India’s Ola retreats from international markets, exiting UK, Australia and NZ

Ola is closing its operations in the UK, Australia and New Zealand, six years after expanding into international markets, as it focuses on strengthening its domestic business ahead of an IPO.

An Ola spokesperson told TechCrunch that the SoftBank-backed ride-hailing startup sees “a huge opportunity to expand in India,” where it has expanded to hundreds of cities and offers a range of ride options. transport, including two-wheelers.

“With this clear direction, we have reassessed our priorities and decided to close our overseas rideshare business in its current form in the UK, Australia and New Zealand,” the spokesperson added.

This is a developing story. Check back for updates.