Ola To Acquire TaxiForSure For $450mn !

This was in making. And comes pretty early.olacabs_logo_thumb.png
Ola is in talks to acquire TaxiForSure and from what we know, the deal is valued at $450mn* – with a mix of cash and equity.
Plus, Ola is also in talks to raise a massive round (~$500mn) at a valuation of $3Bn+.
TaxiForSure earlier raised ~$40mn in Series C from Accel, Helion and Bessemer, while Ola recently raised $210mn in Series D led by Softbank. As far as the number of cabs are concerned, Ola has surpassed them all post the last funding round by a good multiple.taxiforsure.png
Takes Two (+ Softbank) To Tango
Globally, Softbank is building massive competition for Uber and recently invested $250mn in SE Asia based GrabTaxi. The combined entity, Ola and TaxiForSure will make it all the more difficult for Uber to capture the Indian market – but the real deal is in driving more customers (and stickiness beyond discounted offerings).
Aside, what shall we call the combined entity? OlaForSure? 🙂
Recommended Read: Between Between Ola And TaxiForSure : Two Amazing Marketing Campaigns
* more details as we get them. We still haven’t got any confirmation on the numbers.

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