Ola Scales Down Food Delivery Ambition; To Focus On Quick Commerce
IPO-bound mobility giant Ola is now looking to scale down its food delivery business to focus on quick commerce for the third time.
Source: inc42.com
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Ola's founding partner Pranay Jivrajka quits, may start his own startup
Business Standard on Tuesday. Jivrajka, who is in his early thirties, is leaving when Ola has new growth plans, including setting up a Rs 2,400-crore electric vehicle facility expected to become the world’s largest two-wheeler factory. Ola’s ride-hailing business is recovering after the coronavirus pandemic’s hurt and demand for its food business and financial services improves. Under Jivrajka’s leadership as chief executive officer (CEO) of Ola Foods, the firm’s new business grew in the coronavirus pandemic. The recovery came on the back of the gradual unlocking of the economy as...
Source: business-standard.com