Singapore-based Temasek Holdings reportedly bought shares worth at least $30 million from Ola's early and former employees as part of a secondary share sale. Temasek bought the shares at a valuation of between $2.5-3 billion and the share sale was completed around May-end. Employee stock ownership plan (ESOP) was launched by Ola Co-founders Bhavish Aggarwal and Ankit Bhati in 2011.