(Image source from: Dnaindia.com)
Ola Gets A Boostup: Rs 112 Cr Investments On Cards:- Ola is one of the biggest cab operators in the country and it is in process to shore the finances for J Series fundraising. After putting huge efforts, Ola received a fund of Rs 112 crores from a bunch of USA investors. Rs 150 crore from Sachin Bansal and Rs 520 crore from Steadview Capital have been received earlier through the same fundraising program for Ola. Though Ola is topping in business, it has been facing stiff competition from Uber and wanted funds.
Ola even started operations in countries like Australia and is in plans to deliver medicines and other things soon. The new investment of Rs 112 crores will be used for these programs. The company's revenue went up by 62% which is huge and the annual earnings are said to be Rs 2223 crores. SoftBank decided to pool the major funds for Ola and wanted the major stake. Ola is currently valued at 5.7 billion USD and it took 1 billion USD from SoftBank.