Thursday, January 29, 2015

Olacabs is on the brink of closing the deal to buy out rival TaxiForSure for about $200 million (₹1,250 crore), in its bid to take on arch-rival Uber and gain a dominant position in India's taxi aggregation market.

An Uber taxi driver shows an application software in his mobile phone used to track the taxi's location, during a protest against the ban on online taxi services, in New DelhiReuters
The deal is expected to be funded by a combination of cash and stock. Sources directly involved with the negotiations confirm the signing of the term sheet with the finer details of the deal to be finalized over the next 10 days.

The deal is expected to help Ola take on Uber, the $40 billion taxi-app company, while also allowing for lower cost of operations.

Olacabs was started by Bhavish Aggarwal and Ankit Bhati of IIT-Bombay. The company received $210 million in funding from SoftBank of Japan in October 2014.

International taxi aggregators are in talks to take on the might of Uber. The move could see regional players like Singapore's GrabTaxi, India's Ola and San Francisco-based Flywheel come together.


TaxiForSure was started by IIM-Ahmedabad graduates Raghunandan G and Aprameya Radhakrishna about four years ago. The company had spent the last two months looking for funding in order to stay relevant with the bigger players. They raised a bridge round worth $20 million from its existing investors, valuing the company at $125 million. TaxiForSure spoke to Uber, Meru and Carzonrent for a possible sellout, with Ola managing to clinch the deal.
The move marked the growing maturity of Indian entrepreneurial space with smaller players consolidating to take on the larger players, allowing the creation of new start-ups with new business models and better products, Vivek Wadhwa, a fellow at Stanford Law School and a director of research at Duke University told The EconomicTimes.

Radio Taxi Licence

Cab-hailing apps -- TaxiForSure, Uber and Ola -- do not own the cabs, but only provide the technology platform which links the taxi owners and prospective customers, and hence stake a claim to be regarded as technology company.

The rape of a female passenger by a driver with Uber forced the Delhi Transport Authority to ban Uber, and insisted all such companies apply for radio taxi licence.

The Delhi Transport Authority rejected the licence application submitted by Ola, Uber NTL Call Cabs and TaxiForSure finding them 'deficient'. The Authority regulates the taxi market for the capital region and sends out notices pointing to the gaps. A government official said it would take at least 10 days for the taxi companies to re-present the applications.

The report says Ola to have maximum number deficiencies and TaxiForSure to have only one.
The acquisition indicates that companies are willing to go the whole length to survive regulatory scrutiny and supervision. The $10 billion car rental market has a miniscule participation from the organised taxi industry, repoted FirstPost.

Wednesday, January 28, 2015

Movies have shown us that if you want to go on that perfect bachelor trip with your friends before you get hitched, it will have to be a place like Las Vegas, Thailand, or Spain. However, you would be surprised that there is a whole bunch of places in India where you can have some unadulterated bachelor fun without it costing you a bomb. We list down 5 such places capable of proving to be the perfect bachelor party spot for your friends and you.
It’s not for nothing that Goa is known as the party capital of India. The food, the music, and the people from across the globe all willing to make new friends and have a great time is what makes this India’s number one choice for a naughty bachelor trip. From beach shacks where you can just chill with a beer and some sea-food to beaches where there are no strict rules about nudity, Goa has it all making it a great choice for a spicy bachelor party destination.
Om Beach:
The Om beach, despite being extremely famous with all age groups, attracts more bachelors than families. The ambiance of the beach and the famous Namaste lodge appeals more to bachelors as it has the right balance of ‘quiet’ and ‘hip’ making it a great place to celebrate the last few days of your singlehood.
After marriage, chances are that your spouse might not let you do some of the adventurous activities you have on your mind. So, bachelorhood is a great time to experience some crazy adventures with your friends. Solang in Jammu and Kashmir is a great choice for this as it offers several activities from paragliding to skiing. The tiring activities can then be followed by a party with dance and drinks. The weather here also makes it a great place to breathe in your last few moments as a free soul.
There is a pleasure involved in biking that is often understood only by bachelors. If bike trips appeal to you, then you must take a motorbike trip from Manali to Leh. Offering one of the best routes to ride in the world, this magnetic highway stretches over 475 kms and is a paradise for biking enthusiasts. Anybody who has ever taken this trip will vouch that it will be the most memorable ride of your life. Once you are hitched, you might become more of a car person so why not try this out while there is still time?
Roopkund lake:
Treks can be very exciting. A trek to the frozen Roopkund Lake in the Garhwal region of Uttaranchal and perched at 5000m starts from Loharjung that stands at 3200m. Mention this to your spouse and she might come up with several other “romantic” places you can go to instead. However, mention this to your bachelor friends and they will be jumping with joy figuring out the best time to leave. Moreover, at such a high altitude away from your city life, you can get the much-required time for yourself to reflect upon the your past and gear up for your future.
Do let us know any other destinations that come to your mind in our comments section.

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Winter is coming. It is a great time to go out on that perfect vacation with your family. With the kids having their Christmas vacations and it being easy for professionals to get leaves during the Christmas week, a vacation is a great way to end your year. There are several destinations in India that offer their best for travelers during this time. We list 5 such places in India that serve as the perfect winter vacation for you and your family.
Known as the queen of hills, Shimla is nestled at the foothills of the Himalayas. It reaches its beautiful prime during winters with its pleasant weather, snow-clad mountains, deep valleys and pine-deodar forests. The hot teas served in the cold weather are an absolute treat.
If you are looking for a peaceful vacation without any metropolitan hustle-bustle, then Dharamsala is the place for a perfect winter vacation. The cafes at Mcleodganj provide delicious meals and great views of the mountains. A visit to the Dalai Lama’s abode and Norbulingka will also be a lovely experience.
Kashmir is a great winter destination and Gulmarg is one of the premier hill resorts in India. Breath-taking views are provided by snow-clad mountains. Hiking and cable car riding are fun activities to here. Skiing and snowboarding are also available for adventure enthusiasts.

Kerala shows its true splendour after monsoon departs. Whether it is the Kovalam beach, the Alapuzza backwaters or Munnar tea plantations, winter is a great time to witness God’s own country at its best.
Tamil Nadu
Tamil Nadu is the hub of temples most of which have been inscribed as World Heritage Sites by UNESCO. The weather is great for you to visit the Nilgiri mountains, the Chola temples or the Mahabalipuram beach depending upon your inclination and interests. Ooty, the queen of hills in South India, is a famous winter destination in this part of the country.

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