Bhavish Aggarwal

This is the largest investment by an individual in Ola till date

The investment will be part of Ola’s ongoing Series J round

Bansal called Ola “one of the most promising consumer brands in India”

The investment may be a part of Ola’s ongoing Series J funding round

Mirae Asset-Naver Asia Growth Investment fund was launched by Korea-based companies

The company has been looking to onboard new investors to reduce dependency on SoftBank

Ola to give shares to China-based electric vehicle company Eternal Yield International

Around 9,684 preference shares to be given at a price of $208 per share

Had been looking to raise small amount from new investors to reduce dependency on SoftBank

Most newsmakers either quit their first venture and started out afresh or expanded their cross-border presence

Binny Bansal and Sachin Bansal made news for their dramatic exits from Flipkart; both are launching new ventures now

The extortion puzzle involving Paytm’s Vijay Shekhar Sharma is yet to be solved

Ola has been busy expanding the international markets

Ankit Bhati has taken up the charge of Indian operations

Ola is aiming to be profitable this year

Cofounder Bhavish Aggarwal may seek a lower amount of funding from SoftBank

SoftBank currently has a 26% stake in the company

Ola has expanded its services to the UK, Australia, and New Zealand this year

New Zealand users can now book ride from Auckland, Wellington and Christchurch

Ola also declared 50% off on all Ola rides for the first month

Users can also book rides from Auckland and Wellington airports.

If successful, Ola’s valuation may be the highest that an urban transportation company has been able to achieve till now

The speculation comes at a time when Sachin Bansal is also been in talks for investing in the company

Both Steadview and Bansal will be participating in the same round

Ola has raised funding from Hong Kong-based Sailing Capital and the China-Eurasian Economic Cooperation Fund

The new fundraise valued the company between $3.7 Bn and $4.3 Bn

Ola has appointed Brian Dewil as its Country Manager for New Zealand

Foodpanda claims to be receiving three lakh orders on a daily basis

Foodpanda integration with Ola will be rolled out in October

The food delivery app earlier announced it would hire 60,000 delivery riders

Flipkart co-founder Sachin Bansal, Ola co-founder Bhavish Aggarwal, Kalaari Capital managing director Vani Kola also comment on the draft policy

In July 27, 2018, the Justice Sri Krishna Committee submitted the much-awaited first draft of the Personal Data Protection Bill, 2018, to MEITY

The Bill runs into 112 sections, which is the combination of Europe’s GDPR and India’s IT Act, 2000

Temasek is also in discussions with Ola’s management to pump in more money into the company by subscribing to new shares

The stake was purchased from a group of early investors in the company

The new funding will enable Ola founder Bhavish Aggarwal to diversify the company’s shareholder base