Vanguard Slams Brakes on Ola's Valuation / A Significant Downturn
Matilda
Vanguard Slams Brakes on Ola's Valuation / A Significant Downturn
Indian ride-hailing giant Ola has faced a significant valuation cut by U.S. asset manager Vanguard. As of late August 2023, Ola's valuation is pegged at $2 billion, a sharp decline from its $7.3 billion peak in late 2021. This devaluation reflects the broader challenges facing the Indian tech sector, particularly in the ride-hailing segment. Intense competition, rising costs, and economic headwinds have contributed to this downturn. A Closer Look at the Numbers Vanguard's recent filing reveals a substantial decrease in the valuation of its stake in ANI Technologies, Ola's parent company. The implied valuation of $2 billion for Ola signals a significant downward trend. This is not the first such cut; Vanguard had previously lowered Ola's valuation to $2.6 billion in August 2023. The Broader Tech Landscape Ola's valuation woes are part of a broader trend affecting the global tech industry. Many tech startups, especially those in ride-hailing and e-commerce, have seen thei…
