Page 13 - Ola

Ola's losses mount to Rs 49 bn in FY17 despite revenue improvement

Losses posted by the company in 2016-17 was more than three and half times of its revenues during the period, which stood at Rs13.8 billion

Ola aligns with Softbank's dream of one million electric vehicles

The company has announced 'Mission: Electric' to bring one million EVs on to India's roads by 2021, starting with 10,000 electric rickshaws in the next 12 months

Ola plans to add 10,000 electric vehicles, mostly e-rickshaws in 12 months

The company said it will further expand its EV fleet to three other Indian cities but did not disclose the names

Ola unveils in-trip insurance: Cost starts at Re 1, covers up to Rs 500,000

Apart from Acko, Ola has also partnered with ICICI Lombard General Insurance; the partnership would go live in the coming months, the company said

Ola acquires ticketing app Ridlr to enable mass transit integration

Ridlr already partners several mass transit companies across the country to enable cab booking zones

Ola plans to acquire Ridlr to boost real-time tracking technology

Ola's bold moves come at a time when Softbank is seen as exerting pressure on Uber to fold its businesses in Asia

Ola hires former BMW Group executive Anand Shah to lead new EV arm

Ola is trying to zoom ahead of rival Uber in EVs, having already rolled out a pilot in Nagpur

Ola spreads wings in Australia to build profit base, take on Uber in India

The company has launched its service in Sydney, its second market in Australia in under a month

Ola hires top auditor to probe recruitment fraud by HR head Yugantar Saikia

Laptop and email seized, Saikia kept off company's rolls; fraud size said to be 'few million dollars'

Ola plans to go Down Under, eyes Australia and New Zealand for expansion

The two new markets are overwhelmingly dominated by Uber, which has been able to edge out local start-ups

Ola acquires Food Panda in India, to invest $200mn into food delivery biz

This deal includes the transfer of Foodpanda's India business to Ola in an acquisition deal in exchange for Ola stock.

Ola projected to turn profitable by FY19, rake in $1 bn by 2021

The projections, part of the firm's valuation report dated March 18, 2017, stated that the firm would achieve a net operating profit after tax of Rs 1,170.49 crore in 2018-19

Ola to raise $2 billion in fresh funding from Tencent, SoftBank

The deal on the first $1 billion is expected to be closed soon and will not see participation from Ola's largest investor, SoftBank

Ola said to raise $2 bn from SoftBank, Tencent

The funding will help Ola to continue its focus on India and build both its supply of vehicles and drivers

Ola aligns with millennials, adopts their causes to market services

Company's focus on climate change and attempts to link it to the 'Ola Share' service is not new

eKart exec Harish Abhichandani replaces Rajiv Bansal as Ola CFO

Abhichandani had served a year and a half stint as the CFO of Flipkart's logistics unit eKart

Ola raises Rs 231 crore from Tekne Private Ventures

The deal involves allotment of 171,173 fully and compulsorily convertible preference shares

Ola Cabs hits legal hurdle for playing 'pirated' music

> The Bengaluru Police has registered a complaint of copyright infringement against ride hailing service Ola and its founders Bhavish Aggarwal and Ankit Bhati for streaming pirated film music through its Ola Play platform. The complaint which was filed by Bengaluru-based Lahari Recording Company on May 20 accuses ANI Technologies Pvt. Ltd., the parent company of ride hailing service, of downloading and streaming songs from popular Telugu and Kannada movies for which it owns the rights. Police raided the Ola office, seized equipment that downloaded and stored songs locally and streamed it on its Ola play platform, it said in a statement on Friday. Tulasiram Naidu, director at Lahari Recording Co, discovered last month that Ola was playing audio music of popular Telugu movies such as Bahubali, Chiranjeevi's Khaidi 150 and Kannada movie Sundaranga Jana, when he took Ola Prime from airport to his home in Bengaluru. Naidu, who is known as Lahari Velu in film circles, checked with ..

Ola raises Rs 670 cr from Ratan Tata-backed fund, other investors

Bengaluru-based firm ahd earlier raised about $250 million from SoftBank in Nov last year

Ola lost Rs 6 crore a day during 2015-16. Here's why

Ola posted a consolidated loss of over Rs 2,311 crore in 2015-16