Ola News and Updates

[Bapun]

• Ola announced that it has entered an agreement to acquire online lending platform Avail Finance.
• Ola had first invested in Avail Finance back in 2019 and presently owns 9% stake in it.
• Ola believes that the acquisition could help the company further enhance their own financial services offering.

Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail finance

Ride hailing giant Ola on Friday announced that it has entered an agreement to acquire online lending platform Avail Finance, which is run by Ola’s founder and chief executive (CEO) Bhavish Aggarwal’s brother Ankush Aggarwal. The companies did not disclose the terms of the deal as the...

www.businessinsider.in

 

[Bapun]

Ola shuts down used cars and quick commerce businesses to focus on EVs, ride hailing

In an official response, the company spokesperson confirmed the development and said, Ola has reassessed its priorities and decided to shut down the quick commerce business. The Ola Cars infrastructure, technology and capabilities will now “be repurposed towards growing our Ola Electric sales...

economictimes.indiatimes.com

 

[Bapun]

Ola said on Tuesday it was exiting its ride-hailing businesses in the UK, Australia and New Zealand as the startup focuses on its home market India, where it is locked in a battle for market share with Uber.

India's Ola to stop ride-hailing operations in international markets

 

[Abhinav]

Ola said on Tuesday it was exiting its ride-hailing businesses in the UK, Australia and New Zealand as the startup focuses on its home market India, where it is locked in a battle for market share with Uber.

India's Ola to stop ride-hailing operations in international markets

Not only Uber, there are many other ride sharing apps getting popular because of their less commission from drivers. And they also allow price negotiations between rider and driver which I hate.

We have come right from where we started. Digital platforms gave peace of mind and a fix expected price for your ride without hassle of negotiations, now drivers see you are requesting ride at average price and raise it. If they sense it's same person still requesting ride then they will raise price even higher... Take InDrive as an example