India: US Vanguard Group marks down Ola valuation by 40%

Bhavish Aggarwal, CEO and co-founder of Ola, an app-based cab service provider, poses in front of an Ola cab in Mumbai March 3, 2015. REUTERS/Shailesh Andrade/File Photo

US-based investment firm Vanguard Group has slashed the valuation of its stake in India’s largest cab-hailing service Ola—the latest indicator of imminent down rounds at many of India’s unicorn start-ups.

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