Tencent in talks to invest $400 million in Ola: report
Chinese internet conglomerate Tencent is in advanced talks to invest in transport app Ola, said a report in The Economic Times. The company may invest $400 million (approximately Rs2,500 crore), if the deal gets completed successfully, added the report.
The Tencent investment will help Ola raise over $800 million in fresh total funding, which will push Ola’s valuation to over $4 billion, the report added.
The report said Tencent executives were in Bengaluru last week, and they met the Ola management team to discuss the transaction.