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Ola banking on platform effect to grow, may enter medicine delivery

The company may be close to buying stake in Myra, an online medicine delivery service, according to a report

BS Reporter  |  Bengaluru 

Ola banking on platform effect to grow, may enter medicine delivery

After venturing into the segment with the acquisition of in 2017, is evaluating more service streams as it looks to broaden its offering.

The cab-hailing firm is already working on launching grocery delivery on its platform, as Business Standard reported earlier, and is now reportedly moving to grab a pie of the nascent market through inorganic expansion. The company may be close to buying stake in Myra, an online service, Mint reported on Tuesday.

ALSO READ: Ola to invest $100 million in Indian scooter sharing startup Vogo: Aggarwal

Myra mobile app was rolled out in 2013 by entrepreneurs Faizan Aziz and Anirudh Coontoor. It is backed by Matrix Partners, Times Internet and China-based Dream Incubator. An e-store for medicines, Myra also delivers beauty and grooming products and supplements.

declined to comment through a spokesperson. Myra could not be reached immediately for comment.

With a country-wide delivery network as its biggest asset, now wants to offer more services that draw synergy from its delivery network and tech systems. Ola recently inked a $100 million “deal” with scooter rental company Vogo for cross-selling. Last year, Ola acquired Ridlr, that manages mobile-based ticketing systems for public transport corporations, for an undisclosed amount.

Apart from delivery, Ola is expanding Ola Play, an in-cab entertainment and advertising system, and its native mobile payments service Ola Money.

First Published: Wed, January 09 2019. 15:33 IST
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