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Clues by NC Team • 11 Feb 2019, Monday

Ola has signed a term sheet with Mirae Asset-Naver Asia Growth Investment Fund. The Fund was set up by South Korean financial services firm, Mirae Global Asset Management, and South Korean internet conglomerate Naver to invest in India’s rapidly expanding consumer internet ventures. The fund is now looking to buy a stake in India’s largest ride-hailing platform Ola. The investment is likely to value Ola at $5.5-6 billion. However the exact amount of investment is not known. Ola reported a 61% rise in revenue to Rs 2,223 crore in FY18 while curbing losses by 42% at Rs 2,842 crore. 

Read More at The Economic Times

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