Investor trims Ola's valuation to about $3 billion, says report

An investor in ride-hailing giant Ola has marked down its valuation further after slashing it by nearly half at the onset of the Covid-19 pandemic that disrupted business a year ago, according to a report by The Capital Quest.

This development comes at a time when Ola has revealed new growth plans, including setting up a Rs 2,400-crore electric vehicle facility expected to become the world’s largest two-wheeler factory. Ola’s ride-hailing business is recovering after the coronavirus pandemic’s hurt and demand for its food business and financial services improves.
 

The Capital Quest report said Ola, operated by ANI Technologies Pvt.