Ola cabs the market leader in personal transportation space has acquired it's competitor TaxiForSure. This marks the second largest buyout of an Internet company in India after Flipkart acquired Myntra.
Just in 3 years time OLA is leading the urban mobility space through consolidation giving a strong competition to UBER.
REASONS FOR THIS MERGER
a) TaxiforSure has a big focus on the lower end of the cab hire segment
b) Ola to deepen its footprint in taxi hailing space in India.
c) Increase Ola’s position as the widest-reaching taxi app service in India
Ola was funded by Softbank and if you observe carefully Softbank funded app based cab startups in Asia are announcing mergers.
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