Ola, whom everyone knows as an urban commuter, has changed the face of travel in India. Founded in December 2010 by two visionary IIT Bombay graduates, this trailblazer in mobility solutions turned the dream of seamless cab rides into a reality. Started under the name ANI Technologies Pvt. Ltd. and initially under OlaCabs, it began the journey of being India’s first cab aggregator leading convenience and innovation. By the swipe of a few taps on your smartphone, you get to the destination stress-free. This is not just a ride-hailing service, it is a movement that has normalised urban mobility of cab rides.
OLA Highlights
| Attribute | Details |
| Startup Name | OLA |
| Headquarters | Bengaluru, Karnataka, India |
| Sector | Transportation |
| Founders | Bhavish Aggarwal, Ankit Bhati |
| Founded | 2010 |
| Valuation | $2 billion |
| Website | olacabs.com |
About OLA
Ola success story has changed the game of cab booking making travel simple, faster and more entertaining. Applying for good payment facilities and Ola play, which are in-ride entertainment every ride is a cakewalk. Going beyond the innovation, Ola is now even available for self-drive cars to let customers have their every possible moment. Whether you require a cab or not, Ola with it’s rich fleet, covers all the bases with respect to traveller count, budget and convenience.
Ola offers a variety of means of transport for urban travel such as shared taxis, autos, bicycles, electric-powered auto rickshaws, etc. Looking to go on vacation? Use the ‘Ola Outstation option for travelling beyond city bound or you can simply go for hourly cab bookings by selecting, ‘Ola rentals’ For those who travel often, the ‘Ola Select’ premium subscription will offer the perks of high class for some luxury.
Taking Urban Mobility to heart Ola rolled out ‘ Ola Pedal ‘, a bicycle-sharing service which has become a hit in IIT Kanpur and IIT Madras with over 500 bicycles available for sustainable commute by the people. ‘Ola corporate’ for businesses streamlines employee travel where you get a prepaid corporate account hence making easy expense management and keeping safe.
Business and Revenue Model of OLA
Ola’s business model is incredibly simple and obviously works so well. Being a cab-booking service facilitator, it directly links customers to drivers in a user-friendly application. Interestingly, Ola doesn’t own any cars. In fact, it works with drivers who have permits and are verified by transport authorities from verified fleet operators/car owners; such drivers may be self-employed or salaried.
Even though customers are happy with the hassle-free car booking process, drivers have their own app (exclusively for them). Registration is subject to a strict vetting process to check that all commercial and private documents are properly filed. Once onboarded, drivers have the freedom to work on their terms—logging in or out of the app at their convenience and accepting ride requests when they’re ready.
Ola success story thrives on a win-win approach. Earnings of the operators come with mobility, and the users will have dependable means of transport. For every booking, Ola charges a reasonable commission, about 15%. By this customer-centered paradigm-changing philosophy, Ola ride is the pioneer of the ride-sharing model.
OLA Founders and Team
Ola, launched in February, 2010 by two dynamic visionaries Bhavish Aggarwal and Ankit Bhati changed the face of urban commuting in India.
The Visionary CEO
An IIT Bombay graduate with a B.Tech in computer science, Bhavish Aggarwal, started his career as a research consultant at Microsoft Research, filed two patents and three research papers. After a brief stint with an online tour company, Bhavish pivoted to create Ola Cabs. Bhavish as the CEO and OLA founder; from a simple aspiring graduate to a $350 million (2019) net worth leader is a tale of impulsion and ingenuity.
The Tech Maestro
Ankit Bhati, Ola’s CTO, is the tech brain behind the seamless experience millions of users enjoy today. With a dual degree in Mechanical Engineering and CAD from IIT Bombay, Ankit honed his skills through freelance projects before dedicating himself to Ola in November 2010.
The Team That Delivered
The first Ola app came alive through the combined brilliance of product manager Usha Loutongbam and developers Ajinkya Potdar and Khushal Bokadey, whose internship work laid the foundation. After some time, technology stars like Atul Manwar, Ankit Kumar & Neeti Birla accelerated the app which expanded Ola’s one-touch booking, remaining both convenient and full-featured for drivers.
Ola founders continues this feat with a current 6,000-strong workforce to date, following the vision of making every Ola journey easy, fast and unforgettable.
OLA Key Features
Experience the future of commuting with Ola! From an autorickshaw to an electric scooter, Ola brings convenience, technology and innovation to change how you go about travelling.
- Ola Cabs: Your Personalized Travel Experience
- Ola Play: Turn every ride as a short road trip with music, TV, or radio.
- Ola Select: Say goodbye to peak pricing, long waits, and hello to exclusive perks!
- Free Wi-Fi: While you sail, connect & get stuff done.
- Safety First: Emergency button, real-time location tracking and so on monitoring to ensure anxiety free travelling.
- Easy Booking: Book your ride from your phone, laptop, or any smart device.
- Ola Electric Scooters: The Future of Sustainable Travel
- Fast Charging: Power up and go in no time.
- Built-in Navigation: Always know the best route.
- Mobile Connectivity: Enjoy every moment with Bluetooth/Wifi.
- Keyless Ignition: Unlock your ride of dreams
- Custom Riding Modes: Efficient for Eco, Fun for Hyper – you the boss.
- Cruise Control: Smooth sailing at a steady pace.
- Advanced Regen: Charge while you ride.
- Anti-Theft Alarm: Peace of mind, wherever you park.
- With Ola, every journey is smarter, safer, and more sustainable.
OLA Competitors
Ola founders faces tough competition in the ride-hailing battlefield. Its biggest rival, Uber itself, one of the world’s most backed Indian startups ever by all means (over $24 billion in equity and debt), gives a $82 billion valuation.
- Uber: The main competitor of Ola, the world’s largest startup with a $82 billion valuation and highest funded startup $24 billion.
- Meru Cabs: Car by Meru Cabs Company Pvt. Ltd., provides taxi service to all parts of India under trusted parameters.
- Carzonrent: Available by Carzonrent (India) Pvt. Ltd. — self-drive car rental services.
- Zoomcar: Operates Zoomcar India Private Ltd for self-drive car rentals around country
- Rapido : New player in bike taxi segment, emerging as another strong competitor for Ola market.
- InDriver: International ride-hailing app, launched in Russia and headquartered in Mountain View (California), is taking off in India with its unique fare negotiation model.
- Market Outlook: The competition in India’s mobility space is tough, Ola needs to keep reinventing and innovating to outrun these dynamic competitors.
OLA Awards and Achievements
Ola has consistently been lauded for its pioneering work in ride-hailing, electric vehicles and related ride-hailing services.
- ICQCC 2024: Ola Electric won five gold awards at the 49th International Convention on Quality Control Circles (ICQCC) in Sri Lanka, recognizing the work of Ola’s all-female teams from rural areas.
- mBillionth Award South Asia 2013: Ola Cabs won this award for commendable mobile innovation prowess
- IAMAI Best Startup of the Year: Ola Cabs got this award for growing so fast and making such an impact.
- HATT Awards: Ola Cabs was rewarded for delivering best in transport and tech space
- Hindustan Times 30 Under 30: Ola’s Bhavish Aggarwal was one of the 30 entrepreneurs named in the list for amazing contributions to the Indian startup ecosystem
Future plans for OLA
When originally set to launch in early 2022, speculation abounded of a possible DRHP filing as it went on in December of the previous year. But fast forward to now, and the buzz is that Ola is eyeing a much-anticipated IPO launch in late 2023.
Ola’s grand plans are in the making, with its powerhouse company, Ola Electric, already making noise in EV making industry meanwhile. Ola, as usual, retains the #1 spot in electric vehicles, but the main focus is on perfecting infrastructure going forward especially its famous cab services. Ola is preparing for an ambitious future both on the road and big-League, by itself soon!
Conclusion
Ola success story has changed the game around urban mobility in India through which people see movement and travel. Starting as a small operation in 2010, Ola has transformed ease-of-access into a verb with its ride-hailing application, demonstrating that simply a few touches on your smartphone can easily turn getting from A to B into a simple blip in your day.
Not a mere service, Ola has been the force behind this movement, setting urban mobility as well as the relationships there, by defying the boundaries. Because of the commitment to reliability and the user-friendly interface of Ola travel has become easier, safer and cheaper for millions. It began as a very niche solution to taxi rides, but ended up being the core element of everyday life and a footprint of eternal cities working and living.
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Frequently Asked Questions
Who are the shareholders of Ola?
Ola’s major key stakeholders are all over the world and include SoftBank Group (Japan), Tiger Global (USA), Tencent (China), Matrix Partners (USA) and DST Global (Russia) who between them have a heterogeneous investment portfolio.
Is Ola a Chinese Company?
Ola, an Indian company, is served by substantial Chinese capital, including Tencent Holdings, Steadview Capital, Sailing Capital, Eternal Yield International Ltd, and the China-Eurasian Economic Co-operation Fund, for a sum of around $500 million.
Where is the headquarter of Ola?
The headquarter of Ola is in Mumbai, India.
Who is the founder of Ola?
In 2010, Ola was founded by Ankit Bhati and Bhavish Aggarwal.
What is the full form of OLA?
The name is an abbreviation and is of a Spanish origin “Hola”, “hello” and so it is a friendly, affectionate greeting.
