Ola Cabs acquires TaxiForSure in $200-mn deal.
Ola's cash reserves are starting to run dry. The company was in talks to raise $1 billion in funding by the end of July, but no announcement has been made as yet
The company is in talks with investors and the deal could be closed in a few weeks. At present, it operates in 37 cities in India.
Ahead of the likely acquisition of online taxi aggregator TaxiForSure by larger competitor Ola Cabs, technology teams of the two Bengaluru-based companies are learnt to be evaluating ways in which the two platforms can be integrated, sources said.
Meru Cabs' founder says they were a traditional company.
There are about 600,000 taxis in India, generating combined annual revenue of about Rs 11,000 crore (Rs 110 billion).
A woman has accused a driver of app based cab service TaxiForSure of indulging in vulgar act while driving her from South Delhi's Saket to Faridabad.
Koo -- the made-in-India rival of Twitter -- will not charge users for a verification badge, its co-founder and CEO Aprameya Radhakrishna said as he took on the larger rival for allegedly first creating bots and now charging users for verification. Koo, which allows users to express views in Indian languages, has already crossed 50 million downloads and is now flying into the rival's nest, starting a campaign on Twitter by making itself prominently visible on verified handles and offering them better deals on its platform at no cost. Since taking over Twitter, billionaire Elon Musk has set in motion massive changes, sacking employees and talking of levying a $8 charge for 'verified' handles.
Investments are at risk if operators are unable to resolve concerns of authorities and customers after the rape accusation.
Ola has raised $400 million from investors led by Russian billionaire Yuri Milner's DST Global.
TaxiForSure's Aprameya Radhakrishna's new venture, Vokal, is a peer-to-peer content generation platform that is a cross between Reddit and Quora.
'This will make the driver alert and more responsible to drop you safe.'
Koo, which works on similar lines as Twitter, was born with a focus on regional language, unlike Twitter and Facebook, which are very popular but primarily cater to an English-speaking audience, reports Neha Alawadhi.
The ban on taxi aggregators can put at risk investments of at least Rs 2,000 crore (Rs 20 billion), made by private equity (PE) and venture capital (VC) investors.
In a major decision, Delhi government on Wednesday rejected fresh applications for licence by US-based taxi booking firm Uber and two other such service providers -- Ola and TaxiForSure.
The government is mulling blocking mobile taxi hailing apps of Uber, Ola and TaxiForSure all over the country, with the Department of Electronics and Information Technology seeking views from the Transport Ministry for the same.
The fresh funds would be used for expansion of Meru's network.
A profession that has become quite lucrative with the advent of Ola Cabs, TaxiForSure and the likes, now hangs in the dark. Anita Babu and Itika Sharma report
Ola did not disclose financial details of the investment.
App-based taxi aggregator Ola is in talks to raise fresh funding of up to $400 million.
An Uber driver was arrested for allegedly misbehaving with a woman passenger in Mumbai, police said on Wednesday.
Aditya Bhushan Dwivedi profiles Amitava Ghosh the chief technology officer at TaxiForSure.
Uber started its business three years ago in India and is now operating in over 20 cities with thousands of cab drivers.
Cab-hailing service Ola is on the fast track on the back of a $500 million funding.
Ridlr will become a wholly-owned subsidiary of ANI Technologies, which owns Ola brand. Ridlr's team of 64 employees will now become a part of Ola.
Ratan Tata invested about $299,000 during the first six months of 2016.
In a setback to US-based online cab service provider -- Uber, the Delhi government has rejected again the company's application for licence to run its taxis in the national capital.
The safety net for passengers is focused solely on the terms and conditions for the radio taxi scheme issued by the transport department.
These days, one frequently hears of consolidation, rollback and even closure from the start-up world.
Despite Uber facing a ban across many states, including Karnataka and Maharashtra, for Lingaraju, a driver employed by the company in Bengaluru, it is business as usual.
India is the next major breeding ground for start-ups.
Your next ride via the Ola app in an auto rickshaw could be cashless.
The amendment comes within a month of web-based taxi companies being banned in Delhi, after a taxi driver on Uber's network allegedly raped a finance executive early this month.
Predatory pricing petitions against Ola, Uber were filed from across cities.
Its executives are test-marketing the model in New Delhi.
Two IIT-B grads cracked the cab aggregator code, tasted success & failure.
Investors seem to be very keen on investing in startups.
JD(S) will help them build a competing app, which, will work on a cooperative model, where drivers will own the app and will decide prices which the customers will have to pay
In the Silicon Valley of India, one can use the cryptocurrency to pay for food, buy bus tickets, order stuff online, and even get a haircut.
The present tax revenue of the state is Rs 120,000 crore.
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