Business Current Affairs - 2019

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Olacabs acquires TaxiForSure

Online cab aggregator Olacabs has acquired TaxiForSure for $200 million cash and equity deal.

After the acquisition both entities are going to operate as a separate entity. But as per acquisition deal the leadership and all 1700 employees of TaxiForSure will continue with the company. While, Arvind Singal has been appointed as CEO of TaxiForSure and its founders Aparmeya Radhakrishna and G. Raghunandan for certain period will contribute as advisory role.

At present Olacabs as cab aggregator is market leader in the personnel taxi hiring segment with 1 lakh registered vehicles platforms. While, TaxiForSure has 15000 registered vehicles in same platform and is present in 47 cities across India.

About Olacabs

  • Olacabs was founded in 2010 by two IIT Bombay graduates, Bhavish Aggarwal (CEO) and Ankit Bhati.
  • Its headquarter is located in Bengaluru, Karnataka.

Month: Categories: Business, Economy & Banking

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Six Indian women among Forbes’ 50 ‘Power Businesswomen’ 2015

Six Indian women entrepreneurs and businesswomen have been named by Forbes magazine as among the 50 ‘Power Businesswomen’ from Asia.

Indians included in the list are

  • Arundhati Bhattacharya- Chairperson of State Bank of India (SBI).  Forbes list referred her as the first lady of Indian banking and as chair of the Indian behemoth with 225 million customers.
  • Chanda Kochchar- MD & CEO of ICICI Bank. Forbes list referred her as India’s second-most-powerful banker after Bhattacharya
  • Akhila Srinivasan-  MD of Shriram Capital.
  • Kiran Mazumdar Shaw- Chairman & MD of Biocon.
  • Shikha Sharma- CEO of Axis Bank.
  • Usha Sangwan- MD of Life Insurance Corporation of India (LIC).

About Forbes 50 Power Businesswomen list

The Asia’s 50 Power Businesswomen list showcases accomplishments of the region’s female entrepreneurs and executives for particular year.

The list includes women CEOs and founders, who are active in the upper echelons of the business world in Asia. These women wield significant business power and have access to robust financial resources.

Month: Categories: Business, Economy & Banking

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