/news/business/olacabs-may-shell-out-250m-for-taxiforsure/eventshow/46051194.cms01
In what may turn out to be the
first big consolidation move in the tech-backed cab services market,
Bengaluru-based Olacabs is close to buying out cross-town rival TaxiForSure for
an estimated $200-250 million, sources close to the discussions told TOI - Photogallery
In what may turn out to be the
first big consolidation move in the tech-backed cab services market,
Bengaluru-based Olacabs is close to buying out cross-town rival TaxiForSure for
an estimated $200-250 million, sources close to the discussions told TOI. (BCCL)See more of :
Olacabs may shell out $250m for TaxiForSureOlacabs may shell out $250m for TaxiForSure
In what may turn out to be the
first big consolidation move in the tech-backed cab services market,
Bengaluru-based Olacabs is close to buying out cross-town rival TaxiForSure for
an estimated $200-250 million, sources close to the discussions told TOI. (BCCL) /news/business/olacabs-may-shell-out-250m-for-taxiforsure/eventshow/46051198.cms02
The deal, a mix of cash and
stock, is already sealed and a formal announcement to this effect could be made
in the next few weeks, the sources said - Photogallery
The deal, a mix of cash and
stock, is already sealed and a formal announcement to this effect could be made
in the next few weeks, the sources said. Backed by Japan's SoftBank, Ola's
acquisition of the four-year-old startup will make the combined entity a clear
leader in India's fast-growing cab aggregation market, giving it a significant
leg up over Uber. (BCCL)See more of :
Olacabs may shell out $250m for TaxiForSureOlacabs may shell out $250m for TaxiForSure
The deal, a mix of cash and
stock, is already sealed and a formal announcement to this effect could be made
in the next few weeks, the sources said. Backed by Japan's SoftBank, Ola's
acquisition of the four-year-old startup will make the combined entity a clear
leader in India's fast-growing cab aggregation market, giving it a significant
leg up over Uber. (BCCL) /news/business/olacabs-may-shell-out-250m-for-taxiforsure/eventshow/46051197.cms03
The deal, once it goes through,
will also be the biggest M&A in the red-hot consumer internet sector after
Flipkart's $330-million acquisition of fashion e-tailer Myntra last year, first
reported by this newspaper - Photogallery
The deal, once it goes through,
will also be the biggest M&A in the red-hot consumer internet sector after
Flipkart's $330-million acquisition of fashion e-tailer Myntra last year, first
reported by this newspaper. (BCCL)See more of :
Olacabs may shell out $250m for TaxiForSureOlacabs may shell out $250m for TaxiForSure
The deal, once it goes through,
will also be the biggest M&A in the red-hot consumer internet sector after
Flipkart's $330-million acquisition of fashion e-tailer Myntra last year, first
reported by this newspaper. (BCCL) /news/business/olacabs-may-shell-out-250m-for-taxiforsure/eventshow/46051201.cms04
Myriad investors have lined up to
get a slice of India's digital story, backed by the explosive growth of mobile
internet, which saw more than $4 billion in investor money being funneled into
early and late stage startups - Photogallery
Myriad investors have lined up to
get a slice of India's digital story, backed by the explosive growth of mobile
internet, which saw more than $4 billion in investor money being funneled into
early and late stage startups. (BCCL)See more of :
Olacabs may shell out $250m for TaxiForSureOlacabs may shell out $250m for TaxiForSure
Myriad investors have lined up to
get a slice of India's digital story, backed by the explosive growth of mobile
internet, which saw more than $4 billion in investor money being funneled into
early and late stage startups. (BCCL) /news/business/olacabs-may-shell-out-250m-for-taxiforsure/eventshow/46051195.cms05
TaxiForSure, which has raised
more than $60 million from risk investors, had been scouting for fresh capital
but opted for a complete sale - Photogallery
TaxiForSure, which has raised
more than $60 million from risk investors, had been scouting for fresh capital
but opted for a complete sale. The existing investors also preferred a
consolidation deal in a cash-guzzling sector with raging fare wars. TaxiForSure's
investors, which include the likes of Silicon Valley funds Accel Partners and
Bessemer Venture Partners, among others, may get Ola stocks post the
acquisition. (BCCL)See more of :
Olacabs may shell out $250m for TaxiForSureOlacabs may shell out $250m for TaxiForSure
TaxiForSure, which has raised
more than $60 million from risk investors, had been scouting for fresh capital
but opted for a complete sale. The existing investors also preferred a
consolidation deal in a cash-guzzling sector with raging fare wars. TaxiForSure's
investors, which include the likes of Silicon Valley funds Accel Partners and
Bessemer Venture Partners, among others, may get Ola stocks post the
acquisition. (BCCL) /news/business/olacabs-may-shell-out-250m-for-taxiforsure/eventshow/46051199.cms06
The deal would create a local cab
services major valued at over $2 billion and will strengthen Ola's future
fund-raising plans - Photogallery
The deal would create a local cab
services major valued at over $2 billion and will strengthen Ola's future
fund-raising plans. TaxiForSure, like its peers, does not own its fleet of
cars. The asset-light strategy simply connects riders to drivers by having taxi
operators on its platform. (BCCL)See more of :
Olacabs may shell out $250m for TaxiForSureOlacabs may shell out $250m for TaxiForSure
The deal would create a local cab
services major valued at over $2 billion and will strengthen Ola's future
fund-raising plans. TaxiForSure, like its peers, does not own its fleet of
cars. The asset-light strategy simply connects riders to drivers by having taxi
operators on its platform. (BCCL) /news/business/olacabs-may-shell-out-250m-for-taxiforsure/eventshow/46051196.cms07
When contacted by TOI,
TaxiForSure's co-founder Raghunandan G said he could not comment on the story
at the moment while an email query sent to Ola's co-founder & CEO Bhavish
Aggarwal remained unanswered at the time of going to press - Photogallery
When contacted by TOI,
TaxiForSure's co-founder Raghunandan G said he could not comment on the story
at the moment while an email query sent to Ola's co-founder & CEO Bhavish
Aggarwal remained unanswered at the time of going to press. TaxiForSure was
founded by IIM-Ahmedabad alumni Aprameya Radhakrishna and Raghunandan as a
marketplace for taxi operators in June 2011. (BCCL)See more of :
Olacabs may shell out $250m for TaxiForSureOlacabs may shell out $250m for TaxiForSure
When contacted by TOI,
TaxiForSure's co-founder Raghunandan G said he could not comment on the story
at the moment while an email query sent to Ola's co-founder & CEO Bhavish
Aggarwal remained unanswered at the time of going to press. TaxiForSure was
founded by IIM-Ahmedabad alumni Aprameya Radhakrishna and Raghunandan as a
marketplace for taxi operators in June 2011. (BCCL) /news/business/olacabs-may-shell-out-250m-for-taxiforsure/eventshow/46051202.cms08
A source close to the development
said on condition of anonymity that TaxiForSure had sent out feelers to Uber as
well as radio taxi operators Meru and Carzonrent - Photogallery
A source close to the development
said on condition of anonymity that TaxiForSure had sent out feelers to Uber as
well as radio taxi operators Meru and Carzonrent. To keep itself afloat, TaxiForSure
had raised a bridge round of $20 million from its existing investors, the
source added. (BCCL)See more of :
Olacabs may shell out $250m for TaxiForSureOlacabs may shell out $250m for TaxiForSure
A source close to the development
said on condition of anonymity that TaxiForSure had sent out feelers to Uber as
well as radio taxi operators Meru and Carzonrent. To keep itself afloat, TaxiForSure
had raised a bridge round of $20 million from its existing investors, the
source added. (BCCL) /news/business/olacabs-may-shell-out-250m-for-taxiforsure/eventshow/46051193.cms09
Over the past couple of months,
cab aggregators have been buffeted by regulatory issues in the aftermath of the
rape of a female passenger by an Uber driver in Delhi - Photogallery
Over the past couple of months,
cab aggregators have been buffeted by regulatory issues in the aftermath of the
rape of a female passenger by an Uber driver in Delhi. Uber, valued at $40
billion, has seen its growth stall in the past two months after the incident.
The San Francisco-based startup has made aggressive strides into Asia's third
largest economy by doling out discounts as it launched in 11 cities in a year. (BCCL)See more of :
Olacabs may shell out $250m for TaxiForSureOlacabs may shell out $250m for TaxiForSure
Over the past couple of months,
cab aggregators have been buffeted by regulatory issues in the aftermath of the
rape of a female passenger by an Uber driver in Delhi. Uber, valued at $40
billion, has seen its growth stall in the past two months after the incident.
The San Francisco-based startup has made aggressive strides into Asia's third
largest economy by doling out discounts as it launched in 11 cities in a year. (BCCL) /news/business/olacabs-may-shell-out-250m-for-taxiforsure/eventshow/46051200.cms10
Japan's SoftBank, which led a
$210-million investment round last year in Ola valuing the taxi aggregator at
about $600 million (pre-investment), has emerged as the biggest challenger to
Uber outside of the US - Photogallery
Japan's SoftBank, which led a
$210-million investment round last year in Ola valuing the taxi aggregator at
about $600 million (pre-investment), has emerged as the biggest challenger to
Uber outside of the US. After Ola, Masayoshi Son-led SoftBank invested $250
million in GrabTaxi in Southeast Asia and $600 million in China's Kuadi Dache,
signalling its bullishness around on-demand transportation apps. India's taxi
market, estimated at over $10 billion in size, is largely unorganized. (BCCL)See more of :
Olacabs may shell out $250m for TaxiForSureOlacabs may shell out $250m for TaxiForSure
Japan's SoftBank, which led a
$210-million investment round last year in Ola valuing the taxi aggregator at
about $600 million (pre-investment), has emerged as the biggest challenger to
Uber outside of the US. After Ola, Masayoshi Son-led SoftBank invested $250
million in GrabTaxi in Southeast Asia and $600 million in China's Kuadi Dache,
signalling its bullishness around on-demand transportation apps. India's taxi
market, estimated at over $10 billion in size, is largely unorganized. (BCCL) 
