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Ola in talks to pick up 26% stake in carpooling app sRide

Feb 18, 2019 by The Passage Team
Ola in talks to pick up 26% stake in carpooling app sRide

ANI Technologies, which owns and operates ride hailing platform Ola, is in discussions to invest in Pune-based carpooling app sRide, according to sources briefed on the developments.

The negotiations, which are currently believed to be at the diligence stage, could see the SoftBank-backed Ola pick up a stake of 26% and upwards in the three-year-old sRide. Sources pegged Ola’s potential investment in sRide at Rs 30 crore, at a valuation of Rs 100-150 crore.

Additionally, a number of top venture capital firms have also shown interest in sRide, according to the sources cited above, who added that the investment firms could participate alongside Ola, or pump in capital in a fresh round in the company.

Source: Economic Times

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