Advertisement
UK markets open in 7 hours 8 minutes

  • NIKKEI 225

    39,583.08
    +241.58 (+0.61%)
     

  • HANG SENG

    17,718.61
    +2.11 (+0.01%)
     

  • CRUDE OIL

    81.79
    +0.25 (+0.31%)
     

  • GOLD FUTURES

    2,335.70
    -3.90 (-0.17%)
     

  • DOW

    39,118.86
    -45.24 (-0.12%)
     

  • Bitcoin GBP

    49,597.47
    +1,476.65 (+3.07%)
     

  • CMC Crypto 200

    1,301.49
    +17.66 (+1.38%)
     

  • NASDAQ Composite

    17,732.60
    -126.10 (-0.71%)
     

  • UK FTSE All Share

    4,451.92
    -8.35 (-0.19%)
     
Property :

8 UK holiday home businesses you could buy now

A holiday let could be a very sound investment, providing a decent income, capital growth and — somewhere to escape

India's Ola to stop ride-hailing operations in international markets

Reuters
·1-min read
An employee speaks over his phone as he sits at the front desk inside the office of Ola cab service in Gurugram

BENGALURU (Reuters) - Ola said on Tuesday it was exiting its ride-hailing businesses in the UK, Australia and New Zealand as the startup focuses on its home market India, where it is locked in a battle for market share with Uber.

Ola Cabs, founded in 2010 by Bhavish Aggarwal, was operating in the international markets since 2018. Earlier this year, U.S. asset manager Vanguard cut Ola's valuation by 30% to under $2 billion.

Parent ANI Technologies was valued at $7.3 billion in its most recent fundraise in 2021, and is yet to report a profit.

Last year, electric-scooter maker Ola Electric, which was spun off from the ride-hailing business, filed to go public.

(Reporting by Nandan Mandayam in Bengaluru; Additional reporting by Manvi Pant; Editing by Shounak Dasgupta)