quite active in terms of fundraising activities. The company that raised the highest amount of funds was UiPath which is a Robotic Process Automation (RPA) software company that raised $225 million funds. Let's have a look on these funding rounds. Setoo A UK-based startup Setoo that turns insurance into a powerful business accelerator, transforming the online customer experience and generating new revenue str...

After UK and Australia, Ola is all set to Enter New Zealand

18Sep By Gauri SinghNo Comments

BUSINESS

After UK and Australia, Ola is all set to Enter New Zealand

The homegrown cab aggregator Ola has been on an expansion spree lately and is expanding itself in various international regions including UK and Australia. Soon after this, the company announced its plans to enter the New Zealand market starting with Auckland, Christchurch and Wellington. However, the date of launch has not been mentioned as of now. With this announcement, New Zealand becomes the third international market that Ola will enter into this year after rolling out its services in Australia in February and UK in August. For this purpose, the company has appointed Brian Dewil as Country Manager for New Zealand. “I’m excited to build the local team and business in New Zealand and provide a healthy contribution to the nation’s local mobility infrastructure”, said Brian Dewil, Co...

Ola Raises $50 Million to Compete With Uber in International Market

18Sep By NitishNo Comments

FUNDING

Ola Raises $50 Million to Compete With Uber in International Market

India's leading taxi aggregator Ola raises $50 million from Hong Kong-based Sailing Capital and the China-Eurasian Economic Cooperation Fund (CEECF). The SoftBank-backed company looking to battle against Uber in markets like India, the UK, and others. The latest funding round will make Ola's valuation around USD 3.7 billion and USD 4 billion. Ola, in an extraordinary general meeting held on August 31, 2018, approved the proposal to raise this amount through the issuance of 2,50,000 fully and compulsorily convertible preference shares, according to regulatory documents filed by Ola with the ministry of corporate affairs. Sailing and CEECF (state-backed investment fund of China) will together hold more than one per cent stake in Ola (run by ANI Technologies), it added. The lat...

Ola Witnesses Resignation from Two Senior Executives

7Sep By Gauri SinghNo Comments

News

Ola Witnesses Resignation from Two Senior Executives

With the exit of a lot of senior executives in various top companies, two senior executives of Ola have also stepped down. It has been reported that Saikiran Krishnamurthy and Joy Bandekar have left the company. Saikiran Krishnamurthy was popularly called Saiki among the Ola employees and held the position of a senior vice-president of growth in the company. Prior to this job, Saiki used to work at Flipkart a year ago. He was one of the highest paid executives at Flipkart when he was hired in 2015. Following the resignation, the latter is planning to start his own venture. Talking about Joy Bandekar, he was the corporate president of new initiatives at Ola. Prior to Ola, Bandekar also used to be a former Flipkart executive. He is exiting the ride-hailing company to enter the B2B e-co...

15Aug By Gauri SinghNo Comments

FUNDING

Scooter Rental Startup Vogo Secured Series A Funding from Ola, Hero MotoCorp

Bengaluru-based automated scooter rental startup Vogo has reportedly secured an amount of around $7 million (Rs 48 crore) in a Series A funding round. The latest round was led by ANI Technologies Pvt Ltd (Ola’s parent company) and Pawan Munjal (Hero MotoCorp chairman). The other existing investors namely Matrix Partners India, Stellaris Ventures, and angel investors also participated in the funding round. The funds raised through this funding round will be utilized by the company for the purpose of expanding its operations further in the cities it already exists, which include Bengaluru and Hyderabad. “We are trying to solve the use case for daily commuters who can probably walk 100 to 150 meters to pick up our scooters. These are all gearless vehicles which ensure that a cross-sect...

Ola Appoints Ben Legg as Managing Director of UK Operations

13Aug By Gauri SinghNo Comments

News

Ola Appoints Ben Legg as Managing Director of UK Operations

The ride-hailing service provider Ola has appointed Ben Legg as managing director of its lately launched UK operations. It has been reported that Legg will lead and build the senior leadership team, drive strategy and operations and build up a UK nationwide presence by the end of the year 2018. The company based in Bengaluru had recently announced its intent to enter into the UK which accounts for its second overseas expansion after Australia. Prior to Ola, Legg was associated with the New York-based global marketing technology company AdParlor, where he was CEO for two years. Before that, he was group CEO of Adknowledge, a digital advertising technology firm. He has also worked for Google Europe as the COO. Ben Legg, managing director of Ola UK said, “I’m excited to be joining Ola ...

7Aug By Gauri SinghNo Comments

BUSINESS

Now Book Ola Cab Service in England Too

Soon after launching its services in Australia, the cab-hailing major Ola is planning to foray into the United Kingdom (UK) market and has also received a license to operate in South Wales and Greater Manchester regions. The company is planning to launch its operations in the UK within the next month and claims that it would be the only ride-hailing player there that can legally offer customers both private hire and black cabs on its platform. Furthermore, it would expand more in the UK by the end of this year. “Ola is excited to announce its plans for the UK, one of the world’s most evolved transportation markets. The UK is a fantastic place to do business and we look forward to providing a responsible, compelling, new service that can help the country meet its ever demanding mobility...

Bengaluru-based ONN Bikes All Set To Launch the Dockless Bike Services

26Jul By Gauri SinghNo Comments

Automobile, News

Bengaluru-based ONN Bikes All Set To Launch the Dockless Bike Services

ONN Bikes, the two-wheeler bike rental platform that is based in Bengaluru has taken a step forward to provide a better customer experience and make bike rentals hassle-free and enable quicker intra-city commutes by introducing dockless bikes on the basis of hourly, daily, weekly, and monthly bike rentals. Since the introduction of cab services, going from one place to another has become very easy but gradually as the demand has increased, the prices are also going high. There are Ola and Uber for those looking for hired rides, but they sometimes have painfully long wait times or are unavailable. To eliminate this problem, bike rental services were launched. ONN Bikes is one of the leading bike rental services that currently operates in Jaipur, Udaipur, Bengaluru, Hyderabad, Delhi-NC...

Ola and Uber Cancel Orders from Tata Motors and the Reason is Cyris Mistry

16Jul By Gauri SinghNo Comments

News

Ola and Uber Cancel Orders from Tata Motors and the Reason is Cyris Mistry

The popular cab aggregators, Ola and Uber have withdrawn a substantial number of orders of around 2.7 lakh vehicles from the largest automobile maker Tata Motors. These companies that have been a valuable player in the ride-hailing space, obtain cars from automakers to make it available for the cab drivers on installments, but now it has lost a good number of orders. This event was the outcome of a clash between the chairman emeritus Ratan Tata and company’s former chairman Cyrus Mistry. “How will Tata Motors justify turning away any proposal for a guaranteed offtake?“ asked Tata. According to the reports, Ratan Tata was in talks with Ola co-founder Bhavish Aggarwal who was willing to obtain 10,000 Nanos and Indicas/Indigos from Tata Motors on an immediate purchase, a lease or a j...

Cab Aggregator Ola Starts Earning From Each Ride

16Jul By Gauri SinghNo Comments

News

Cab Aggregator Ola Starts Earning From Each Ride

In the financial year 2016-2017, the cab aggregator Ola showed losses of around Rs 4,897 crore. In the last year, it saw losses of over Rs 2,313 crore. But now, the company is finally gearing up in terms of growth and profitability. It has been reported that the cab company has started earning on every cab ride that it offers. This amount is calculated after taking into account other expenses including driver incentives and customer discounts. And this is how the company is overlooking considerable targets for profitability. "We will continue to focus on profitable and sustainable growth, and building a growing profitable business, the first in Indian internet," said Ola CEO Bhavish Aggarwal. With this, Ola will be earning profits on every ride that Ola complet...

Taxi Aggregator OLA Appointed Simon Smith as MD of Australia Operation

4Jul By AdityaNo Comments

News

Taxi Aggregator OLA Appointed Simon Smith as MD of Australia Operation

The former CEO of eBay Australia, Simon Smith appointed as a Managing Director of taxi aggregator OLA in Australia. Simon held various roles previously including Chief Executive Officer of eBay Australia, Non-Executive Director of Sportsbet, VP of Virtual Offices at Servcorp and a consultant at McKinsey and Company. "Simon is a very entrepreneurial and strategic leader who has demonstrated strong business and people leadership in his career. He will lead Ola's mission to build the future of mobility in Australia and create impact for the millions of consumers and tens of thousands of driver partners," Ola co-founder and CEO Bhavish Aggarwal said. Joining the company, Smith will lead the team and will work on building Ola's presence, including strategy, marketing, product development, ...

Popular Startups That Secured Funds From Ratan Tata

2Jul By Gauri SinghNo Comments

FUNDING

Popular Startups That Secured Funds From Ratan Tata

Indian industrialist and investor, Ratan Naval Tata who is well known as the former chairman of the popular conglomerate Tata Sons (one of the two holding companies of Tata group). Ratan Tata has done a commendable job in terms of investment activities and has been taking a keen interest in the Indian Startup ecosystem. With the help of his private investment company RNT Associates, Tata has marked his footsteps on various startups in the country. Though most of his investments are undisclosed amounts, it is a big honor for startups that are successful in bringing Ratan Tata on board. Also, you might be thrilled to know that Tata has been honored with the Padma Vibhushan in 2008 and Padma Bhushan in 2000, the second and third highest civilian honors awarded by the Government of India. ...