Ola Cab has announced that “We are thrilled to share that Mr. Ratan Tata has recently invested in Ola, in his personal capacity. While I am personally very excited about this, as a company we can now learn from the rich experience of one of the finest business leaders of our times.”
In last one year Ratan Tata has invested in Snapdeal, paytm, Cardekho.com, Bluestone and Urban Ladder.
Financial details of the deal are not yet disloced by Ola Cab. In march 2015, Ola acquired Taxiforsure for Rs 1240 crore or USD 200 million (1USD-Rs 62), leaving Uber far behind to become the leader in cab aggregator space.
Ola cab was founded in the year 2010 by Bhavish Aggarwal and Ankit Bhati. The company claims to have grown to serve millions of customers in 100+ cities with over 200,000 driver entrepreneurs on their platform in a span of just 4 years since inception. It’s top competitors include Uber and Meru.
In March 2015, Ola entered into online food delivery services in India with OLA CAFE to offer food delivery service in four cities of India Bangalore, Hyderabad, Delhi and Mumbai.