Ola Purchases TaxiForSure At USD 200 Million

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TaxiForSure had recently announced it moving into a new workspace. Now the fleet taxi service provider is in the news once again, as it has been purchased by Ola. The deal has been struck for USD 200 million and employees will be allowed to keep their jobs.

TaxiForSure, COO, Arvind Singhal will also continue with his job as the CEO.The merger of both these companies will further improve their service, along with presence in the competitive Indian market.

The founders of TaxiForSure will also be utilised in some manner or the other. As of now they will play an advisory role for a short duration. The bangalore based taxi service provider was founded by Aprameya Radhakrishna and Raghunandan G.

Bangalore based taxi service provider currently has 15,000 automobiles registered with them. They have a strong presence in approximately 47 cities across India. Ola will surely benefit from this acquisition and TaxiForSure will provide as a valuable commodity.

Currently there are also talks that the US based Uber is looking keenly to acquire Meru and their services. Meru is one of the most popular cab services in India and they have constantly restructured themselves to be the frontrunners in their field.

Ola was founded in 2010, back then it was called as Olacabs. They have a strong presence in almost 67 cities of India and are constantly on the lookout to grow this. They have now acquired TaxiForSure and this will surely hop them taking their business to the next level.

Story first published: Monday, March 2, 2015, 17:18 [IST]
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