Investors join together to compete against Uber

One of the ride sharing companies is trying to compete against its global competitor and in talks with the investors to raise one billion dollar. The leading online transportation company in India is the OlaCabs which is known as Ola, Uber is trying to beat Ola in its own country. The existing investors of the Indian ride sharing company are Sequoia Capitals, DLT Global and SoftBank are participating to raise money against Uber. And two more investors from the United States have come forward to fund the company. Didi is the global investor and collaborator of Ola and they will also join the other investors to compete against the rival American company. This will indirectly build a competition between the two tech giants Apple and Google because the tech company Apple invested one billion dollars in Didi while Google’s investment group Google Ventures invested funds for the American ride sharing giant in 2013.

The SoftBank is the common investor for the Indonesian car hailing company Grabtaxi, Lyft, Ola and Didi is a major source to compete against Uber. This is the first attempt of the Indian company to raise funds against the rival company because they plan to spend their funds in India. The American ride sharing giant received $3.5 billion from the Saudi Arabia and the company’s President for India, Amit Jain said that the company has a fifty percent market share in India and they are planning to invest their recent funds in the country to become the market giant in India. A ride sharing company that has more number of drivers and riders becomes the ultimate winner in the industry and both the ride sharing companies Uber and Ola have the same business model and are having the same space. So the company that increases its market among the drivers and riders becomes the winner

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