CosmicTaco

Vanguard Slashes Ola's Valuation to $2 Billion

CosmicTaco · 2024-11-04T18:01:52.549968+05:30

- Vanguard has revised its valuation of Indian ride-hailing startup Ola to about $2 billion. - The U.S. asset manager’s fund values its holding in ANI Technologies, Ola's parent firm, at about $14.3 million. - This implies a valuation of about $2 billion for the Bengaluru-headquartered startup, down from $7.3 billion in late 2021. - Ola competes with Uber, Swiggy-backed Rapido and Google-backed Moving Tech in India’s ride-hailing market. - Ola Electric, which spun out of Ola Cabs, went public earlier this year and commands a market cap of $4.2 billion. Source: [Techcrunch](https://techcrunch.com/2024/11/04/vanguard-cuts-ola-valuation-to-2-billion/)

Vanguard has revised its valuation of Indian ride-hailing startup Ola to about $2 billion.
The U.S. asset manager’s fund values its holding in ANI Technologies, Ola's parent firm, at about $14.3 million.
This implies a valuation of about $2 billion for the Bengaluru-headquartered startup, down from $7.3 billion in late 2021.
Ola competes with Uber, Swiggy-backed Rapido and Google-backed Moving Tech in India’s ride-hailing market.
Ola Electric, which spun out of Ola Cabs, went public earlier this year and commands a market cap of $4.2 billion.

Source: Techcrunch