Synopsis
Ola Cabs is shutting operations in the UK, Australia and New Zealand. Despite high profile hires, buzzy marketing and initial enthusiasm, Ola couldn’t make headway in ride sharing in these advanced markets. Shutting these down could save Ola as much as USD15 million annually.
Ride-hailing unicorn Ola Cabs is folding its ambitious international business six years after a grandiose launch. The company was operating in 40 cities across the UK, Australia and New Zealand. An Ola spokesperson has confirmed this development to ET Prime. “We’ve reassessed our priorities and have decided to shut down our overseas ride-hailing business in its current form in the UK, Australia and New Zealand,” Ola said in response to a query
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