Ola Cabs

Ola
Company type	Private
Industry	Transportation; Food Industry
Founded	3 December 2010
Founders	Bhavish Aggarwal; Ankit Bhati;
Headquarters	Bangalore, Karnataka, India
Number of locations	250+ cities
Area served	India
Key people	Bhavish Aggarwal ; (Co-founder & CEO); Ankit Bhati ; (Co-founder & CTO);
Products	Mobile app, website
Services	Vehicle for hire; Financial services; Food delivery;
Revenue	₹2,799 crore (US$340 million) (FY23)
Net income	₹−772 crore (US$−93 million) (FY23)
Number of employees	~3,000 (2020)
Parent	ANI Technologies
Website	www.olacabs.com

Ola Cabs (stylized as OLΛ) is an Indian transportation company that provides ridesharing services and operates other business verticals such as financial services and cloud kitchens. It is headquartered in Bangalore, Karnataka and operates in 250+ Indian cities.

A variety of venture capitalists including Softbank have large stakes in the company.^[4] In January 2018, Ola extended into its first overseas market, Australia, and launched in New Zealand in September 2018.^[5] In March 2019, Ola began its operations in the UK.^[6] In April 2024, the company announced that it is exiting all of its international markets to focus on the Indian market.^[7]

The ride-hailing cab aggregator has announced a substantial shift in its operations, shifting from Google Maps its own in-house mapping tool, Ola Maps, on July 5. This move follows the company's recent withdrawal from Microsoft's Azure platform,attaining significant yearly savings of about Rs 100 crore.^[8]

^ "Ola's losses accumulate to Rs 17,453 Cr as revenue shrinks 63% in FY21". 3 November 2021.
^ ^a ^b Sil, Debarghya (10 January 2024). "Ola Cabs Parent ANI Tech's FY23 Revenue Crosses INR 2,500 Cr Mark, Loss Declines To INR 772 Cr". Inc42 Media. Retrieved 16 January 2024.
^ Bhalla, Tarush (2 November 2021). "Ola posts operating profit in FY21 ahead of likely share sale". mint. Retrieved 15 November 2021.
^ "Would an Ola-Uber Merger in India Get the Competition Commission's Approval?". The Wire. 29 April 2018. Retrieved 19 March 2019.
^ "India's Ola forays into New Zealand in latest overseas push". Reuters. 18 September 2018. Retrieved 18 September 2018.
^ Shrivastava, Aditi. "Next pickup is London for Ola". The Economic Times. Retrieved 1 January 2022.
^ "Ola Cabs to exit international markets this month". The Economic Times. 9 April 2024. ISSN 0013-0389. Retrieved 19 April 2024.
^ "Bhavish Aggarwal introduces Ola Maps as an alternative to Google Maps".{{cite web}}: CS1 maint: url-status (link)

[Revenue-1] "Ola's losses accumulate to Rs 17,453 Cr as revenue shrinks 63% in FY21". 3 November 2021.

[fy23-2] Sil, Debarghya (10 January 2024). "Ola Cabs Parent ANI Tech's FY23 Revenue Crosses INR 2,500 Cr Mark, Loss Declines To INR 772 Cr". Inc42 Media. Retrieved 16 January 2024.

[anitech-3] Bhalla, Tarush (2 November 2021). "Ola posts operating profit in FY21 ahead of likely share sale". mint. Retrieved 15 November 2021.

[wire29apr2018-4] "Would an Ola-Uber Merger in India Get the Competition Commission's Approval?". The Wire. 29 April 2018. Retrieved 19 March 2019.

[5] "India's Ola forays into New Zealand in latest overseas push". Reuters. 18 September 2018. Retrieved 18 September 2018.

[6] Shrivastava, Aditi. "Next pickup is London for Ola". The Economic Times. Retrieved 1 January 2022.

[7] "Ola Cabs to exit international markets this month". The Economic Times. 9 April 2024. ISSN 0013-0389. Retrieved 19 April 2024.

[8] "Bhavish Aggarwal introduces Ola Maps as an alternative to Google Maps".{{cite web}}: CS1 maint: url-status (link)

[1]

[2]

[3]

[4]

[5]

[6]

[7]

[8]