Flipkart’s Co-Founder Sachin Bansal has invested 92 Million Dollar in Ola India. It has been one of his most significant investments ever made after quitting the Flipkart. After Walmart acquired Flipkart’s business in India, Sachin Bansal invested 92 Million Dollars in this business in India.
The Deal of 150 Crore INR was rumored in January as per sources. But Now, Ola has officially announced the investment of Sachin Bansal of 92 Million Dollar (650 Crore INR). After selling Flipkart to Walmart for 16 Billion Dollars, Sachin Bansal has made his first significant investment.
Also, Sachin Bansal will not be involved in significant roles in Ola with this investment, confirmed OLA Spokesperson.
According to Source, Sachin Bansal said
“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.
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.”
Bhavish Aggarwal, Ola CEO titled Sachin Bansal as “an icon of Entrepreneurship” and said,
“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.”
Ola and Uber have fierce competition in India. Uber has also started slowly acquiring the Indian Market. And in fact, Ola has covered more than 100 countries worldwide. Being an Indian company, Ola might have to face some problems acquiring other countries, this investment made by Bansal can push Ola to grow the business in other countries as well.
The deal between Flipkart and Walmart is going to make considerable changes in the Indian markets. These Investments in Indian Companies will help us to have better Eco System. Let’s see what happens next. Stay tuned to TechDefinite for more on Business/Marketing.
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