Flipkart Co-founder Sachin Bansal invested 150 crores in Ola

Flipkart Co-founder Sachin Bansal invested 150 crores in Ola

Flipkart co-founder Sachin Bansal has invested whooping 150 crores in cab company Ola. The deal has not been confirmed by either Bansal or Ola yet, the news came from a report of Bussines Standard.
Bansal departed from Flipkart after the US MNC Walmart acquired more than 77 per cent shares of India’s own e-Commerce for One Lakh crore Rupees in August last year.
Ola’s parent company is ANI technologies. And Sachin Bansal bought 70,588 preference shares of ANI technologies on last Sunday.
The news is confirmed by Bussiness Standard. BS came to be possession of the news by seeing the documents filed with the Registrar of Companies.
The Ola founder Bhavish Aggarwal is a monetary dispute with Ola’s largest stakeholder SoftBank. Steadview also has invested 74 million dollars (524 crores) in Ola.
Ola is going in funding phase called J round series in which it is luring investors to invest large sums in the company. After Bansal’s investment, the company's total value increased to 5.7 billion (around 40,00 crore rupees).

Currently, Ola is operating in more than 100 cities in India. And it is planning to increase its business in Australia, where company is already boasting to hire more than 40,000 drivers.
Ola is also focusing on Food Bussiness and Bike Riders, just like its rival Uber. In December 2018, Ola hinted to invest  100 million dollars in a scooter sharing firm Vogo.

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