Times of India — In March, Ola’s largest investor, Soft-Bank, declared that the cab aggregator controlled 85% of India’s taxi market. Uber India chief executive Amit Jain told ET that Uber is as big as Ola in India in terms of completed trips. Their battle can only get more intense. Jain, in an interview, said the San Francisco-based Uber, which last week raised $3.5 billion (about Rs 23,000 crore) from Saudi Arabia’s sovereign wealth fund, will continue to invest in India to increase its pool of drivers, improve technology, and add categories such as bike taxis. Edited excerpts:
The Star — Ratan Tata, chairman emeritus of the holding company of India’s Tata conglomerate, has bought a stake in online taxi-hailing firm Ola, the company said. Tata, a respected business leader who was the chairman of salt-to-software Tata Sons for more than two decades, has previously invested in start-ups ranging from online retailer Snapdeal to Chinese phone maker Xiaomi.