China’s Tencent may put $400 million in Ola to fight Uber
Chinese internet major Tencent is likely to lay one of its most significant bets in India as it closes in on a $400-million (over Rs 2,500crore) investment in the homegrown ride-hailing startup Ola, two people close to the matter said. The capital from Tencent will give much-needed firepower to Ola, which has been on a fund-raising trail since last year and been wanting to get on board a heavyweight investor to offset SoftBank’s dominance as the largest shareholder in the Bengaluru-based company.
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SOURCE: Times of India
tags: ola ride hailing tencent