Livemint: July 27, 2017
New Delhi: Chinese internet conglomerate Tencent is in advanced talks to invest in transport app Ola, said a report in The Economic Times. The company may invest $400 million (approximately Rs2,500 crore), if the deal gets completed successfully, added the report.
The Tencent investment will help Ola raise over $800 million in fresh total funding, which will push Ola’s valuation to over $4 billion, the report added.
The report said Tencent executives were in Bengaluru last week, and they met the Ola management team to discuss the transaction.
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