Ola aims to double scale of business

Ride hailing firm Ola today said it aims to double the scale of business in Australia and New Zealand by 2021. The company announced to expand its presence to 33 locations from 11 cities in these countries January with the roll-out of service expected to start from next week onwards. Continue Reading

Ola ‘on ride’ with Microsoft for $200 million funding

Ride-hailing major Ola is in advanced talks with tech giant Microsoft to raise about $150-200 million (about Rs 1,050-1,400 crore) in funding, according to sources. The discussions are at an advanced stage and likely to be closed in the next 10-15 days, the sources privy to the development said. Continue Reading

CEO of Vogo Automotive speaks with NT on expansion plans & more

Vogo plans to build pan-India footprint over the next year by adding 1,00,000 scooters to its fleet through their $100 million investment from Ola which has also given them access to over 150 million Ola users to book Vogo. Speaking with NewsToday, co-founder and CEO of Vogo Automotive, Anand Ayyadurai spoke on charging stations, expansion plans and more. Continue Reading

Where losers are winners

I was at once amused, astonished and aghast at a couple of news items that appeared one below the other in a national daily. PayTM, a much touted desi payment app, hogged the headlines for two diametrically opposite reasons. One proudly proclaimed that PayTM’s parent company would be bidding for a sizeable stake in the private sector Yes Bank. And another announced that the same parent has tripled its losses in three years between FY2016-19, from Rs 1,500 crore to Rs 4,217 crore. Continue Reading