Last month SoftBank led a $750-million cash infusion in Grabtaxi , Uber’s competitor in Southeast Asia. Ola was valued at about $5 billion when it closed $500 million in funding in November last year. The question will now be if Uber and Ola can continue to sustain their high burn rates. While Uber has ramped up spending in India, Ola has been able to retain its market leadership in India so far. Besides lower-cost alternatives like Ola Mini, the firm has also launched luxury car rentals and subscription services to attract premium customers.

Source: Economic Times October 23, 2016 20:11 UTC