Taxi aggregator | Pixr8 News

Ola Launches Self-drive Service Ola drive

17Oct By AnkitaNo Comments

News

Ola Launches Self-drive Service Ola drive

India's leading ride hailing service Ola launched 'Ola Drive', its first self-drive service in Bengaluru and said the company will invest upto USD 500 million in the next couple of years for it. The Bengaluru-based company aims to host a fleet of 20,000 cars by 2020 under the service. It has been initially rolled-out for users in Bengaluru, with Hyderabad, Mumbai and New Delhi to follow shortly, Ola said in a statement. In the first phase, Ola Drive will be offered as a short-term self-drive car-sharing service as we look to introduce long-term subscriptions, corporate leasing, and more options in the future, it added. The company will initially invest about USD 200 million (about Rs 1,400 crore) and up to USD 500 million (about Rs 3,500 crore) in the next couple of years, Ola Chi...

Flipkart founder Sachin Bansal Invested $21 Million in Ola

14Jan By AdityaNo Comments

FUNDING

Flipkart founder Sachin Bansal Invested $21 Million in Ola

Flipkart co-founder Sachin Bansal has pumped in about Rs 150 crore in ride-hailing platform Ola, though the flipkart founder committed 650 crore in Ola. According to documents filed with the Corporate Affairs Ministry."... 70,588 fully and compulsorily convertible, cumulative 'Series J' Preference Shares' having face value of Rs 10 having the rights, privileges and preferences... is hereby allotted at a subscription price of Rs 21,250," the documents showed. This translates into an investment of about Rs 650 crore by Bansal, who left Flipkart after the US retail giant Walmart picked up 77 per cent stake in the e-commerce company for $16 billion. The resolution was passed at a board meeting of ANI Technologies, the entity that runs Ola, on January 12, according to the documents. ...

11Jan By PriyankaNo Comments

FUNDING

Ola Raises $74 million Funding, Pips Oyo as a 2nd Most valuable startup in India

India's leading taxi aggregator Ola raises $74 million funding from existing investor Steadview Capital. After this funding round Ola pips OYO a hotel aggregator startup and become India's No.2 most valuable startups. Ola is now only behind digital payments service firm Paytm (One97 Communications Pvt. Ltd). After $74 million in fresh funding round, Ola, India’s leading cab-hailing service valued at $5.7 billion. Oyo Rooms, which was valued at nearly $5 billion after it raised $1 Billion from SoftBank Group Corp & Others. Before got acquired by Walmart last year, the leading e-commerce giant Flipkart was the most-valuable Indian startup (close to $16 billion) for the longest time. Last January, Ola had raised $1.1 billion in fresh capital at a valuation of $3.5-4 bill...

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...

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, ...

Uber Dignifies Pradeep Parameswaran As The President Of India & South Asia

19Jun By Gauri SinghNo Comments

News

Uber Dignifies Pradeep Parameswaran As The President Of India & South Asia

The popular taxi cab company Uber Technologies Inc. has announced the elevation of Pradeep Parameswaran as the new President of India and South Asia with immediate effect. The new President has replaced Amit Jain who was appointed as a head in the entire Asia Pacific region for Uber in May this year. Jain is a key member of Uber’s regional leadership team and welcomes Parameswaran gracefully. Over the last year and a half, he has been helpful in company’s growth by establishing the region firmly as a crucial contributor to our global vision. "I'm delighted to announce Pradeep Parameswaran will succeed me as the President of Uber India and South Asia, effective immediately. As a key member of Uber's regional leadership team, Pradeep will be responsible for leading the Rides operation to...

30Jun By AnkitaNo Comments

News

Milestone- Uber Crosses 5 Billion Trips

Global leading Taxi aggregator platform Uber said that the ride-hailing services had completed 5 billion trips on thursday. The news comes after a string of setbacks for the privately held firm, including the resignation of Chief Executive Travis Kalanick last week and firing of the technology whiz it had hired to lead its self-driving unit, Anthony Levandowski, after he failed to comply with a court order to hand over documents at the centre of a legal dispute between Uber and Alphabet Inc’s Waymo unit. Founded in 2010, Uber said 156 trips started at the same time, helping the company cross the milestone. Uber, which has been rocked by several high-level executive departures in the past few months as it grapples with a series of controversies, has been also looking for a chief op...

Uber Founder Travis Kalanick Resigns from the Post of CEO

21Jun By RishabhNo Comments

News

Uber Founder Travis Kalanick Resigns from the Post of CEO

Travis Kalanick stepped down Tuesday as chief executive of Uber as per the source The New York Times, the ride-hailing service that he helped found in 2009 and that he built into a transportation colossus, after a shareholder revolt made it untenable for him to stay on at the company. (more…)

Saudi Prince Invested $62 Million Dollar in Middle East Based Taxi Aggregator Careem

16Jun By PriyankaNo Comments

FUNDING

Saudi Prince Invested $62 Million Dollar in Middle East Based Taxi Aggregator Careem

Kingdom Holding Company (KHC) chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, acquired a 7% stake in ride hailing service Careem through a Secondary Share purchase as well as participating in the latest Round E funding to a total transaction value of $62M. The transaction makes KHC one of the largest holders of Preferred Shares in Careem and will grant KHC a board seat on Careem's board of directors. KHC's CEO Eng. Talal Ibrahim Al Maiman said, "Our investment in Careem is a continuation of our strategy to invest in new technologies as we have done with our investments in Twitter, JD.com and Lyft. As the leading ride hailing company in the region, and positioned with excellent growth prospects, Careem sets an example for regional businesses by providing employment opport...

Uber CEO Kalanick Likely to Take Leave, SVP Michael Out

13Jun By reutersNo Comments

News

Uber CEO Kalanick Likely to Take Leave, SVP Michael Out

Uber Technologies Inc Chief Executive Travis Kalanick is likely to take a leave of absence from the troubled ride-hailing company, but no final decision has yet been made, according to a source familiar with the outcome of a Sunday board meeting. Emil Michael, senior vice president and a close Kalanick ally, has left the company, the source said. At the Sunday meeting, the company's board adopted a series of recommendations from the law firm of former U.S Attorney General Eric Holder following a sprawling, multi-month investigation into Uber's culture and practices, according to a board representative. Uber will tell employees about the recommendations on Tuesday, said the representative, who declined to be identified. The company is also adding a new independent director, Nest...

Uber Fired Asia Pacific Head For Secretly Collecting Data of Rape Victim

8Jun By RishabhNo Comments

News

Uber Fired Asia Pacific Head For Secretly Collecting Data of Rape Victim

Ride-hailing company Uber has fired a top executive who had allegedly obtained medical records of a 26-year-old woman raped by an Uber driver in India in 2014, according to a media report. Eric Alexander, the president of business in the Asia Pacific, was fired on Tuesday, just as the company announced that it had fired 20 employees over the last few months for harassment, discrimination and inappropriate behaviour. Alexander had obtained the medical records of the woman, who was raped and assaulted by Uber driver Shiv Kumar Yadav in New Delhi in December 2014, a report in the technology news website Recode said. The report quoted sources as saying Alexander had showed the medical records to "Uber CEO Travis Kalanick and Senior Vice-President Emil Michael". Further, numerous execut...

Uber Posts $708M Loss; Finance Head Leaves

2Jun By reutersNo Comments

News

Uber Posts $708M Loss; Finance Head Leaves

Uber said its head of finance is leaving, and the privately held ride-hailing company also said that its first-quarter loss narrowed substantially from the prior quarter, putting it on a path toward profitability. Head of finance Gautam Gupta is leaving in July to join another startup in San Francisco, the company said, making Gupta the latest high-profile executive to leave Uber. The Wall Street Journal first reported the news on Wednesday. Uber, which has been rocked by several high-level executive departures in the past few months as it grapples with a series of controversies, has been looking for a chief operating officer to help change its now-notorious "bro" culture. Gupta's exit sets the stage for a second major executive search, now for a chief financial officer who has pu...