Ola cabs impressive response to a rather partisan request from a Hyderabad-based customer has won a million hearts
Meru Cabs' founder says they were a traditional company.
The drying up of funds for a number of start-ups is affecting the firms' unicorn status across the globe. The past six months have seen the valuations of 147 unicorns drop, of which 71 were from the US and 29 from China, according to the latest Hurun Global Unicorn Index 2022. Eighty-one unicorns from across the globe saw their valuations drop below $1 billion-the threshold for a start-up to be labelled unicorn-from last year.
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.
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.
Cab-hailing service Ola is on the fast track on the back of a $500 million funding.
Ola's factory will create 10,000 jobs and serve as the company's global manufacturing hub for India and international markets.
High penetration of internet, increased use of smartphones help the cause of top e-commerce firms, leading to a rapid rise in their valuations.
Meru Cabs and OlaCabs among radio cabs and bus ticket booking provider Redbus have been using big data analytics.
Online cab network company Ola has launched the 'Road to Gold' campaign under which its customers can contribute a sum of Re.1 per ride across the over 110 cities it operates in, a press release stated.
The entry of SoftBank-backed Ola into the electric scooter (e-scooter) segment is set to power up the overall market and perhaps fast-track the adoption of battery-operated vehicles. But for manufacturers of internal combustion engine (ICE)-powered two-wheelers, such as Bajaj Auto, Hero MotoCorp, and TVS Motor, it will be a double whammy. Not only will they have to contend with the aggressive pricing of Ola's scooter and incur a loss at each unit of the e-scooter sold, the volumes of their regular (ICE) models, too, could feel the squeeze, observed analysts. Ola is expected to price its e-scooter in the range of Rs 85,000-1.1 lakh.
Upon completion, the factory will create almost 10,000 jobs and will initially have an annual capacity of 2 million units.
'While we may speculate about personality politics, the reality is that there are more important issues that drive the India-US relationship.'
Protesters on Twitter have begun asking people to boycott Ola's service, as mark of disagreement with the company's views
The controversy started a Twitter firestorm with many demanded the Ola to block his account. However, there were many who supported the man's 'right to choose'.
It is not clear whether the drop in offers is a fallout of demonetisation.
Takes on UberEats, Swiggy; experts question cash burn.
Reliance ADAG, Tech Mahindra among top recruiters at IIM-A
Vikramank Singh looks back at the year gone by!
Start-ups are offering eye-popping salaries to IIT grads like never before.
Investors seem to be very keen on investing in startups.
Internet entrepreneurs are the next big thing in India.
Under Nikesh Arora's leadership, SoftBank has made several investments in India in a short span.
How much do you know Russian billionaire Yuri Milner, who has invested $ 100 million in a project to find extra-terrestrial life?
In India, where it is tougher to do business, a start-up gets established by the Series-B stage, and it gets expensive for investors.
The company asked its users to sign a petition - #BringUberBack
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.
The Information Technology Act needs another tweak to allow a different kind of information intermediary to flourish, says Ajit Balakrishnan.
On the investor side, we realised most of the funds have foreign capital, thus closing down the opportunity to the Indian investor.
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