Ola, based in Bangalore, India, is India’s sole firm that competes directly with Uber. Ola Cabs was
launched in 2010 by Bhavish Aggarwal and Ankit Bhati.
Ola has grown to become one of the world’s largest ride-hailing businesses. The Ola app links hundreds
of thousands of consumers and over 1.5 million driver-partners to drivers and various vehicles such as
motorbikes, auto-rickshaws, metered taxis, and cabs.
Ola was established by Ankit Bhati and Bhavish Aggarwal. In 2010, Ola commenced operations in
Bhavish obtained his B.Tech in Computer Science from IIT Bombay in 2008. He spent two years in
Bangalore while working at Microsoft Research.
Ankit Bhati, the project’s co-founder, joined Bhavish in November 2010. As Chief Technology Officer, he
is in charge of the company’s technological components. He earned a B.Tech in Mechanical Engineering
and an M.Tech from IIT Bombay. They become India’s Youngest Billionaire at a young age.
As an Indian transportation network company, Ola’s business strategy is centered on taxi service, ride
hailing, and peer-to-peer ride-sharing. After a terrible automobile rental experience, two IIT Bombay
graduates, Bhavish Aggarwal and Ankit Bhati, launched it. Ola Cabs is an on-demand taxi service that
attempts to deliver reliable transportation. It’s a two-way system that caters to both drivers and
Ola has raised $5 billion in total funding across 29 rounds. The secondary market and debt finance are
also mentioned. On December 8, 2021, OLA secured $139 million from Edelweiss and other investors in
one of its most recent financing round.
Ola, has announced his intention to reform the outmoded mobility system that serves just a privileged
few. He also claimed that the “New Mobility” of the future might be realized by integrating three pillars:
New Mobility Services, New Energy Vehicles, and New Auto Retail.
Ola has witnessed tremendous growth in the taxi business. Ola will surely not look back as it improves in
every way. Ola’s income has nearly tenfold increased in the previous four years. It is presently the
country’s largest taxi company.
Ola has effectively earned public support and generated market buzz for its brand. Furthermore, as
technology advances, Ola’s user base will expand as a result of a better customer experience.