Yuri Milner’s investment firm DST Global has held talks with Indian mobile app service for cab booking- Ola, to invest $400-500 million in a financial round at a valuation of $2.5 billion. If the deal is finalized, it will be DST’s second investment in Indian domestic consumer internet market. Also, Milner already has a personal investment in Ola.
In a recent news, it was revealed that Ola is in talks to acquire its rival company TaxiForSure for about USD 200 million to compete against Uber in the Indian taxi aggregation market. However no further movement was noted on this.
Ola had raised USD 210 million from Japan’s Softbank Corp in October 2014. It has its services in 50+ cities in the country and 60,000 cabs across the country. Ola’s existing investors include Tiger Global, Matrix Partners, Steadview Capital, and Sequoia Capital. Till date, it has received $277 million in five rounds.