Ola, which is a cab-hailing major is now in talks to acquire a significant stake of 26% in Pune based carpooling app sRide. Ola is reportedly investing Rs 30 crore in the sRide that may even take the valuation of the four old startups in the range of Rs 100-Rs 150 crore.
Ola is bet on sRide, as it would be the first institutional round for the bootstrapped startup that may also be joined by some of the top ventures capital firms.
The startup provides with the convenient one to one deal between the person and the driver availing the ride that starts from just at Rs 3/km.
The company carpooling business has been highly contested by arch-rival Uber that provides the offers cost-effective ridesharing option under the Uber pool. The US-based company is coming soon with the Express Pool, a service similar to the Ola Share Express.
Picture Credits: sRide