SoftBank comes calling again to infuse $1B in Ola - dailyOnews



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Tuesday, December 4, 2018

SoftBank comes calling again to infuse $1B in Ola

Japanese investment major SoftBankhas offered to invest as much as $1 billion in a new financing round for Ola, as the ride-hailing company plans to aggressively grow its food delivery business, said several people familiar with the development. 

Further the taxi aggregator may invest in areas such as e-pharmacy and is said to be close to finalising an investment in this fast-growing sector.

It’s not clear if Ola’s cofounder Bhavish Aggarwal will accept more capital from SoftBank and allow the investor to ratchet up its shareholding from about 26% at present. However, he may consider a smaller amount from the Japanese investor, these people indicated.

“Son and Aggarwal have met multiple times recently but taking such a big amount from SoftBank has an imminent risk which Ola wants to avoid,” said one of the people cited above.

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