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The Economic Times

Technology

Vanguard marks Ola valuation down to $70 million, 99% lower from peak

Ola Vanguard the US Securities and Exchange Commission United States Ola Electric Moody

Funds managed by US investment giant Vanguard have slashed the fair value of ride-hailing platform Ola’s parent, ANI Technologies, to $70 million as of February 28, according to regulatory filings with the US Securities and Exchange Commission (SEC). This is 99% below the Bengaluru-based company’s peak valuation of $7.3 billion.

Vanguard’s latest markdown comes close on the heels of Ola’s continued loss of market share in the ride-hailing segment, where it has been ceding ground to WestBridge Capital-backed urban mobility startup Rapido.

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