MapmyIndia made this big allegation on Ola Electric, sent a notice to the company, know what was the reply
CE Info Systems, a digital navigation company and owner of the MapMyIndia brand, has sent a legal notice to Ola Electric. According to sources, the notice alleges that Ola Electric copied its data to create Ola Maps and ‘reverse’ engineered its app. According to language news, it is noteworthy that the initial public offering (IPO) of Ola Electric is coming soon. A source said on condition of anonymity that the notice has been sent after talks with Ola failed.
Sent legal notice to Ola
According to the news, the source said that at present, a legal notice has been sent to Ola. This has been sent after the discussion failed. When contacted, an Ola Electric spokesperson said, “Ola Electric wishes to respond to the recent claims and media reports made by CE Info Systems Limited (CE Info) regarding alleged issues with Ola Maps and MapMyIndia. He said that we would like to clearly state that these allegations are false, malicious and misleading. We will give a suitable reply to the notice soon.
Breached the agreement
Ola Electric is in the process of launching its Rs 6,100 crore IPO. CE Info Systems has reportedly said in the legal notice that Ola Electric has violated the agreement it signed with the digital navigation firm in June, 2021. The owner of MapMyIndia alleged that Ola copied data from the company’s maps for unfair commercial gains.
Ola Electric’s IPO activities have intensified. The company has announced a price band of Rs 72-76 per share for the public offering. The IPO will open for bidding on August 2. Anchor investor bidding will take place on August 1 and this IPO will close on August 6. The total market capitalization of Ola Electric is estimated to be around Rs 33,500 crore.
