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

Ola is shutting down its operations in the UK, Australia and New Zealand, six years after expanding to international markets as it shifts focus to shoring up its domestic business ahead of an initial public offering.

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

“With this clear focus, we’ve reassessed our priorities and have decided to shut down our overseas ride-hailing business in its current form in the UK, Australia and New Zealand,” the spokesperson added.

This is a developing story. More to follow.