01/05/2017
Why does Ola need so much cash?
The taxi industry is booming. For the past couple of years, players like Ola have been constantly raising money from the investors and investing it big in the market. Yet, we seem to know so little about the business model and revenues of these leading players. For instance, Ola is yet to file its updated accounts with the Registrar of Companies (ROC) , as mandated by law. What could be the reason for the delay? Is all well (financially) at India's most loved unicorn?
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One of India’s hottest unicorn Ola Cabs is raising yet another $100 million to run its huge cab-aggregator business in India. According to regulatory filings made with the Corporate Affairs Ministry under the Companies Act, the board of the Bengaluru-based ANI Technologies – which operates Ola – sai...