News on Medial

Indian ride-hailing giant Ola quits UK, Australia and NZ in international pullback

TechCrunch · 1y

Indian ride-hailing company Ola is closing down its operations in the UK, Australia, and New Zealand as it shifts its focus back to the domestic market. The SoftBank-backed startup plans to strengthen its presence in India before its upcoming initial public offering (IPO). Ola currently operates in hundreds of cities in India and offers various transportation options. Despite exploring merger possibilities with Uber, Ola has not reached an agreement and both companies continue to operate independently. Ola Electric, Ola's electric two-wheeler brand, is also preparing for its IPO, aiming to raise $662 million.