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Amid fierce competition from Uber, India’s largest cab hailing service Ola has shut down TaxiForSure, a rival cab aggregator it had acquired last year for $200 million. The shutdown is expected to affect nearly 1,000 employees.

The move comes days after Uber exited China after selling off its operations to rival Didi Chuxing. As part of the deal, Uber also assumed 20 percent stake in Didi Chuxing. The San Francisco-based company is understandably shifting more attention to regions such as India for further growth. It recently added a new feature that lets people book an Uber without installing the app on their phone.  Read more…

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