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Softbank offers a billion dollars to Ola again?: Reports

Dec 04, 2018 10:51 IST

Japanese investment major SoftBank has reportedly offered to invest as much as 1 billion dollars in a new financing round for Ola. It’s not clear if Ola’s cofounder Bhavish Aggarwal will accept more capital from SoftBank and allow the investor to hike its shareholding from approximately 26% currently. Sources indicate Ola may also look at bringing in other investors for the new round of funding. Both SoftBank and Ola denied comment on the news. In 2016, Aggarwal had refused a $1-billion offer from Soft-Bank, to avoid handing over control to the Japanese group.

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