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Uber’s Indian competitor Ola gets another sharp markdown; hits nearly a decade-low

VCCircle

VCCircle · 1y ago

Uber’s Indian competitor Ola gets another sharp markdown; hits nearly a decade-low

Ola, the Indian rival of Uber, has experienced another significant markdown in its valuation, causing it to reach a low point not seen in nearly a decade, according to estimates by VCCircle. This latest development adds to the ups and downs in Ola's valuation over the past four years. The ride-hailing company continues to face challenges in maintaining its market position in the competitive Indian market.

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Vanguard cuts Ola’s valuation to $2 bn amid IPO buzz

The Arc Web

The Arc Web · 9m ago

Vanguard cuts Ola’s valuation to $2 bn amid IPO buzz

Vanguard, a U.S.-based asset management firm, recently reduced its valuation of Ola, India's ride-hailing company, to around $2 billion, down from a 2021 peak of $7.3 billion. Vanguard initially invested in Ola in 2015, valuing it at nearly $5 billion. Over the years, Ola's valuation has fluctuated, including a sharp drop to $1.9 billion in early 2024, a 74% decrease from the 2021 high. This markdown is significant, as Vanguard holds $9.3 trillion in assets and Ola is preparing for an IPO. Analysts believe Vanguard's valuation cut may influence Indian mutual funds' perceptions of Ola as it moves toward public listing.

Cab-hailing firm Ola barely manages to retain unicorn tag with latest valuation markdown

VCCircle

VCCircle · 3m ago

Cab-hailing firm Ola barely manages to retain unicorn tag with latest valuation markdown

Ola, a private equity-backed cab-hailing company in India, is facing a valuation markdown, barely maintaining its unicorn status. The firm, planning an IPO like its group entity Ola Electric, is adjusting to a significant valuation drop by an existing investor, bringing its value to levels not seen in over a decade. This development comes as Ola navigates the market's changing conditions and investor sentiments, reflecting challenges in sustaining previous high market evaluations.

Ola gets a breather after sharp valuation cut ahead of planned IPO

VCCircle

VCCircle · 1y ago

Ola gets a breather after sharp valuation cut ahead of planned IPO

Ola, an Indian ride-hailing company, has received a slight boost in valuation from one of its investors after facing a sharp cut in its valuation last year. The private equity-backed cab aggregator has recently seen a marginal increase in its value, providing some relief for the company. This comes as Ola prepares for its planned Initial Public Offering (IPO).

Ola Founder Bhavish Aggarwal criticised for his remark on Koo shutdown

Inshorts · 1y ago

Ola Founder Bhavish Aggarwal criticised for his remark on Koo shutdown

Ola Founder Bhavish Aggarwal is being criticised on X after he remarked "recreating what already exists won't help" on the shutdown of Koo, the Indian social media platform once seen as a competitor of X (formerly Twitter). "Says someone who made a career by copying Uber/Lyft," an X user said. "How different is Krutrim? Isn't it a recreation," asked another.

BlackBuck gets a valuation markdown ahead of IPO as it divests key revenue generator

VCCircle

VCCircle · 1y ago

BlackBuck gets a valuation markdown ahead of IPO as it divests key revenue generator

Indian logistics startup BlackBuck has received a valuation markdown ahead of its upcoming IPO. The company, which reached unicorn status in 2021, has divested a key revenue generating division. BlackBuck is set to go public amidst intense competition in the rapidly growing Indian market.

Blue-Chip Company Debt Deluge Hits Hottest Two-Day Volume Ever

Livemint

Livemint · 11m ago

Blue-Chip Company Debt Deluge Hits Hottest Two-Day Volume Ever

After two days of record-breaking sales in the US blue-chip corporate debt market, another 11 companies are set to sell bonds on Thursday. Demand for these securities remains high, with nearly 50 companies having already sold a combined $71.9 billion worth of new bonds earlier in the week. This rush to issue bonds is driven by low borrowing costs and strong investor appetite. However, the upcoming Federal Reserve interest rate cut and the large number of recent issuances could potentially limit future demand.

Cab-hailing firm Ola Consumer gets another valuation cut

VCCircle

VCCircle · 9m ago

Cab-hailing firm Ola Consumer gets another valuation cut

Cab-hailing firm Ola Consumer is facing another valuation cut as an existing investor, Vanguard, has revised its fair value estimate downwards by about 15%. This comes after Vanguard slashed Ola's valuation to just under $2 billion last year. Ola has experienced significant fluctuations in valuation over the past four years and is now worth roughly half of its group firm, Ola Electric. The COVID-19 pandemic hit Ola hard, with revenue plunging about 95% as lockdown measures curbed travel demand. Ola Consumer is reportedly planning an IPO following in the footsteps of Ola Electric.

Ola Electric hits fresh all-time low at ₹50.81 on Tuesday

Inshorts · 4m ago

Ola Electric hits fresh all-time low at ₹50.81 on Tuesday

Shares of Ola Electric fell for the third straight session on Tuesday, dipping as much as 5.5% to reach an all-time low at ₹50.81 on the BSE. The stock was trading at ₹51.41, down 4.4% from the previous close of ₹53.80. Ola Electric market capitalisation stood at ₹22,693.72 crore.

Ola Electric Hits 20% Upper Circuit After Venturing Into E-Bike Space

Inc42 · 11m ago

Ola Electric Hits 20% Upper Circuit After Venturing Into E-Bike Space

Ola Electric's shares surged by nearly 20% to reach a 52-week high of INR 132.76 after unveiling its electric motorcycle portfolio 'The Roadster Series'. This comes as new players like Ultraviolette, EMotorad, Motovolt, and Toutche Electric enter the electric bike market. At 12:07 PM, Ola Electric shares were trading at INR 129.03.

What an IPO signals about Ather's battle against Ola Electric

Livemint

Livemint · 10m ago

What an IPO signals about Ather's battle against Ola Electric

Ather Energies, an electric vehicle manufacturer, has filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) nearly a month after competitor Ola Electric went public. Despite being overtaken by Ola Electric in terms of sales, Ather Energies' decision to go public suggests a shift in its strategy. Ola Electric's aggressive pursuit of scale has led to significant revenue growth, while Ather Energies has focused more on product quality and reputation. Despite their differing approaches, both companies are capitalizing on the increasing adoption of electric vehicles in India.

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