Published On: Wed, Sep 16th, 2015

Uber’s India Rival Raising Funds at $5 Billion Valuation

Uber

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.

Read the full story at Bloomberg, by Siddharth Philip and Shai Oster

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