Page 3 - Ola Cabs

Ola group drives back on layoff plan for nearly 200 engineers, for now

Overall, the company at a group level has a workforce of around 10,000 people

'Would never acquire a loss-making business': Ola CEO on merger with Uber

The Covid-19 pandemic has hurt the transportation industry. But Ola said it is one of the most profitable ride-hailing companies in the world with a strong balance sheet

M&M, Ola Electric to unfurl e-car strategies on 75th Independence Day

On August 15, two companies - Mahindra & Mahindra and Ola Electric are set to take the wraps off their individual e-car strategies as they seek to stake their claim in India's nascent e-car market

S&P affirms ANI Technologies' 'B-' rating on sufficient liquidity

ANI Technologies Pte Ltd is scaling back its growth aspirations in loss-making segments to reduce capital requirements

Will never merge: Ola CEO rubbishes reports of merger talks with Uber

Ola founder and CEO Bhavish Aggarwal has rubbished reports in a section of media about the company being in talks with Uber for a possible merger

RBI fines Ola Financial Services Rs 1.67 cr for not following directions

Ola Financial Services was found to be non-compliant with the directions issued by RBI on KYC requirements

Ola may lay off up to 500 employees in order to drive cost-efficiency

Layoffs may take place across Ola departments amid challenging funding environment and delay in listing plans

Ola in talks to raise over $1 billion through equity, debt: Report

Ola is in talks to raise over USD 1 billion in funding through a mix of equity and debt over the next few months as the ride-hailing platform prepares for hitting the IPO route next year, according to sources. The company has recently raised over Rs 1,049 crore (about USD 139 million) from Edelweiss and others at a valuation of over USD 7 billion. According to sources, Ola is in discussions to raise a pre-IPO round of over USD 1 billion at a valuation of USD 7.5 billion. The fund raise, which is expected to be done in multiple tranches, would be a combination of equity and debt, they added. Ola did not respond to emailed queries. The USD 139 million equity funding raised is part of this larger round, they said adding that the proceeds will be utilised for key growth areas in the new mobility ecosystem. Ola is also looking at raising USD 500 million via a Term Loan (TLB) from global institutional investors. It had recently received a B-rating from S&P Global and a B3 credit rating

Ride-hailing app Ola's General Counsel Sandeep Chowdhury quits

Chowdhury had joined Ola from Nuvoco Vistas Corp Ltd

Ola picks banks for $1 billion IPO, may file papers in Oct: Report

The Bangalore-based startup could seek a valuation of more than $8 billion in the IPO and could lodge a filing as soon as October, people familiar with the matter said

Ola Cabs CEO Bhavish Aggarwal takes on Elon Musk over EV duty cut

The e-scooter's pre-launch garnered bookings of close to 100,000 in 24 hours

Mobility company Ola to provide free oxygen concentrators on its app

Ola Foundation and GiveIndia will scale it up across the country with up to 10,000 concentrators in the coming weeks.

Ola to invest Rs 2,400 cr for 'world's largest' e-scooter factory

Upon completion, the factory will create almost 10,000 jobs and will initially have an annual capacity of 2 million units

Ola's Khichdi Experiment crosses 1 mn orders amid Covid-19 pandemic

The SoftBank-backed ride-hailing firm's Ola Foods plans to build a portfolio of 8 -10 brands across a network of about 200 kitchens in the country

Covid-19 accelerated innovations in transport business: Ola co-founder

Aggarwal said while the initial impact of the pandemic on the industry was hard, it also provided an opportunity for new business models to come up

Ola Electric to hire 2,000 people; launch electric two-wheeler soon

In May, Ola had announced laying off 1,400 employees, or over 33 per cent of its workforce, as Covid-19 continued to pound the transportation industry

Ola's Chief Sales and Marketing Officer, senior VP Sanjiv Saddy quit

Srinivas had been working with Ola since July 2019. Saddy has worked with organisations like Flipkart, Tata Communications and Emaar MGF Land Ltd, as per his profile on LinkedIn

Ola commits Rs 500 cr to enable safe mobility for citizens, driver-partners

As a large number of major cities saw operations resuming on the Ola app in the last week, Ola has set up a network of over 500 fumigation centres across the country at various hotspots and airports

Top headlines: Google faces antitrust case in India, Ola buys Dutch firm

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Mobility for essentials drives used-car sales as Ola, Uber bookings drop

Bookings, sales happening for hatchbacks, cars between Rs 4 lakh and Rs 6 lakh