Ola shuts TaxiForSure

After 18 months of acquisition, taxi aggregator Ola has shut down TaxiForSure. Sources claim further that a staff of 700 people will be given pink slips. A web-based taxi business, TaxiForSure was acquired by Ola for USD 200 million in an effort to carve out a larger share of the market and better position itself against the competition. Described as an economy brand for customers, Ola is known to have said that it has seamlessly integrated TaxiForSure onto the Ola platform with the launch and rapid adoption of Ola Micro. TaxiForSure driver partners and customers would thus get on board the Ola app. according to Ola sources. Refusing to disclose the number of employees laid off post the transition, Ola sources have claimed that those laid off have been offered enhanced severance benefits and outplacement services to help affected employees pursue new career opportunities. Said to entangle in an intense battle with Uber to seek a distinct leadership position in India, Ola has been increasingly concentrating on economy segments with its Micro and Share brands. Uber is expected to intensify its focus on India as it has sold off its China operations to Didi Chuxing. Didi, ironically, is a minority investor in Ola.