OLA CABS: START UP BY 2 IIT BOMBAY GRADUATES
Abstract
Author(s): Neha Jagtiani
The research paper on Ola gives a breif about the start up of 2 IIT Bombay Graduates. From an idea of providing cab services to a common man to hailing market which is valued at more than $10Billion. ANI Technologies Pvt. Ltd., operating under the trade name Ola, is an Indian origin online transportation network company. It was founded as an online cab aggregator in Mumbai, but is now based in Bangalore. As of September 2015, Ola was valued at $5 billion. Ola Cabs was founded on 3 December 2010 by Bhavish Aggarwal, currently CEO, and Ankit Bhati. As of 2017, the company has expanded to a network of more than 600,000 vehicles across 110 cities. In November 2014, Ola diversified to incorporate autorickshaws on a trial basis in Bangalore. After the trial phase, Ola Auto expanded to other cities like Delhi, Pune, Chennai, Hyderabad and Kolkata starting in December 2014. In December 2015, Ola expanded its auto services in Mysore, Chandigarh, Indore, Ahmedabad, Jaipur, Guwahati and Visakhapatnam. In January 2018, Ola extended its reach into its first overseas market, namely Australia, and has plans to eventually run the service in Sydney and Melbourne - having already arrived in Perth in late February.
