Recently, one of Ola’s investors slashed Ola's valuation to $1.2 billion—a drop of over 80% from its peak in 2021. On the other hand, at least one of the investors of rival Rapido believes that Rapido is worth $1.1 billion.

Even if you ignore the specific valuations, the trend is uncontestable. Ola is falling, Rapido is climbing, and now, their paths cross in a moment of reversal. How did this happen?

Well, there are two theories for it, explains Praveen Gopal Krishnan in this episode of The Nutgraf. Tune in.

At 3:40, we mention that Rapido raised $200 billion from Westbridge Capital in September 2024. It had raised $200 million. The Ken regrets the error.

The Ken articles referenced in the episode:

Krutrim is whatever Ola wants it to be
Here's how the Swiggy, Zomato duopoly might crack 

How Ola and Uber are being disrupted in Bengaluru