Ratan Tata likely to lead $100 million funding round in Ola; valuation may touch $3.5 billion
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Tata may invest $60 million, while rest will be invested by New York-based hedge fund Falcon Edge Capital. Besides,
If the deal goes through, Ola's valuation will rise to $3.5 billion.
"This new $100 million commitment (will happen) at a higher valuation,” ET quoted sources as saying.
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ET quoted analysts and employees at Ola, saying Ola clocked about six million weekly rides on an average between September and December 2016, across all its offerings-cabs, auto rickshaws and shuttle buses. “The major source of revenues for both Ola and Uber-around 70-75% - comes from their economy services including Ola Micro, Mini and UberGo,” analysts told ET.
Ola is leaving no stone unturned to fight out the increasing pressure from Uber.
"Since
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