Ola, an Indian ride-booking competitor to Uber Technologies Inc., is close to raising funds that will give the company an estimated valuation of at least $5 billion, according to people familiar with the plans.
The Indian app operator, owned by ANI Technologies Ltd., is close to raising $500 million in the current financing round, the people said, asking not to be identified as the information is private.
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Read the full story at Bloomberg, by Siddharth Philip and Shai Oster
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