The list of those betting on the future of Ola, India’s largest taxi aggregator, keeps getting longer. After having mopped up close to $900 million from more than a dozen investors since 2011 when it was set up, Ola (formerly Ola Cabs) received $30 million from Didi Chuxing (formerly known as Didi Kuaidi), China’s largest taxi hailing service.
“It is all about the battle for marketshare—the higher the number of cars on the road, the greater the probability of winning over a customer. However, the growth in marketshare will also depend on who offers the lowest fare,” says Sanchit Vir Gogia of Greyhound Research, a technology research firm.
Source: Financial Express