Ola reaches USD 5 Billion in valuation, what next?

ANI Technologies Private Limited (Ola Cabs) is no doubt is India’s biggest auto aggregator and rental application for individual transportation.

Founded in 2010 by Bhavish Aggarwal and Ankit Bhati, Ola raised has USD 500 million recently in its Series F Funding lead by Baillie Gifford at a valuation of USD 5 Billion. With this round of financing, Ola has now raised USD 1.18 Billion in total (the breakup is given below).

Funding Breakup

Ola operates across 102 cities in India and clocks more than one million booking requests every day. It acquired Taxiforsure.com (March 2015) for USD 200M, ZipCash (October 2015) and Geotagg (November2015).

Uber, reportedly logs 250,000 rides per day across 22 cities and has recently injected USD 1 Billion in India-based business. Ola for is in front of its opponent. Ola was first to allow cash payments which Uber now offers in India, also Ola got into the auto rickshaw market before its competitor especially in the Tier II and Tier III cities. Offering carpooling services, mobile wallets and such both Ola and Uber are competing neck to neck.

Moreover with ‘Ola Money’ as a standalone app and the launch of ‘Ola Store’ highlights its desire to be not just a cab aggregator.

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