Ola, a ride-hailing platform out of India, recently invested $60 million into their worldwide operation in the past year or so according to recent financial filings.
The India-based company competes with America’s Uber across markets like Australia, New Zealand and the UK. The capital invested only reflects additional costs of running local operations, marketing and incentives, according to sources aware of Ola’s plans.
The capital invested only reflects additional costs of running local operations, marketing and incentives, according to sources aware of Ola’s plans.
Whereas the amount spent on technology, people and call centres in these international markets are housed in India and, therefore are not reflected in the filings made in the island nation, the people said.
“The international business alone is expected to contribute to more than a third of Ola's consolidated revenue by the end of this financial year,” said one person cited above.
Ola Singapore Pte – the investment entity that controls Ola’s interest in international markets received $6 million from its parent ANI Technologies in March this year. New Zealand, Australia, UK, Sri Lanka, Bangladesh and the US fall under Ola Singapore. Recently, the cab aggregator moved the entity which runs its UK operations from Singapore to the Netherlands.
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