Already a subscriber?The Indian ridesharing company Ola is pulling out of Australia, telling riders and drivers in Perth and Sydney that it will stop operating on Friday.in Australia cements Uber’s dominance, with traditional cabs and China’s DiDi its only remaining competitors in the taxi market.Ryan Stuart
But documents lodged with the Australian Securities and Investments Commission show Ola recently moved its legal Australian address to a consultancy firm’s offices. Filings reported by Reuters show that Ola’s investor Vanguard valued the unprofitable start-up at $US1.88 billion in February, sharply down from its 2021 capital raise when it was worth $US7.3 billion.
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