Ola articles
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Ola plans $500 million IPO, to appoint banks soon
Ride-hailing firm Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion, three sources with direct knowledge of the matter told Reuters on Friday.SoftBank-backed Ola is India's answer to Uber and plans to file papers for approval with the country's market regulator within three months, said the sources, who declined to be named as the matter is confidential.Ola declined to comment.The company is in talks with investment banks,...
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Ola Cabs CEO quits; Elon Musk scores big win in China
Just three months after joining the ride-hailing firm, Ola Cabs CEO Hemant Bakshi has called it quits. Details on this and more in today’s ETtech Top 5.Also in the letter:■ Govt’s ONDC push on ecommerce sites■ HCLTech shares fall 6% post Q4 results■ ETtech Done DealsOla Cabs CEO Hemant Bakshi resigns; firm to lay off 200 employees 109697809Hemant Bakshi, outgoing CEO, Ola CabsOla Cabs’ chief executive Hemant Bakshi is quitting after just three months in the job, even as the ride-hailing...
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Ola Cabs CEO Hemant Bakshi resigns; company to layoff 200 employees
Ola Cabs chief executive Hemant Bakshi is leaving just three months after the ride-hailing company publicly announced his appointment, with founder Bhavish Aggarwal once again taking over the reins at the firm, people in the know told ET.The company will also undertake a restructuring that will see at least a 10% reduction in headcount, impacting about 200 employees, the people said.Bakshi joined Ola Cabs in the middle of September 2023, but the company publicly announced it only in January this...