Page 2 - Ola Cabs

Ola set to enter grocery delivery service again, this time through ONDC

Ola has established itself as the second-largest buyer-side platform for food delivery on ONDC, following Magicpin

Ola Electric planning to layoff 400-500 employees to streamline operations

Ola Electric's IPO application is currently under review by the Securities and Exchange Board of India (Sebi)

Bengaluru airport suspends entry fee for vehicles amid public outrage

Cabs and other commercial vehicles were subjected to an entry fee of Rs 150 for up to seven minutes, and after seven minutes, the fee would have increased to Rs 300

Ola's next stop: Scaling up fintech, logistics, e-commerce businesses

The company's vision is to serve 1 billion Indians and drive sustainable growth and efficiency in the organisation

Ola Cabs CFO Kartik Gupta quits seven months after taking charge

Before joining Ola, Gupta worked as the Vice President and Regional CFO of Asia Pacific, Middle East and Africa at Procter and Gamble for over 17 years

Ola to move entire workload out of Microsoft's Azure to Krutrim: Aggarwal

The move comes after Aggarwal criticised Microsoft-owned employment-focused platform LinkedIn for removing his post on pronoun illness, calling out platform for imposing political ideology

Engaging with govt on AI, see big opportunities: Krutrim's Ravi jain

The vision is to enable the developers to do cutting-edge innovation. These platforms or tools that developers need are computing and services and that is what we have opened up

Bhavish Aggarwal's Krutrim unveils Android app, iOS app coming soon

Krutrim has opened up its cloud platform for enterprises, researchers, and developers, enabling development of new-age technology products at a fraction of current costs

Ola Cabs CEO Hemant Bakshi quits; company to lay off 10% employees

Ola Cabs is reportedly planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion

Ola Cabs CEO Hemant Bakshi resigns; company to lay off 10% employees

Hemant Bakshi's exit coincides with company's impending restructuring efforts, poised to impact at least 10 per cent of the workforce

Ola Cabs shuts down international ventures, shifts focus to Indian market

The future of mobility is electric - not just in personal mobility but also for the ride-hailing business, and there is immense opportunity for expansion in India, said the statement

Fare of shared cabs on Pune, Nashik and Shirdi routes from Mumbai hiked

The fare of shared taxi services on the Nashik, Shirdi and Pune routes from Mumbai have been increased in the range of Rs 50 to Rs 200, transport department officials said. The Mumbai Metropolitan Region Transport Authority (MMRTA), in its recent meeting held earlier this month, approved the fare revision of black-and-yellow non-AC taxis and blue-and-silver AC taxis on these three routes. For the AC taxi travel, the passengers boarding from Mumbai will have to pay Rs 100 more for Nashik and Rs 200 more for Shirdi, while they will have to Rs 50 extra for both AC and non-AC taxi travel to Pune, they said. The revised fare of AC taxis on the Mumbai-Nashik and the Mumbai-Shirdi routes will be Rs 575 and Rs 825 instead of the current Rs 475 and Rs 625 respectively. While the fare of the non-AC taxis on the Mumbai-Pune route will be Rs 500 instead of Rs 450, and for the AC taxis it will be Rs 575 instead of Rs 525. As per the minutes of the meeting, the fare revision was approved ...

Why startups are flipping back to India in spite of the hefty tax bill

The thing is, if a company wants to move from another country to India as a domicile, it is treated as a capital gains event for existing investors

TMS Ep624: Byju's red flag, Bhavish's unicorns, markets, Parivesh 2.0

Is Byju's case a red flag for startup founders? Has Bhavish's 3rd unicorn cemented his startup success? Will the RBI change its stance in February policy? What is the Parivesh 2.0 portal? Answers here

Vanguard cuts valuation of Ola Cabs by about 30% at about $1.88 billion

Ola Cabs was co-founded by Bhavish Aggarwal in 2010 and found immediate backing from marquee investors such as Softbank and Tiger Global, besides Vanguard

Ola's parent ANI Technologies posts Rs 2,800 crore revenue in FY23

The firm also has cut down its losses by nearly 50 per cent to Rs 772 crore during FY23 compared to Rs 1,522 crore in FY22, according to media platform Entrackr

LIVE: Delhi bans entry of app-based cabs from other states as AQ dips

Catch all the latest updates LIVE from across the globe here

Delhi bans entry of app-based cabs 'in accordance with SC order': Minister

Delhi Environment Minister Gopal Rai on Wednesday said the city government's transport department has been directed to ban app-based taxis "in accordance with the Supreme Court's orders". Officials, however, pointed out that only a detailed order will make it clear if the ban will come into effect from this week or be effective during the implementation of the odd-even car rationing scheme. The transport department will issue a detailed order on the issue and it will clear things, they said. On Tuesday, the Supreme Court asked the Delhi government to consider allowing only locally registered taxis to ply on the city's roads. It said a large number of taxis registered in other states were seen on the roads, carrying only one passenger. "We may also note that there is a large number of app-based taxis in Delhi which have registrations in different states. If we look at the roads, each one is carrying only one passenger. We would like to know whether there is any way of monitoring, ..

Ride-hailing company Ola Cabs loss widens to Rs 3,082 crore in FY22

Ride-hailing company Ani Technologies Pvt Ltd, popularly known as Ola Cabs, saw its loss widening to Rs 3,082 crore in 2021-22, according to financial data accessed by business intelligence platform Tofler. The company's losses have more than doubled on a year-over-year basis, the data showed. "Ani Technologies Pvt Ltd, an online transportation network company (popularly known as Ola Cabs), reported its revenues for the 2021-22 financial year at Rs 1,350 crore, a 49 per cent jump since the last financial year," Tofler said in a statement. "The company further reported a net loss of Rs 3,082 crore during the fiscal. This is a 132 per cent higher than the last financial year," the statement said. The company's total expenses for the fiscal were reported as Rs 1,539 crore, the statement said. An email query sent to Ola seeking a response did not elicit an immediate reply. Ola operates in more than 250 cities in India, Australia, New Zealand, and the UK.

Ola launches 'Prime Plus' cabs for cancellation-free rides; details here

Ola will not hire new drivers or vehicles for the new service and would instead rely on its existing fleet, sources said