Ola Cabs Valuation Falls to $2 Billion After Vanguard Review. The valuation of Ola Cabs has taken a significant hit, dropping to $2 billion after a review by Vanguard.
Vanguard's assessment led to a reevaluation of Ola's worth, resulting in a substantial decrease. This change in valuation is a notable development in the company's financial landscape.
Ola's valuation was once estimated to be around $10 billion, but the recent review has brought it down to a more modest figure.
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Vanguard Valuation Updates
Vanguard has marked down Ola's valuation to $1.25 billion, a more than 80% drop from its peak valuation of $7.3 billion in 2021.
Vanguard made its investment in Ola in 2015 and has cut the company's valuation multiple times.
The US-based investment firm valued Ola at $2 billion in November 2023, after initially downgrading it to $1.88 billion in February 2024.
Ola's core business reported a 63% increase in sales to INR 1,987.5 Cr in FY23 from INR 1,220 Cr in FY22.
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Vanguard slashed Ola's valuation by another 29% to $1.88 billion on its books from $2.65 billion earlier.
This is the sixth valuation markdown of Ola by Vanguard, and the markdown comes nearly two months after Vanguard slashed Ola's valuation to approximately $2.65 billion.
Ola's net loss declined 64.8% to INR 1,082.5 Cr during the year under review from INR 3,082.4 Cr in FY22.
Vanguard now values its share in ANI Technologies at $14.3 million, less than the $51 million that was initially invested by the company to acquire those shares.
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Vanguard Downgrades Valuation to $2B
Vanguard, a US-based investment firm, has reduced Ola's valuation to around $2 billion.
The company made its investment in Ola in 2015 and has cut the company's valuation multiple times.
Ola, which competes with Uber and Rapido, was valued at $7.3 billion in 2021.
The US asset manager cut the company's valuation to $1.9 billion in February this year, which is 74 percent lower than the valuation in December 2021.
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Ola reportedly raised around $139 million from several investors, including IIFL, Edelweiss, and Hero Enterprise.
Vanguard has marked down the valuation of the Bengaluru-based cab aggregator by another 29% to $1.88 Bn on its books from $2.65 Bn earlier.
This is a 74% mark down from Ola’s peak valuation of around $7.3 Bn.
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