• About
  • Contact
Tuesday, May 17, 2022
  • Login
Next Big Brand
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail
No Result
View All Result
Next Big Brand

Ola Raises $500 Million Ahead of its IPO

Abdul Kadir Khan by Abdul Kadir Khan
October 11, 2021
in News
Reading Time: 2 mins read
A A
0
IMG 20210709 WA0017

Ola, the ride sharing and rental vehicles provider firm, has raised half a billion led by the investment giants Temasek, and Warburg Pincus. This is one of the major funding raise event before Ola’s initial public offering(IPO).

$500 Miliion Funding Raise by Ola

Ola, the ride hailing giant, has concluded a new funding round recently let by the top investors Temasek and Warburg Pincus. Existing investors also actively participated to make it a $500 million funding event.

Bhavish Aggarwal, CEO and co-founder of Ola, has also shown interest in investing some undisclosed amount in his personal capacity.

Ola has raised over $4 billion in different financing events concluded to that. SoftBank, Tencent, Steadview Capital, Sailing Capital, and others are the major existing investors of Ola.

Talking about the last 13 months journey of Ola, CEO Bhavish Aggarwal said that the firm has made necessary changes in the Ola business model to make it more efficient, robust, and user friendly. The startup has also recorded good recovery post pandemic. The firm is in a stable position to provide better mobility services to its customers.

Ola IPO and Valuation Decline

Founded in 2010, the online ride service firm had been planning to start its initial public offering since 2019. To do that, it also completed all set up including pre-IPO trust in September 2019. The firm also started restructuring itself including laying off the employees, hiring more managerial level staffs, optimizing different departments and others.

As per Reuters report published in 2019, Ola had plans to start its IPO in March 2021. Covid pandemic disturbed all business activities globally and the riding services were the most affected due to national lockdown. It forced Ola to postpone the IPO plans.

During first two months of Covid-19 emergency, Ola’s operations was badly hit and it has no other option except firing 1400 staffs in May 2020. The company also reported that its revenue dropped by 95% during first wave of Covid-19.

Millions of Ola drivers lost their livelihood due to the sudden emergency due to the decline in transport operations.

Ola is also in the news due to its recent announcement of largest electric two wheeler factory establishment in Chennai, India worth Rs 2400 crore. Not only that, but Ola Electric also plans to install the World’s largest electric vehicles infrastructure in India. Both projects are on-going. The company will also export electric two wheelers to UK and other parts of Europe.

Ola valuation also saw a continuous decline since the beginning of Covid-19 emergency. As per Capital Quest report, there was a 45% define in its valuation from $6 billion to $3.3 billion from December 2019 to June 2020. The valuation was again slashed by 9% and it was valued $3 billion in March 2021.

Tags: OlaOla Cabs
Previous Post

Teachmint: Providing Digital Infrastructure to Online Tutors

Next Post

Info Edge: Journey of an Internet Company to a Known Investment Firm

Abdul Kadir Khan

Abdul Kadir Khan

Abdul Kadir Khan is a Content Writer at Next Big Brand. Hails from UP. Postgraduate in Computer Science. Content Maniac and Trainer. Love to write about startups, Brands, and Trending Tech.

Related Posts

paytm mall
News

Jack Ma Exits Paytm Mall, Sells 43% For ₹42 Crore Valuation Down To Rs 100 Crore

May 17, 2022
Zerodha Team
News

After Meesho, Nearly 950 of Zerodha’s 1100 Employees Will Work From Home Permanently

May 16, 2022
Elon Musk Twitter
News

Elon Musk Puts On Hold $44 Billion Twitter Acquisition Deal

May 13, 2022
Dineout Founder
Food

Swiggy Acquires Times Internet Backed Dineout For $200 Million

May 13, 2022
Ather Founder
News

Ather Energy Raises $128 Million Investment Led By Hero MotoCorp, India’s Sovereign Wealth Fund

May 12, 2022
Deepika Padukone LV
News

Deepika Padukone Becomes First Indian Face to be House Ambassador for Louis Vuitton

May 11, 2022
Next Post
InShot 20210709 194451211

Info Edge: Journey of an Internet Company to a Known Investment Firm

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

BROWSE BY TOPICS

Acquiring amazon Apple brand story BYJU Ravindran Byjus byjus news byjus the learning app Cryptocurrency Edtech Startups Elon Musk facebook fintech news Flipkart funding Good Glamm Group google Indian OTT Platforms Indian Unicorn Indian Unicorns Indian Unicorns of 2021 Mukesh Ambani Netflix NFT NFT Collection Non Fungible Tokens OYO Paytm Reliance Retail Startup Acquisition Startup IPO startup news india Startups startups in india Swiggy Tiktok TikTok India Twitter Unicorns of 2022 Unicorns of India Unicorn Startups Upgrad YouTube Zomato Zomato App

Instagram

Follow Me!

Recent News

  • Jack Ma Exits Paytm Mall, Sells 43% For ₹42 Crore Valuation Down To Rs 100 Crore
  • After Meesho, Nearly 950 of Zerodha’s 1100 Employees Will Work From Home Permanently
  • Elon Musk Puts On Hold $44 Billion Twitter Acquisition Deal

Latest News

paytm mall

Jack Ma Exits Paytm Mall, Sells 43% For ₹42 Crore Valuation Down To Rs 100 Crore

May 17, 2022
Zerodha Team

After Meesho, Nearly 950 of Zerodha’s 1100 Employees Will Work From Home Permanently

May 16, 2022
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Marketing
  • Tech
  • Insight
  • Interviews
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • CRYPTOCURRENCY
  • Retail

© 2019 NBB. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.