Top Story

e4m_logo.png

Home >> Marketing >> Article

Ola shuts down TaxiForSure, lays off 700 employees; trends on Twitter

18-August-2016
Font Size   16
Share
Ola shuts down TaxiForSure, lays off 700 employees; trends on Twitter

On Wednesday, Ola announced that it is going to shut down its TaxiForSure operations, and as per reports, it will also lay off around 700-1000 employees. A year and a half back, the taxi aggregator Ola had acquired TaxiForSure for $200 million to gain market leadership against rival Uber. It was one of the biggest acquisitions in the domestic consumer internet space. However, since buying TaxiForSure, Ola has been gradually reducing the company’s operations.

Ola has further said that it is offering “enhanced severance benefits and outplacement services” to help affected employees pursue new career opportunities. When the news came out, it was also trending on Twitter.

Earlier this year, the brand had also acquired Micro to take on Uber. It launched the category, pricing it cheaper than their ‘Mini’ at about Rs 6 per km.

Siddharth Kumar Tewary, Founder, Chief Creative, One Life Studios and Swastik Productions, on owning the IP on his most ambitious project 'Porus,' the risk of recovering its cost and his distribution strategy

Webscale plans to build the brand around smooth operations for the e-commerce sector and then move on to demand generation

Shriya Ghate, Business Head, Tinkle, spills the beans on the company's vision for its special line of merchandise launched to celebrate its 37th anniversary, its pricing, marketing strategies, and more

Vivek Patni, Director of Wonder Cement, on the current marketing strategies and challenges that brand owners face

Luis Fonsi, Rita Ora, Jain of Makeba fame , Dimitri Vegas, Jason Derulo, Charly Black and Dasu, J Balvin, Parineeti Chopra, Tiger & Jackie Shroff speak exclusively to the radio channel

The Film-Maker, as the host of ‘Calling Karan’, Will Be Just A Phone Call Away From Listeners Seeking Advice On Love & Relationship

The group aims to double its FMCG turnover to Rs. 1,000 crore over four years.