Flipkart co-founder Sachin Bansal, who had to step down when Walmart acquired the Bengaluru-based e-commerce major last year, has invested Rs 150 crore (around $21 million) in ride-hailing company Ola, filing with the Registrar of Companies (RoC) shows. This is learnt to be the first tranche of around Rs 650 crore investment in the company by Bansal.
“This (Sachin’s investment in Ola) is not just about the money he has put in. Ola is at a level where it will either acquire (another firm), get acquired or go for an IPO (initial public offering). When you are doing either of these three, you have to have on your side people who have been there and done that,” said Sanchit Vir Gogia, chief analyst and CEO at Greyhound Research.
“We should expect something out of Ola soon,” added Gogia.
Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research & Advisory firm. To read more about him, click here.
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