Why Sachin Bansal invested on Ola
Co-founder of Flipkart Sachin Bansal has decided to invest in ride-hailing company Ola about $100 million and expected more to invest, as Ola CEO Bhavish Aggarwal broaden his aim to Ola. After selling the controlling stake to international online retailer Walmart in May. Sachin Bansal has invested a huge amount in Ola.
However, Sachin Bansal investment has boost up the Ola and gives the relives to Aggravel as he was fighting the long-drawn battle to the backer Softbank Corp who invest more in Ola and increase its stake.
Ola a ride-sharing platform based on India and running the cab more than 100 Indian cities. In September 2018 Ola also moved to the international market like U.K and Australia and more to come in upcoming days. The development at a time when a competing aggressively competing to rival globe ride-sharing company uber and expanding the service in an overseas market
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Ola last declared a fund-raise of $1.1 billion from China’s Tencent Holdings and existing investor SoftBank Group in October last year and said it was in talks to raise another $1 billion.
Ola History
Over the years Ola has collected tranches fresh-funds from many sectors. Previously raised $74 million from existing backer Steadview Capital and Ola total valuation become more than 5 billion dollars.
The Economic Times reported that Softbank expecting to increase more money in Ola and on the other hand Ola trying to finalize more investor to raise funds from the Singapore investor Singapore’s Temasek Holdings Ltd which already bought the shared in Ola through the secondary transaction
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Apart from Ola, it also reported that Bansal invested about $50 million in Ather energy in October, in which he already an investor. According to the source, Bansal also shows a keen interest in increasing Sigtuple stake which uses artificial intelligence to aid medical diagnosis but it not confirmed heather it takes place or not.
Why Sachin Bansal quits Flipkart
Sachin Bansal and Binny Bansal made the Flipkart from zero to billion dollar company. Before selling to the International online retailer Walmart, Amazon also try to buy the Flipkart, but the price was not acceptable, and they both are waiting for the correct time to sell, and Walmart offers were appreciable, and they decided to sell them.
According to the Times of India reports," one of the reasons to quit is Sachin Bansal ideas were not encouraging to them anymore, sometimes wrong decision and keep running the company is not a cup of tea of everyone, Sachin decided to cheer up the company from outside only and who knows when these duos comes up with another billion company.
Sachin Future Plan
Currently, Sachin has bought the property at the Bangalore top porch place where billionaire use to stay and buying the property and investing his in a small company and starts up. The journey of Flipkart is over for him now, established in 2007 as a bookstore and sell in billion that was a tremendous achievement for anyone.
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