‘Absolute rubbish’, says Ola Chief Bhavish Aggarwal
CEO Bhavish Aggarwal has denied any merger rumours with Uber India that have surfaced in the recent past. Aggarwal invalidated the merger story that took flight via a report presented by the Economic Times and later taken up by Reuters and NDTV. He replied to a tweet by ETtech that stated a possible merger might be in place as the Ola CEO met with some Uber executives in the American ride-hailing service provider’s home turf, San Francisco California, USA. In his reply, Bhavish mentioned that the report was ‘absolute rubbish’ and added that Ola is profitable and expects to grow further.
The Ola CEO also placed a word for other companies who are willing to exit the business. Uber, in a statement on the same, said, “That report is inaccurate. We are not, nor have we been, in merger talks with Ola”.
While exiting industries are often a case when situations get tight, it is also noteworthy that both Uber and Ola are heavily invested in the Indian market. Uber India recently sold its food delivery arm to Zomato but has not stopped evolving its ride-hailing service and has recently deployed a new feature for the benefit of the drivers and customers. Ola too has big plans for its EV business and has invested heavily in it as well.