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“We’re very profitable…”: Ola co-founder Bhavish Aggarwal refutes reports of merger with Uber

By Ruchi Upadhyay 
Updated Date

New Delhi: Ola co-founder Bhavish Aggarwal has rubbished reports of Indian cab aggregator Ola and Uber Technologies Inc merging. An English newspaper had published a report about the merger of Ola and Uber, which has been denied by Agarwal. It was told in this report that talks are going on between the two companies regarding the merger and even before these speculations got stronger, the co-founder of Ola dismissed this report and termed it as rubbish.

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Ola CEO refutes report
Bhavish Aggarwal, retweeting the report, wrote, ‘Absolutely rubbish, we are very profitable and doing well. If some companies want to remove their business from India then they are welcome! We will never merge. Not only Ola but also the speculations of the merger were dismissed by Uber. It was also told that no such meeting has taken place with the officials of Ola nor has the company made any merger plan.

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Earlier, the Economic Times report quoted sources as saying that Indian cab aggregator Ola and Uber Technologies are considering a merger. The report said that Ola CEO Bhavish Aggarwal has met top executives of Uber in the US. Uber said in a statement that this report is completely false, we are not in talks to merge with Ola.

The company said this in the statement
Ola also said in its clarification that it is one of the most profitable ride hailing companies in the world with a strong balance sheet. The company said, ‘We are the market leader in India and are much bigger than other players. So any kind of merger is completely out of the equation. We believe that India has a lot of opportunities to unlock when it comes to mobility services.

Both Ola and Uber are facing challenges at the present time. This was the reason why Ola had closed its grocery business and similarly Uber Eats service was sold by Uber to Zomato. There is a strong competition between both the companies and due to this many offers were also given to the customers. Due to these also Ola and Uber are facing business difficulties to some extent.

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