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TaxiForSure co-founder Raghunandan G tells Itika Sharma Punit consolidation in the online taxi aggregation business is the right move. Excerpts:
What prompted you to take the decision?
If you look at the taxi aggregation business globally, the largest players have often consolidated as this is a sector where some consolidation is needed. Over the last few months, Ola and TaxiForSure were spending lots in competing with each other rather than adding value to stakeholders. So we thought it was best to join hands. There is a lot of strength both bring, with TaxiForSure's operator-based model and Ola's driver-led one.
Till when will you stay as advisors for TaxiForSure and what is your role going to be?
We will stay in an advisory role with the company for three months. Our focus currently will be on ensuring this acquisition and the following phase is smooth. The company is going to continue to run and there will be no involuntary attrition.
You could continue after the acquisition. Why are you leaving?
A founder provides a vision. Given visions for Ola and TaxiForSure are the same, it's better the combined entity has a single leadership rather than a dual one.
What was the sentiment in the office? What are your plans?
It is a bit of a challenge as this is something we created. But we believe it is the right thing. Letting go of your baby is difficult, but if you know you are shifting them to a better world, it's a good feeling. As for our plans, we haven't really got the time to talk about it at length. But once bitten by the entrepreneur bug, it's difficult to get back to a corporate job.
