Ex-CEO of Flipkart, Sachin Bansal is likely to invest in Cab aggregator, Ola. Sachin Bansal, who was also the co-founder of the Filpkart exited the company after leaving his entire 5.5% shareholding to Walmart and made 1 billion dollars from the deal.
Reportedly, Sachin Bansal will invest $100 million in Ola and he is committing 10% of his amount to Ola. Bhavish Agarwal and Ankit Bhati are the founders of Ola. Bansal was known to Agarwal earlier.
Bansal may invest in the company by subscription of new shares and also through the small component of secondary sale by the existing investors. Ola is currently in a rift with major investor Soft Bank of Japan. So, Bansal’s entry in this situation will consolidate the company’s position. In the past year, Ola’s valuation stands between $ 3 billion to $ 4.5 billion.