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Business News/ Companies / News/  Uber-Ola price war continues; regulations may be put in place for ride hailing firms
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Uber-Ola price war continues; regulations may be put in place for ride hailing firms

In other news, InMobi shutters the animated discovery part of Miip it launched last year

In the fight to win back market share from Uber, Ola introduced Micro, priced at Rs6 per km, which has worked in Ola’s favour in keeping Uber at bay. Photo: Hemant Mishra/MintPremium
In the fight to win back market share from Uber, Ola introduced Micro, priced at Rs6 per km, which has worked in Ola’s favour in keeping Uber at bay. Photo: Hemant Mishra/Mint

Bengaluru: Mint presents a wrap of the happenings in the e-commerce and start-up world. Who is struggling with regulations? Who shut down? And who is shifting its business focus?

Suggested price cap for taxi aggregators

On Monday, a panel of state transport ministers recommended capping fares of taxi aggregators and liberalizing city taxi permit schemes for companies such as Uber and Ola, and said that they be allowed to operate in the country with appropriate regulation. Read more

Ola seeks fresh funds

Ola has initiated talks with investors to raise $300-400 million in a new round of funds to take on rival Uber, but it may have to lower its expectations, depending on investor appetite. The company is talking to both new and existing investors such as Didi Chuxing and SoftBank Group and, like its last fund-raise, it may first get funds from its existing investors and then top it up with cash from new investors. Read more

Price war

In the fight to win back market share from Uber, Ola introduced Micro, priced at 6 per km, which has worked in Ola’s favour in keeping Uber at bay. In response, cash-rich Uber, slashed prices in Delhi earlier this week and is now offering rides for as low as 20 in Mangaluru for a week. Mint reported today that Ola plans to respond with discounts and price cuts of its own in some of its markets, according to one person familiar with the matter. Uber’s price cuts come after the company lost out to Ola after the latter launched Micro in early March. Read more

Uber invests in leasing programme

Uber pumped in at least 43 crore in Mumbai-based car leasing firm Xchange Leasing India Pvt. Ltd between January and March this year, in a move that could see the San Francisco-headquartered company significantly boost its supply through leasing programmes to take on home-grown rival Ola, which also started buying cabs and lending them to new drivers, as it moved to a part-inventory model to build exclusivity with drivers. Read more

InMobi shutters the animated discovery part of Miip it launched last year

It’s back to the basics for InMobi as it discontinued the animated cartoon-led discovery commerce part of the product called Miip it launched last year. Now, the firm looks to tap into e-commerce companies’ immediate need for profits by offering them native product-listing ads that can drive traffic and transactions. Read more

Shutting down

GetNow.at, a hyperlocal marketplace based in Nagpur has shut down and laid off eight employees, Read here, while logistics start-up Parcelled has pivoted its business model by outsourcing its delivery services to third-party vendors, reports VCCircle.

Fresh funds

The State Bank of India wants to boost fin-tech in India and has set up a 200 crore fund for start-ups that operate in this space. It has also formed a mentoring team to assist start-ups that will support, monitor and make a report on the progress and the utilisation of the funds by the venture. Read more

Fashion app Voonik raised $20 million $20 million in Series B funding led by Sequoia India. Times Internet, Seedfund, Beenos, Beenext, Parkwood Bespin, Tancom Investments and Freecharge’s Kunal Shah also participated in the round.

The company will utilize the money for scaling up the men’s and premium segments—Mr Voonik launched in April, and Vilara launched earlier this month. Read more

ClearTax, a start-up that helps individuals and businesses file their tax returns online has raised $12 million in a funding round led by SAIF Partners, the firm said on Friday. Read more--

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Published: 17 Jun 2016, 12:00 PM IST
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