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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
False promises, allegations of fraud and over Rs 1,000 crore in cumulative losses bring Ola’s car leasing business to a grinding halt.
A cab driver from Telangana, S had always wanted to own a vehicle, but never had enough money or the requisite supporting documents to get a vehicle loan. So when Ola Fleet Technologies Pvt. Ltd—a wholly owned subsidiary of ANI Technologies, better known as Ola Cabs—launched its new vehicle leasing scheme in 2017, he jumped at it. He paid Rs 26,000 upfront in November that year for leasing a sedan that was barely a few months old, after the company assured him that he could own the car within four years.
The company promised S a steady daily business (around …
The EV maker is back for fresh capital as its businesses fail to generate enough to sustain themselves.
As Rapido and Uber pull ahead, falling traction and mounting financial stress leave Ola with few options.
The popular super app startup is seeing widening losses, Dubai’s financial zone wants more wealth and Aramco’s big quarter.
