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Monday, April 15, 2024

Journey of IITian Bhavish Aggarwal who turned billionaire with Ola Cabs

Bhavish Aggarwal co-founded India’s ridesharing giant, Ola Cabs, in 2010. Here is Bhavish’s inspiring story.

Bhavish Aggarwal and Ankit Bhati established Ola Cabs on December 3, 2010. They attended the Indian Institute of Technology (IIT) in Bombay.

Bhavish Aggarwal previously worked for Microsoft Research for two years before launching his own company, Ola Cabs.

He aspired to be a business owner. He was convinced that he should take the risk of attempting new things even if he failed.

Bhavish Aggarwal left Microsoft to launch his tour and travel company, Ola Trips.

He began selling vacation packages and weekend getaways through this tour and travel service. Despite his efforts, Bhavish had little success in the holiday trip offerings. He even conducted the marketing for this firm, but he was unable to sell a single trip package.

His family was disappointed that their well-educated son would work as a ‘travel agent.’ When Bhavish Aggarwal was traveling by cab from Bangalore to Bandipur, a sad experience sparked the concept for the world’s largest ride-sharing network, Ola Cabs.

After going half the distance, the driver unexpectedly came to a halt and demanded a disproportionate amount of what he was paying.

Bhavish objected with him, saying that this was wrong because he had negotiated the fee before to the voyage. He was enraged by the unpleasant encounter. He decided that it is impossible to obtain cab services at reasonable pricing without good contacts.

During the movement, he discovered that his situation was comparable to that of many other customers. He concluded that consumers do not require tour packages, but rather appropriate transportation to reach their objectives.

As a result, the homegrown vehicle aggregation start-up Ola Cabs was established. The procedure of reserving a cab with Ola has been simplified. Both of the co-parents founder’s were upset when the notion of making transportation easier was proposed.

However, when Ola Cabs acquired its first round of angel investors, they saw the difference the two men were making on Indian roadways.

Soon after, Bhavish Aggarwal began to become technical with this startup. He did not acquire any automobiles for Ola Cabs, but instead sought out to others who had cars and collaborated with them. He linked drivers and owners while also incorporating new technologies into the whole structure.

Ankit Bhati, the co-founder, is working on a smartphone app that will connect thousands of travelers from local regions. The app would be a lifeline for those commuters looking to hail a cab to their location. It would provide commuters with the ability to book, a simple payment option, and the vehicle of their choice.

Ola Cabs made headlines when Snapdeal became its first angel investor. Many new investors have invested in Ola Cabs throughout time.

The car-sharing aggregator received significant funding in 2012. The auto-hailing firm was successful in attracting investors and drivers, but they needed to get clients used to the vehicle journey.

The firm concentrated on marketing and launched an effort aimed at university students and young people, offering Rs. 50 for introducing a friend and a free ride for bringing in new consumers. They also provided discounts.

Ola Cabs sought to deliver a comfortable journey while keeping clients amused at low prices. It grew to be a success in the vertical dimension of facilitating transit.

Ola Cabs now provides self-driving vehicles. Its movement mechanism has been accelerated, making it suitable for your journey. You can select any car based on your budget, convenience, and the number of passengers.

Ola Cabs has grown to become India’s largest mobility platform and the world’s largest ride-hailing company, serving 250+ cities across the country. The mobile aggregator service has expanded into new areas, such as finance and cloud kitchens, among others.

Ola Cabs launched its first overseas market in Australia in January 2018 and New Zealand in September 2018.

It also began operations in the United Kingdom in March 2019. It is expected that they will expand their operations to other countries as well. It has invested in, constructed, and simplified a definitive solution for everyday commuters in hailing taxis and sharing trips with simple booking and payment methods.

Bhavish Aggarwal, the creator of Ola Cabs, travels by utilizing Ola Cabs to evaluate the quality management of his transportation business.

Ola Cabs does not own a vehicle. The trucks and cars are owned by their individual owners.

They get compensated for each ride.

As of December 2021, Ola Cabs is worth more than $7.3 billion.

Ola Cabs has gathered to deliver the greatest vehicle riding experience across India and is expanding its operations in other nations with an aim to empower the mobility system. The creators of this vehicle aggregator firm understood that the majority of people would not buy automobiles, even if they could afford them, so it can be easy to access and hire cars for any journey destination, which is why Ola Cabs became famous in India.

In addition, Ola Electric, an electric two-wheeler, has been launched in the lane.


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