Ola to get ammunition to counter rising Uber; may get $400 million investment from Tencent
As per various reports, if Ola gets the investment from Tencent, the former will then have more than $800 million in total fresh funding, pushing Ola's valuation to more than $4 billion.
"Tencent executives were in Bangalore last week and they met the Ola management team to discuss the transaction. Ola has also held talks with US technology giant
Tencent, which is also Flipkart’s investor, will become one of the sought-after investors in India if its deal with Ola gets finalised.
The entry of Tencent will also help Ola curtail influence of it's largest shareholder
So far, Ola has raised funds from
Popular on BI
- Data you share with ChatGPT is not private: So be careful with what you reveal
- IPO demand may pick up in the second half of FY24 after macro headwinds settle
- Flights could get bumpier as climate change makes air turbulence much more frequent
- A Swiggy user from Hyderabad spends Rs 6 lakh ordering idlis in a year
- Repo rate hike will slow down real estate, reverse post-Covid trends, says industry body to RBI