Friday, November 22

Tag: Ola

Uber, Ola’s Indian Legal Woes Put SoftBank’s Funding in Firing Line
12Oct By reutersNo Comments
News

Uber, Ola’s Indian Legal Woes Put SoftBank’s Funding in Firing Line

Indian taxi company Meru Cabs has stepped up its legal challenge against local competitor Ola and U.S. rival Uber, alleging the firms are abusing their market position, and believes that planned investments in both by Japan’s SoftBank underscore its view. The head of Meru Cabs said the company has filed four new complaints with the country’s antitrust watchdog, claiming that Uber and Ola are abusing their dominance in four different cities by burning vast sums of investor funds to distort the market. “Even before there is any merger or alliance between the two through global investors, there is already a unified monopoly,” Meru’s CEO Nilesh Sangoi said. Though Meru lost an earlier antitrust suit versus Ola, lawyers and industry sources said that moves by SoftBank - already a major inv...
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Ola Confirms $1.1 Bn Fund Raise From Tencent Holdings
11Oct By RishabhNo Comments
FUNDING

Ola Confirms $1.1 Bn Fund Raise From Tencent Holdings

One of India's unicorn, Ola, operated by ANI Technologies Pvt Ltd has confirmed that it has closed a $1.1 billion funding from Tencent Holdings, a leading Chinese internet company. The round also saw participation from its existing investor- SoftBank Group and other new US-based financial investors. Ola also said that it is in advanced talks with existing and another investor to raise additional $1 billion, thus rounding off what may turn out to be a $2 billion funding round. After a billion scale funding received by Flipkart and Paytm, Ola is the third one to receive such massive funding this year. Flipkart leads them by having raised at least $2.8 billion  in two separate tranches from SoftBank, Tencent, eBay and Microsoft, followed by Paytm which raised $1.4 billion from SoftBank....
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Ola Raises $2 Bn From SoftBank Group And Tencent Holdings
3Oct By RishabhNo Comments
FUNDING

Ola Raises $2 Bn From SoftBank Group And Tencent Holdings

Another Indian Unicorn saw $2 billion fund raising on Monday. Ola- India's ride hailing company raises $2 billion from SoftBank Group Corp and Tencent Holdings Ltd, another high profile funding in this year after Flipkart which competes with Amazon. Although as per the Bloomberg's report the amount is not fixed for now and can change in the process. However as per The Economic Times Tencent has finalized an investment of $400 million in Ola, valuing the company over $3.8 billion. The paperwork from both the companies has been finalized and awaits approval from CCI. This funding will impact its rival Uber's position in India, on the one end where it is facing licence ban in London and multiple allegations. Other backers in the ride-hailing startup’s latest financing round included ...
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Indian Unicorn Startups To Launch Nasscom Like Lobby Group- Indiatech.org
28Sep By RishabhNo Comments
INDIA

Indian Unicorn Startups To Launch Nasscom Like Lobby Group- Indiatech.org

India’s Unicorn Internet startups Flipkart and Ola are grouping together with peers including travel portal MakeMyTrip to launch a Nasscom like industry body that will be representing their interests and aim to deal with deep pocketed rivals, and sustain their existence in one of the world’s most prized markets for digital commerce. The lobby group will be called Indiatech.org — and will be led by Sachin Bansal, as its President and Chairman; appointing a former IAS officer as its CEO, said four people aware of the matter. The former bureaucrat is expected to join in 2-3 weeks. The other founding members include online classifieds company Quikr and messaging platform Hike. “The group wants to become the Nasscom for the startup space,” said two of the people cited above. The formati...
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SoftBank Group May Invest $100 Mn In Rivigo Services
17Aug By RishabhNo Comments
FUNDING

SoftBank Group May Invest $100 Mn In Rivigo Services

After investing big in Flipkart, Paytm and Ola, SoftBank Group Corporation is looking to invest in another startup Rivigo Services, a transport logistics provider an amount of around $100 million as per the sources aware of the discussions. (more…)
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ANI Technologies, Ola Parent May See Some Investment From Microsoft
25Jul By RishabhNo Comments
FUNDING

ANI Technologies, Ola Parent May See Some Investment From Microsoft

American Multinational giant Microsoft may invest some money for a small stake in ANI Technologies Pvt Ltd, the company that runs Ola, in a deal where this ride hailing service will switch from Amazon Web Services (AWS) to Microsoft's Azure Cloud Platform. “The talks with Ola are in very early stages. More than the money, it is more about Nadella’s vision of partnering with more and more large technology companies in India and establish Azure as service of preference. Microsoft is likely to invest in Ola but a term sheet is yet to be issued,” one of the two persons cited above said on condition of anonymity. Ola is already in the middle of fund-raise and is currently valued around $3.5 Bn, and is the third most valued startups in the country. Ola has been in constant battle with Uber in ...
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Uber’s Rival Grab Set To Dominate In Southeast After Largest Ever Fundraising
24Jul By RishabhNo Comments
FUNDING

Uber’s Rival Grab Set To Dominate In Southeast After Largest Ever Fundraising

The Singapore-based ride-hailing service is getting $2 billion worth of investment from China-based ride-hail player Didi Chuxing and Softbank. The startup also expects to raise an additional $500 million from other investors as part of this round. Provided it closes the additional sum, the company’s valuation would top $6 billion, according to a source familiar with Grab’s fundraising. The $2.5 billion round is reportedly the largest ever single financing round in Southeast Asia and demonstrates just how ferociously the powers that be are battling for ride-hailing dominance in that part of the world. The Singapore-headquartered company says it has a Southeast Asia market share of 95 percent in third-party taxi-hailing and 71 percent in private vehicle hailing. It also provides car...
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