Startup Story of Ola Cabs

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Startup Story of Ola Cabs

Startup Story of Ola cabs – The word that has changed the scenario of transport services in India. The way we see the cab services is not the same since Ola came into our lives. In fact, Ola is the most valued start up in the world from India.

Startup Story of Ola Cabs

Ola was formerly called Ola cabs that was started in December 2010. It is a startup started by two IIT Bombay graduates. Bhavish Agarwal and Ankit Bhati are the two startup owners of Ola. Like every startup starts with an idea, this one also started with an idea. 

Bhavish was once travelling from Bandipur to Bangalore but he was stranded because he could find cabs or any taxi for himself.

Startup Story of Ola Cabs

Startup Story of Ola Cabs
Startup Story of Ola Cabs

Bhavish was in a cab and he was on his journey when his can driver stopped in the way and asked for more money than what was originally decided for. On not giving, he abandoned Bhavish on the side of the road and denied taking him further.

Through this incident, Bhavish found out how badly the country needs a good and efficient service and also the potential for the same is great in the country. He originally had a business plan of holiday and tour planning company that he changed to taxi service in 2010. 

Ola Cabs do not provide their own cars in every city of the country. They act as the aggregators or the commuters between the car owners and the travellers. Anyone who has an extra car, they could partner with Ola, and be an Ola cab that transports people.

Ola basically partners with cab drivers and car owners. Ola serves around 2 lakh rides in a day which roughly translates to 6 million riders per month. There are various campaigns that Ola started and the time it was launched, they began with the metro and the major cities of the country.

Their initial offer to get popular was offering rides from anywhere of the city to any point just in Rs 149. This made Ola quite popular. In their initial stages, they also came up with various offers, huge discounts, cash backs, and lots more. 

They started with the phone call service where one could book the cabs after calling the Ola customer care. Then the major shift came with booking from the app. To create a breakthrough app, they shifted their base from Mumbai to Bangalore. Through Ola, one can book inter city as well as intra city cabs.

Startup Story of Ola Cabs

Startup Story of Ola Cabs
Startup Story of Ola Cabs

When Ola launched, there wasn’t any competition, but of course like any other leading business, it started facing competitions from brands like Uber and Taxi for sure. But, Ola acquires Taxi for sure and extended their genre as Ola auto. But, still it is battling with Uber to be the biggest gamer in the market. 

Ola offers 11 services in over 106 cities in the country. It has also launched in Australia and London. The international venture capital funds like SoftBank, Tencent, Microsoft and eBay backs Ola. 

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