Ola

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Ola
Ola Consumer
Company typePrivate
IndustryTransportation, Fintech, Food delivery
FoundedDecember 3, 2010; 14 years ago (2010-12-03)
Founder
HeadquartersBangalore, Karnataka, India
Area served
India
Key people
  • Bhavish Aggarwal (CEO)
Products
  • Ride-hailing
  • Auto-rickshaw booking
  • Bike taxis
  • Food delivery
  • Financial services
Services
  • Cab booking
  • Outstation travel
  • Car rentals
  • Cloud kitchens
  • Micro-insurance
Revenue₹2,535 crore (US$304 million) (FY23)
Decrease ₹-772 crore (US$-93 million) (FY23)
Number of employees
6,000 (2024)
Subsidiaries
  • Ola Fleet Technologies
  • Ola Financial Services
  • Ola Foods
  • Ola Electric (6% stake)
Websitewww.olacabs.com

Ola Consumer, formerly Ola Cabs, is an Indian ride-hailing company operated by ANI Technologies Private Limited, headquartered in Bangalore, Karnataka. Founded on December 3, 2010, by Bhavish Aggarwal and Ankit Bhati, both alumni of IIT Bombay, Ola started as a cab aggregation platform and has since diversified into auto-rickshaw and bike taxi bookings, food delivery through cloud kitchens, and financial services like micro-insurance and credit payments. Ola operates in over 250 Indian cities with a network of 2.5 million driver-partners and holds a 60% market share in India’s ride-hailing sector as of 2014.[1] It competes primarily with Uber India, Rapido, and Meru Cabs. In August 2024, Ola Cabs rebranded to Ola Consumer to reflect its broader service offerings.[2]

History

Ola’s origins trace back to Bhavish Aggarwal’s frustrating experience with a taxi driver in 2009, prompting him to launch Olatrip.com, a trip-planning service, in 2010. Recognizing the demand for on-demand cabs, Aggarwal and Bhati pivoted to found Ola Cabs in January 2011, starting with phone-based bookings.[3] The company launched its mobile app in June 2012, enabling real-time cab bookings.[4] By 2015, Ola held the largest market share, surpassing TaxiForSure, Meru Cabs, and Uber India.[5]

Ola expanded through acquisitions, including TaxiForSure in 2015 for ₹1,237 crore (US$200 million) and Foodpanda India in 2017 for food delivery.[6][7] It ventured internationally, launching in Australia (2018), New Zealand (2018), and the United Kingdom (2019), but exited these markets in April 2024 to focus on India.[8] In 2020, Ola laid off 5,000 employees due to a 95% revenue drop during the COVID-19 pandemic.[9]

Business Model

Ola operates a technology platform connecting customers with drivers for ride-hailing, auto-rickshaw, and bike taxi services. Its app, available on Android, iOS, and Windows, supports bookings for city taxis, outstation travel, and hourly rentals.[10] Ola offers services like Ola Play (in-cab entertainment), Ola Select (subscription-based premium rides), and Ola Corporate for business travel.[11] It also runs Ola Foods, operating over 50 cloud kitchens, and Ola Financial Services for micro-insurance and credit-led payments.[12]

Funding

Ola has raised over US$3.8 billion across 15 funding rounds.[13] Below is a table of its major funding rounds:

Year Date Amount (US$) Investors Valuation (US$)
2012 April 5 million Tiger Global Management -
2013 November 20 million Sequoia Capital -
2014 October 210 million SoftBank Group 1 billion
2015 April 400 million DST Global, GIC 2.5 billion
2015 November 500 million Baillie Gifford, Falcon Edge Capital 5 billion
2017 October 1.1 billion Tencent, SoftBank Group 7 billion
2019 January 56 million Tiger Global, Matrix India (Ola Electric) -
2019 April 300 million Hyundai Motor Company, Kia Corporation 6.5 billion
2021 July 500 million Temasek Holdings, Warburg Pincus 7.3 billion

Legal Entity Details

Ola operates under ANI Technologies Private Limited, a private limited company incorporated in India. Below is a table summarizing key legal entity details:[14][15]

Attribute Details
Company Name ANI Technologies Private Limited
Incorporation Date December 3, 2010
Registered Location Bangalore, Karnataka, India
Corporate Identification Number (CIN) U72900KA2010PTC056026
GST Number 29AAHCA4636B1Z8
Authorized Share Capital ₹1.5 crore
Paid-up Capital ₹1.2 crore
Number of Employees 6,000 (as of 2024)
Registered Address 4th Floor, Torrey Pines, Embassy Golf Links Business Park, Challaghatta, Bengaluru, Karnataka, India – 560071
Directors Bhavish Aggarwal, Ankit Bhati
Subsidiaries Ola Fleet Technologies, Ola Financial Services, Ola Foods

Acquisitions and Investments

Ola has pursued strategic acquisitions and investments:

  • TaxiForSure (2015) – Acquired for ₹1,237 crore (US$200 million) to expand ride-hailing.[16]
  • Geotagg (2015) – Trip-planning app acquired for an undisclosed sum.
  • Foodpanda India (2017) – Acquired to enter food delivery.[17]
  • Ridlr (2018) – Public transport ticketing app acquired to enhance mobility services.[18]
  • Vogo (2018) – Invested US$100 million in the scooter rental startup.[19]

Market Position and Competitors

Ola Consumer holds a 60% market share in India’s ride-hailing market (2014 data), competing with Uber India, Rapido, and Meru Cabs.[20] Its diversified offerings, including Ola Electric’s 6% stake and Ola Foods’ cloud kitchens, strengthen its position.[21]

Challenges

Ola has faced criticism for technology glitches, including a 2016 privacy breach exposing customer data and a 2020 glitch sending false booking notifications.[22][23] Drivers have raised concerns about low earnings, and a 2024 advertisement was pulled after backlash for perceived sexism.[24] Regulatory scrutiny over surge pricing and driver credibility has also posed challenges.

References

  1. ↑ "Ola Success Story - Funding, Founders, Team, Revenue and More". StartupTalky. StartupTalky. 14 February 2025. Retrieved 18 April 2025.
  2. ↑ "Ola Cabs Rebranded To Ola Consumer; Ride-Sharing Service Ola Share Relaunched". Inc42. Inc42 Media. 15 August 2024. Retrieved 18 April 2025.
  3. ↑ "The OlaCabs Story". LetsIntern. LetsIntern. 2 December 2014. Retrieved 18 April 2025.
  4. ↑ "Olacabs Offers Real-Time Cab Booking On Mobile; Single Click; Our Take". MediaNama. MediaNama. 13 June 2012. Retrieved 18 April 2025.
  5. ↑ "How Ola and Uber are making other taxi companies irrelevant in India". Business Today. India Today Group. 12 August 2015. Retrieved 18 April 2025.
  6. ↑ "Ola buys TaxiForSure for Rs 1,237 crore in a cash-and-stock deal". The Economic Times. Bennett, Coleman & Co. Ltd. 3 March 2015. Retrieved 18 April 2025.
  7. ↑ "Uber rival Ola buys Foodpanda India to get into food deliveries". TechCrunch. AOL Inc. 18 December 2017. Retrieved 18 April 2025.
  8. ↑ "Ola Cabs to exit international markets this month". The Economic Times. Bennett, Coleman & Co. Ltd. 9 April 2024. Retrieved 18 April 2025.
  9. ↑ "Ola Cabs lays off 5,000 employees amid COVID-19 revenue slump". Livemint. HT Media. 20 May 2020. Retrieved 18 April 2025.
  10. ↑ "Book Cabs Nearby at Best Price". OlaCabs. ANI Technologies Pvt. Ltd. 21 August 2024. Retrieved 18 April 2025.
  11. ↑ "Ola Success Story - Funding, Founders, Team, Revenue and More". StartupTalky. StartupTalky. 14 February 2025. Retrieved 18 April 2025.
  12. ↑ "Ola Cabs Parent ANI Tech's FY23 Revenue Crosses INR 2,500 Cr Mark, Loss Declines To INR 772 Cr". Inc42. Inc42 Media. 10 January 2024. Retrieved 18 April 2025.
  13. ↑ "Ola - 2025 Company Profile, Funding & Competitors". Tracxn. Tracxn Technologies Limited. 15 March 2025. Retrieved 18 April 2025.
  14. ↑ "Ola - 2025 Company Profile, Funding & Competitors". Tracxn. Tracxn Technologies Limited. 15 March 2025. Retrieved 18 April 2025.
  15. ↑ "Ola Cabs Parent ANI Tech's FY23 Revenue Crosses INR 2,500 Cr Mark, Loss Declines To INR 772 Cr". Inc42. Inc42 Media. 10 January 2024. Retrieved 18 April 2025.
  16. ↑ "Ola buys TaxiForSure for Rs 1,237 crore in a cash-and-stock deal". The Economic Times. Bennett, Coleman & Co. Ltd. 3 March 2015. Retrieved 18 April 2025.
  17. ↑ "Uber rival Ola buys Foodpanda India to get into food deliveries". TechCrunch. AOL Inc. 18 December 2017. Retrieved 18 April 2025.
  18. ↑ "Ola Acquires Mumbai-based Public Transport Ticketing App Ridlr". IndianWeb2. IndianWeb2. 3 April 2018. Retrieved 18 April 2025.
  19. ↑ "Ola, Uber's India rival, invests $100M in scooter rental startup Vogo". TechCrunch. AOL Inc. 18 December 2018. Retrieved 18 April 2025.
  20. ↑ "Ola Success Story - Funding, Founders, Team, Revenue and More". StartupTalky. StartupTalky. 14 February 2025. Retrieved 18 April 2025.
  21. ↑ "Ola Cabs Parent ANI Tech's FY23 Revenue Crosses INR 2,500 Cr Mark, Loss Declines To INR 772 Cr". Inc42. Inc42 Media. 10 January 2024. Retrieved 18 April 2025.
  22. ↑ "Ola leaked its customers data, claims user; company blames manual error". The Indian Express. Indian Express Group. 1 September 2015. Retrieved 18 April 2025.
  23. ↑ "Technical Glitch: Ola App Sends False Booking Notifications To Users". Entrepreneur. Entrepreneur Media. 20 January 2021. Retrieved 18 April 2025.
  24. ↑ "Ola Cabs' new 'sexist' ad pulled down after public outrage". The Times of India. Bennett, Coleman & Co. Ltd. 8 May 2024. Retrieved 18 April 2025.

External Links

  • Official website
  • Ola on Twitter
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