Ola and Uber Merger "Total Garbage", said Bhavish Aggarwal

Ola Chief Executive Bhavish Aggarwal has arranged a meeting with top Uber executives in San Francisco, according to the most current news report from ET.

According to the Economic Times, which cited informed sources, Ola and Uber Technologies are anticipating a future merger. Ola Chief Executive Bhavish Aggarwal has arranged a meeting with top Uber executives in San Francisco, according to the most current news report from ET. Regarding a potential deal, no financial information was included in the story. It might be argued that the possible merger would be focused on the cab aggregators' Indian operations, where both businesses would be considering sharing their fleet. Aggarwal, though, denied the reports on Twitter and described them as "total garbage."

Aggarwal, in his tweet, wrote, "Absolute rubbish. We're very profitable and growing well. If some other companies want to exit their business from India they are welcome to! We will never merge."

Due to continued financing challenges, Ola reportedly reduced operations earlier this month and let approximately 500 staff go on a performance basis across multiple departments. Ola has postponed its IPO ambitions to continue growing internationally. The company also recently closed Ola Cars, a vehicle division that had been operating for about a year but had not generated any money or business. The company in a statement said, "Ola has reassessed its priorities and decided to shut down Ola Dash - its quick commerce business. Ola will also be reorienting its Ola Cars business to focus more on strengthening the go-to-market strategy for Ola Electric."

A government investigation regarding battery fires is being conducted into Ola's highly publicized electric two-wheeler firm. EV fires could also have an impact on Ola's goal of selling 1 crore scooters annually. With 1,100 people, Ola's ride-hailing company currently competes head-on with Uber. Food Panda, Ola Foods, Ola Cafe, and Ola Dash have previously been discontinued by the corporation.