Co-founder of Flipkart makes 650 Cr investment in Ola Cabs

Sachin Bansal who apart from being the co-founder of Flipkart is also India’s foremost internet entrepreneur. He made an investment of INR 650 Cr in the taxi-hailing company Ola. Ola was founded back in 2011 by Bhavish Aggarwal and Ankit Bhati and has proved to be one of the essential taxi-hailing apps available on the market in India, apart from Uber. Ola has come a long way since then. In 2016, Ola Play which is a connected car platform for ride-sharing was introduced for the first time in the market. The news of this huge investment was in fact announced by Sachin himself who appears to be thrilled with his new venture with Ola. This investment is both Sachin’s personal capacity as an investor and is a part of Ola’s larger Series J funding round.

Thrilled to be part of this journey with @bhash and the @Olacabs team. Ola is a household name today and is a global force in the mobility ecosystem. Their success is important for all of us and I’m excited about the vision they are building towards. https://t.co/xhxKL2i72L

— Sachin Bansal (@_sachinbansal) February 19, 2019

Sachin further commented on his investment saying,

Ola is one of India’s most promising consumer businesses, that is creating deep impact and lasting value for the ecosystem. On one hand, they have emerged as a global force in the mobility space and on the other, they continue to build deeper for various needs of a billion Indians through their platform, becoming a trusted household name today

He further added, “I have known Bhavish as an entrepreneur and as a friend over these years and I have great respect for what he and the team at Ola have built in just 8 years! I am personally thrilled to be part of the Ola journey and I look forward to contributing to their success.”

I'm super excited to welcome @_sachinbansal onboard as an investor in @Olacabs. Sachin is an icon and an inspiration to a whole generation of entrepreneurs. I look forward to learning from him as we build one of the most impactful businesses out of India! https://t.co/cApT2HsMcc pic.twitter.com/SGIaJrXirA

— Bhavish Aggarwal (@bhash) February 19, 2019

He further made a statement, saying, “We are extremely thrilled to have Sachin onboard Ola as an investor. Sachin is an icon of entrepreneurship and his experience of building one of India’s most respected businesses ground up, is unparalleled. His investment is a huge encouragement for all of us at Ola and our mission to serve a billion people. I personally look forward to learning from Sachin’s journey, his mentorship and guidance, as we look to build one of the most impactful global businesses out of India.”