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Microsoft may invest upto $100 million (Rs.640 crore) in Ola
Posted on: 26-07-2017 , 01:14:PM | DY365 Bureau

 Image for representational purpose only. Source : Internet

The online app based taxi service provider Ola, the third-most valuable start-up in the country, has been trying to raise capital investment since June 2016 and till date have received Rs2,345 crore from SoftBank Group Corp. and few others.

But now, Microsoft Corp., the World’s Technology Giant, have planned to invest around $50-100 million (Rs320-640 crore) for a small stake in Ola’s parent company ‘ANI Technologies Pvt. Ltd’, the company which runs Ola.

Microsoft’s Chief Executive Satya Nadella wishes to see the ride-hailing service switch to Microsoft’s Azure cloud platform from Amazon Web Services (AWS).

An official involved with the startup said, “The talks with Ola are in very early stages. More than the money, it is more about Nadella’s vision of partnering with more and more large technology companies in India.”

Ola needs a huge amount of finance as it is in battle with Uber, the world’s most valuable and deep-pocketed start-up.

 
 

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