Industry watchers say while it's completely possible for a firm like SoftBank to step in and take control of Ola, it's usually one of the least favoured options.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
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.
OlaCabs' hyper-growth and an ambitious plan to expand to 100 cities by the end of 2015 are perhaps what attracted Japan's richest man, Masayoshi Son, chairman of telecom and media group SoftBank Corp, to announce an investment of $210 million (around Rs 1,260 crore) in the company.
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Recently, e-commerce firms have been under the lens for tax violation.
Ola was supposed to expand to the Netherlands, Kenya, Dubai, Israel, and Brazil.
For now, Bounce, Shuttl, Fab Hotels, Instamojo, Zomato, Curefit, and HealthifyMe, among others, are going for salary deductions. Most of the consumer internet start-ups, besides those who are in the grocery delivery, education tech, and video conferencing business, would ultimately lay-off people and cut back salaries.
Most Indian start-ups and e-commerce are largely funded by foreign investors
The company did not disclose the valuations at which funds were raised.
Ola said it has obtained licences to operate in South Wales and Greater Manchester, and will launch operations in South Wales by September.
Modi will get the maximum chunk of the session time.
The Bengaluru-based firm competes with US rival Uber whose lukewarm IPO last year has contributed to the lag in valuation trend among the unicorns across the Indian start-up ecosystem.
The new Ola app will allow fleet owners to track their cars in real-time, view the performance of their drivers, and even their daily earnings
The two new markets are overwhelmingly dominated by US ride-hailing giant Uber, which has been able to edge out local start-ups
Tariff cap offers Ola relief in battle with Uber. Though it might hurt their earnings, Ola believes the Karnataka High Court's judgement levels the playing field with Uber.
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Your next ride via the Ola app in an auto rickshaw could be cashless.
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Experts believe more efforts would be needed in future funding rounds.
Electric mobility in India is touted to be the way to the future, but implementation of large-scale projects to bring infrastructure for charging is still lacking.
If the alliance works out as planned, it will give a big boost to Mahindra, as it has been struggling with its only car model Verito, managing to sell around 200 units a month
Ola wants to be India's answer to Grab, which is into everything, starting from cab service and logistics to bike taxis and food and grocery delivery.
These start-ups are different from the ones that have made it big in India.
Currently the average expected time of arrival for Ola vehicles is five minutes.
Be it for the organisation they work for, or for their own venture, if they believe in an idea, they work relentlessly towards it.
Two IIT-B grads cracked the cab aggregator code, tasted success & failure.
Besides the manufacturing industry, voices in favouring the need for protectionism have also been heard from local start-ups, which at times find it tough to compete with global players that entered India with deep pockets.
It will take years for faster Internet to reach this population and those who aren't even connected so far
Meru Cabs' founder says they were a traditional company.
In India, it is fighting a pitched battle against Ola.
Vijay Mallya, who faces prosecution in India, is reportedly in London.
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
'Shape up or ship out' message has been loud and clear across the new-age companies in the stressed market conditions
None of the top five start-ups launched by IITians - Flipkart, Zomato, Ola Cabs, Housing.com and Inmobi - were incubated at IITs
For the four new players, the spike in wealth is 126 per cent.
Every competitor is eyeing the top slot that Flipkart holds.
Looks at 100 km ride on single charge, ideal for big cities
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