Taxi ‘not’ for sure: Ola shuts down TFS, lays off 700 employees
Advertisement
Advertisement
Cab-aggregator Ola, which acquired Taxi For Sure last year, has shut down the TFS business while also laying off 700 employees.
It was last year that Ola had acquired its Bengaluru-based rival
Also read: Delhi to cap tariffs for Uber and Ola
"Since the acquisition, Ola has been unclear about the brand positioning of TaxiForSure," a top executive at the company told ET. "Silently, the TaxiForSure fleet was transferred to Ola supply and even incentives were more lucrative for Ola vs TaxiForSure," this person added.
Advertisement
Also read: Ola has done something which will make it way ahead of Uber. Find out
Ola, backed by SoftBank, is finding ways to reduce its cash burn rate, getting prepared for the intense battle with Uber that lies in the near future.
Image source
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market