ride hailing company

Ola Acquires Public Transport App to Compete With Uber

4Apr By Sheldan RungasamyNo Comments

ACQUISITION

Ola Acquires Public Transport App to Compete With Uber

Ola, the Indian Ride Hailing company announced that the firm acquired public transport app, Ridlr whose software will be integrated in Ola and bring new facilities to users in helping with their commuting needs. This acquisition consolidates Ola’s efforts in digitalizing the public transport facilities in India and is undoubtedly an additional asset for the Indian ride hailing company to compete with their main competitor Uber as the competition between the two platforms intensifies week in, week out. Ridlr is an app that allows its users to search and book several public transport facilities on their smartphones. The platform’s patented Internet of Things (IoT) facilities allows digitalization of Indian public transport. Launched in 2009 by Ravi Khemani and Brijraj Vaghani, the plat...

Uber Sells its Southeast Asia Operations to Grab

Ride-hailing company Uber Technologies Inc came to terms with bigger regional rival Grab to sell its Southeast Asian business operations, both firms said in a statement released today. The deal now puts pressure on Alphabet Inc’s Google and China’s Tencent Holdings Ltd who both support Indonesia’s Go-Jek. The deal between Uber and Grab is Southeast Asia’s first big consolidation. This region is now experiencing fierce competition in the ride-hailing industry after Japan’s SoftBank Group Corp’s Vision Fund invested over a billion dollar in Uber and Grab. As part of the deal, Uber will now hold 27.5 percent stake in the Singapore-based company and Dara Khosrowshahi, Uber’s CEO, is reportedly going to join Grab’s board. "It will help us double down on our plans for growth as we inves...

Lyft May Claim A Third Of U.S. Market Soon!

Lyft is expected to take over a significant amount of U.S. market, and has gained much on its rival Uber Technologies Inc, according to a private Lyft investor report obtained by Bloomberg. The investor is depicting in the report that by the end of the year, Lyft's shares will see a boost in its U.S. ride-hailing business by about 61 percent. The gains that the company got are under the disturbed reputation of Uber after a series of events like executives stepping down and the distress among its drivers. These series of events has kept Uber distracted for a long time, while it was busy with internal management conflicts, Lyft gained on that and may emerge in the coming months. Besides gaining market share, Lyft has boosted its profitability and sales, the document mentioned. Accor...