Ratan Tata invests in taxi-hailing company Ola

Ola did not disclose financial details of the investment, but said Tata had taken a stake in his individual capacity.

Published: 02nd July 2015 11:53 AM  |   Last Updated: 02nd July 2015 11:53 AM   |  A+A-

tag-reuters (7)

Ratan Tata in his personal capacity has invested in over a dozen new businesses so far, most of them being technology driven. | (File/Reuters)

REUTERS: 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 on Wednesday.

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.

Ola did not disclose financial details of the investment, but said Tata had taken a stake in his individual capacity.

In most cases, analysts say Tata's investments have not been big, but are considered valuable for startups because of the validation and mentorship these endorsements bring.

Ola, which competes with Uber in India, is the country's biggest online cab service.

Backed by Japan's Softbank, Ola bought TaxiForSure in March for $200 million in one of India's biggest e-commerce deals as the company plans to see off its domestic rivals and the emerging challenge of fast-growing U.S.-based rival Uber.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp