Uber's India rival Ola looking to raise $600 million in fresh funding
India’s ride-hailing service Ola could be planning to raise more money soon as it eyes further expansion and also take on global giant Uber.
SEE ALSO:Uber to make it easier for drivers to own a car in IndiaOla is planning to raise $600 million by the end of the year, according to Bloomberg. The company is in talks with its existing investors such as SoftBank Group as well as some new investors for the funding.
India’s largest cab-hailing service will be using the money to counter competitive pressure from global giant Uber. The San Francisco-based company is aggressively expanding its cab platform in India. Uber, which recently sold its China's operations to local giant Didi and left the country, now sees India as its next major market. Interestingly, Didi is an existing investor in Ola as a part of its grand anti-Uber global alliance but it remains unclear whether it will invest in the future after its deal with Uber.
Ola plans to invest in attracting more drivers to its platform with vehicle leasing programs. The company currently has tie-ups with Indian giant M&M and German carmaker BMW for leasing and training programs for drivers.
India estimated to be $10 billion market for ride-hailing services. Though there are several local and international brands competing in the Indian market today, Ola and Uber are the two with dominant positions. Ola currently operates in over 100 cities in India, whereas Uber is present in fewer than 30 cities.
TopicsUber
下一篇:Garmin Fenix 8 vs. Apple Watch Ultra: The Fenix wins big on battery life
- ·Freedom from Dissent
- ·随时随地温酒共酌 妙府老酒全新自加热专利产品上市
- ·普及农业技术 提高生产效率
- ·中国平安发起保护华南虎公益行动 首发区块链数字艺术藏品
- ·Republicans on abortion
- ·彰显榜样力量 传承红色基因
- ·俩人带了41瓶洋酒入境!青岛胶东机场海关已暂扣
- ·爆汁甘甜,来一颗北纬21°界炮圣女果!
- ·The OLED Burn
- ·弘扬传统文化 传递节日温暖
- ·线上会议+线下表决 高效办理破产清算案件
- ·青岛市城市冰雪灾害Ⅲ级应急响应凌晨启动
- ·17 Places That Harness the Power of the Sun
- ·上百款农药将取消或变更登记
- ·守护“广州绿心”!广州海珠国家湿地公园党组书记梁锋为绿美广东代言
- ·绗洓灞娾€滅唤鏀炬澂鈥濆厛杩涘埗閫犱笓棰樿禌棰佸鍏哥ぜ鏆ㄦ暟瀛楃粡娴庡彂灞曡鍧涘湪闈掍妇琛宊涓浗灞变笢缃慱闈掑矝
- ·Kamala Harris’ ridiculous problem with the political press.
- ·双赛道冠军产生!青岛市2021年度跨境电商职业技能大赛收官
- ·闈掑矝瑗挎捣宀告柊鍖衡€滀竴涓変笁浜斺€濆啘涓氱患鍚堟墽娉曟柊妯″紡椤圭洰鍏ュ洿绗叚灞娾€滄硶娌绘斂搴滃鈥漘涓浗灞变笢缃慱闈掑矝
- ·记忆市北:探寻“城中村”的历史记忆
- ·11 Unique Amaros and Liqueurs to Level Up Your Aperol Spritz
- ·和睦小家 传递大爱
- ·七旬老太饱受疼痛折磨
- ·揭晓!“寻找最美渔港”广东摄影、短视频大赛获奖名单公布
- ·Travel Back in Time and Uncover Old
- ·港交所首家空白支票公司来了!背靠招行,重点关注新经济,零售之王这样一鱼多吃
- ·Apple's iPhone 17 will come with a huge RAM upgrade, report claims
- ·青岛东方影都闪耀第23届香港国际影视展
- ·库容1.5万吨,胶州启用第三个区市级集中监管专仓
- ·保供应保生产 全力以赴稳增长
- ·水产品占“四席”!广州南沙十个农产品上榜“国字号”
- ·两年零九个月! 77岁老太绣出22米清明上河图
- ·保供应保生产 全力以赴稳增长
- ·青岛首届海洋国际音乐季将于8月开幕
- ·Alcaraz vs. Van de Zandschulp 2024 livestream: Watch US Open for free
- ·平安人寿青岛分公司:客服大厅暖心服务 帮助老年客户解决后顾之忧