OLA cabs: Indian Startup Sucess Story
In Spanish, Hola translates to ‘Hello’ hence the name Ola probably to indicate that their services are as easy and friendly as that, just like saying a ‘hello’. OLA, one of the world’s largest ride-sharing companies. Founded in 2011 by Bhavish Aggarwal and Ankit Bhati, through a mobile technology platform ensuring convenient, transparent, and quick service fulfillment. December 2010, Bhavish Aggarwal was joined by his co-founder Ankit Bhati in his start-up journey. His parents didn’t agree with his idea they were thoroughly displeased with his decision to become a ‘travel agent’. Bhavish believed that anyone can have a good business idea according to him, the best or one of the best & safest model one can or should adopt is running a business with owning “zero” inventory.
Before Ola cabs, Bhavish worked with Microsoft Research for two years, Bhavish started Ola in 2010 with Ankit Bhati, a fellow alumnus from the Indian Institute of Technology in Mumbai with the mission of building mobility for a billion people. Ankit leads product, engineering, and data sciences, ensuring a strong back-end system and in a short span of time, he has played a lead role in pioneering technologies such as mapping innovations, the world’s first connected car platform – Ola Play, and offline bookings that made Ola accessible for a large segment of the population. Ola Play also allows its partners like Microsoft, Apple Music, Sony Liv amongst others, to build a high quality interactive and productive experience for its users. Using the Ola mobile app, users across 110+ cities can connect with over 1,000,000 driver-partners across cabs, auto-rickshaws, and taxis.
Ola cabs a‘Taxi’ revolution for India, from 9,00,000 vehicles serving millions of customers every day along with a million empowered entrepreneurs as driver-partners on the platform. Bhavish Aggarwal and Ankit Bhati the two IITians built a $1 billion company in 3 years. Ola has become India’s largest ride-hailing app with about 60% market share in India.