Vanguard slashes Ola valuation to $70 mn, down 99% from 2021 peak

US asset manager Vanguard has slashed Ola Consumer's valuation to about $70.3 million, according to its latest filing with the US Securities and Exchange Commission. The markdown represents a nearly 99% decline from the ride-hailing firm's peak valuation of $7.3 billion in 2021. The India-based company is reportedly preparing for its IPO and is in talks with investment banks.