Ola To Launch In New Zealand, Expand Overseas Rivalry With Uber

The Indian start-up founded in 2011, which is backed by Japan's SoftBank Group, first expanded its international operations with a foray into Australia and the United Kingdom this year.

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Ola To Launch In New Zealand, Expand Overseas Rivalry With Uber

Indian ride-hailing platform Ola said on Tuesday it plans to launch operations in New Zealand (Reuters)


Indian ride-hailing platform Ola said on Tuesday it plans to launch operations in New Zealand, and expand its overseas rivalry with US based peer Uber Technologies Inc.

The Indian start-up founded in 2011, which is backed by Japan's SoftBank Group, first expanded its international operations with a foray into Australia and the United Kingdom earlier this year.

Brian Dewil has been appointed as country manager for New Zealand operations, Ola said. The company, which is competing with Uber in India's $12 billion taxi market, did not provide further details about its expansion plans.

Meanwhile, Ola has also raised $50 million at a valuation of roughly $4.3 billion from Hong Kong-based Sailing Capital and the China-Eurasian Economic Cooperation Fund, a media report said.

© Thomson Reuters 2018


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