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India ride-hailer Ola mulls branching into more digital services

Sources say startup considering software sales, cloud computing

Ola is likely to offer other two-wheeler manufacturers the in-house software it uses to sell electric scooters directly to consumers, according to sources.   © Getty Images

BENGALURU -- High-profile Indian startup Ola is firming up plans to diversify beyond ride-hailing and making electric scooters, with executives considering branching into digital services such as software sales and even cloud computing, two sources with knowledge of the matter told Nikkei Asia. 

The potential shift in focus comes as the company, backed by Japan's SoftBank, pushes to boost revenues that have faltered in the face of soaring inflation and fears of recession around the world. Ola, which did not respond to a request for comment, has also said previously that it would like to revive a $1 billion public share sale by its ride-hailing business that was shelved last June amid tough market conditions. 

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