False promises, allegations of fraud and over Rs 1,000 crore in cumulative losses bring Ola’s car leasing business to a grinding halt.
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With his back to the wall, the founder is exploring options that could benefit him much more than others. Even at the expense of the customers, investors, vendors and employees.
The decade-old company is reportedly planning to venture into food delivery and fintech. Its no-commission model might just come in handy for its expansion plans.
In the face of a severe liquidity crunch and CXO exits, the electric ride-hailing company is exploring the option of trading its brand equity for survival.