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Why Ola founder Bhavish Aggarwal turned down a US Dollar 1.1 billion SoftBank deal

Why Ola founder Bhavish Aggarwal turned down a US Dollar 1.1 billion SoftBank deal

  • Startups, when they raise venture money to build their businesses, begin with a Series A round and then proceed through Series E, F or maybe G before going public.
  • The Japanese conglomerate, led by Masayoshi Son, was an early backer of Ola, but Aggarwal has grown concerned about its influence as SoftBank took a stake in his archrival, Uber Technologies Inc., and then encouraged the rivals to merge.
  • Aggarwal avoids gatherings with Son and his portfolio companies when he visits India, according to people familiar with the matter.
  • Saudi Arabia contributed nearly half of the capital for Son's $100 billion Vision Fund.


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