The Ola company, which is for calling taxis and comes under the ANI Technologies group as a main company, has seen its value go down many times now. This is the third time that Vanguard, which manages money in America, has cut down how much they think it’s worth. Now they say Ola is valued at $1.9 billion; this new number shows a big drop of 74% from an earlier valuation of $7.3 billion before they decided to change it. Securing $139 million in a funding round in December 2021 from known investors like IIFL and Edelweiss PE was significant, but this money seems not enough to stop its continuing decrease in value a worrying trend.
Vanguard, in May of the previous year, started a trend to lower valuations. They first gave Ola a value at $4.8 billion; however, after more changes by August 2023 this amount went down again to $3.5 billion: at this point we need to realize that even though they had only a small share of 0.7% with precisely 166,185 shares in ANI Technologies Vanguard played an important role in how these valuation figures changed.
It is interesting to see that in FY23, Ola worked harder to reduce its net loss; they achieved ₹772 crore which is less than the large amount of ₹1,522 crore from last year (FY22). But this highlights how some outcomes cannot be avoided – despite all their hard work, Ola was not able to stop a decline that had to happen. However, there is a positive aspect: The total income rises significantly to ₹2,799 crore, showing an annual growth of almost 42%.
Ola and many investors have adjusted the valuations of startups under circumstances that are not so unusual. For example, Invesco has raised Swiggy’s worth to $8.3 billion, which is their second time increasing it. Meanwhile, Fidelity lowered Meesho’s value from $5 billion to $4.1 billion. Pine Labs too saw their value go down a lot, as it dropped from $4.7 billion in August 2023 to only $3 billion by the end of October that year.
Inside the company, AMC evaluates both big and small surroundings; it changes to show how the startup world is always shifting. These evaluations are affected by many things – this doesn’t mean there will always be an increase or decrease in the total value of these startups. The startup environment constantly adjusts its hopes while it moves through changing market situations, and this is exactly what these changes mean.
