Turn Digital Reputation Threats into Offense Tactics - Daniel Lemin
Ola! catch the $5 b ride
1. Ola! Catch the $5-b Ride
MONEY DRIVE Didi Kuaidi's participation in Ola's latest funding round
is significant as the Chinese firm has picked up stakes in Grabtaxi and
Lyft to further its global alliance against Uber
2. Contd..
China's biggest cab aggregator Didi Kuaidi will chip in with $30 million in a
mammoth funding round being raised by Ola, which will likely also have the
US hedge fund Meru Capital and Scottish investment firm Baille Gifford as
new investors. Ola is in advanced talks to close fundraising of about $500
million `3,000 crore) at a valuation above $5 (.billion, sources said. Didi
Kuaidi's participation in Ola's latest funding round will further its global
alliance against Uber. “Didi Kuaidi is investing around $30 million in the
round, which was oversubscribed.Falcon Edge and GIC Singapore are
expected to be the biggest investors in the new round,“ said a person familiar
with the developments.
Times of India, in its edition dated September 19, first broke the story about
Didi Kuaidi's plan to invest in the Indian company.
3. Contd..
Ola is also in talks with New Yorkbased Meru Capital and Scottish investment
firm Baille Gifford for funding, said a second person directly aware of the
matter. “The investors in the round are still being finalised and it is getting
oversubscribed, so it may be expanded a bit,“ this person said.
“The company is not looking to raise more funding as it does not want to
dilute more than 10%.“ Ola CEO Bhavish Aggarwal did not reply to an email
query.
For this financing round, Ola's val uation is estimated at $4.5 billion before
the investment and is expected to increase to about $5 billion, depending on
the final amount it raises. Ola was valued at around $650 million in October
2014 after a funding round led by Japan's SoftBank, which is also an investor
in Didi Kuaidi. Flipkart was valued at $11 billion after its funding round in
December, and Snapdeal at about $4.8 billion after it closed a $500-million
round in August.
4. Contd..
Ola is raising the money in two tranches, multiple sources said.The first, already
raised, brought in . 1,478 crore and was led by existing ` investors Falcon Edge
Capital, which put in ` . 515 crore, and Tiger Global, which invested ` . 397 crore.
SoftBank put in ` . 384 crore. Existing investors DST Global and GIC, which did not
participate in the first tranche, are expected to participate in the second, sources
said.
New investors in the round included Parkwood Bespin and JS Capital, besides
Facebook Asia vice president Dan Neary. The investment from Didi Kuaidi, which
recently raised $3 billion in one of the largest funding rounds globally, is significant
as the Chinese firm has picked up stakes also in Singapore's Grabtaxi and Lyft, both
Uber competitors in their respective markets.
Ola is expected to cross annual gross revenue run rate of $1 billion by the end of
the year, boosted in part by its $200-million acquisition of rival TaxiForSure, whose
revenue has doubled since the deal closed in March. Ola has raised about $700
million overall.
5. For details and bookings contact:-
Parveen Kumar Chadha… THINK TANK
(Founder and C.E.O of Saxbee Consultants & Other-Mother
marketingandcommunicationconsultants.com)
Email :-saxbeeconsultants@gmail.com
Mobile No. +91-9818308353
Address:-First Floor G-20(A), Kirti Nagar, New Delhi India Postal Code-110015