Success Story Behind Bhavish Agarwal's Ola Cabs

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Success Story Behind Bhavish Agarwal's Ola Cabs
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POST HIGHLIGHT... We don't need to introduce Ola.
Ola, the first Indian cab aggregator business,
has made using cab services simple. Ola, formerly
known as OlaCabs and now owned by ANI
Technologies Pvt. Ltd., was established in
December 2010 by two IIT Bombay graduates. The
Ola founders think that transportation should be
included right away. The two IIT Bombay students
are aggressively growing the operations of their
online cab aggregation business, which was
founded in 2010 to address the nation's
transportation woes. Being a pioneer among
Indian taxi firms, Ola successfully bridges the
gap between cab drivers and commuters. Co-founder
of Ola Cabs and Ola Electric and an entrepreneur
from India named Bhavish Aggarwal. Aggarwal was
listed among Time magazine's 2018 list of the 100
Most Influential People. Aggarwal was included
in Time magazines 100 Most Influential People of
2018. In this blog post, we will explore
the Success Story Behind Bhavish Agarwal's Ola
Cabs.
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CONTINUE READING.. While the majority of us dream
of owning posh vehicles with cool drivers, meet
this Indian entrepreneur who enchanted the lives
of millions by curating the best online "Book A
Ride" service. The mastermind behind one such
'e-commerce' venture gave people relief from
traveling by chaotic rickshaws or buses. Bhavish
Agarwal is an Indian entrepreneur and
a co-founder of "Ola Cabs" who hails from Punjab,
Ludhiana, and was born on 28th August 1985. He
then graduated from IIT Bombay in 2008 with a
bachelors degree in Computer Science and
Engineering. He lives in Bangalore now. Apart
from working non-stop, he enjoys cycling, playing
squash, and owns a photography blog, which shows
how much he admires photography. His favorite
book includes "Biography of Steve Jobs". Since
Bhavish Agarwal is a savvy tech, he started his
own blog as a blogger at Desitech. From 2008 till
2009. Desitech, In loyally hosts content related
to tech geek things and is all about Indian
start-ups, events, etc. While he was already
laddering up the success shield, he kick-started
his career with a bang enduring a position with a
highly reparative company "Microsoft Research" as
a research intern and got restored at a later
stage as assistant research for 2 years from 2008
till 2010. At the same time, he got 3 papers
published in internal journals by filing 2
patents. Bhavish then soon ditched his job to
build an empire of online rental cab service
known as "OLA CABS" in 2010 which was a
re-branding of his previous venture.
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During the start-up Bhavish experienced a rough
phase, he once addressed customer calls and drove
a customer to the airport.  Success Story Behind
Bhavish Agarwal's Ola Cabs Ola needs no
introduction. The first Indian cab aggregator
company, Ola has made availing of cab services a
smooth experience. Owned by ANI Technologies Pvt.
Ltd. and formerly known as OlaCabs, Ola was
launched in December 2010 by two IIT Bombay
graduates. Being a pioneer among cab companies in
India, Ola bridges the gap between cab owners and
commuters, and it has done so really well!
Bhavish Aggarwal is an Indian entrepreneur and
co-founder of Ola Cabs and Ola Electric. Aggarwal
was included in Time magazines 100 Most
Influential People of 2018. Story of Ola founder
Bhavish Aggarwal Bhavish Aggarwal, the founder of
Ola, completed a B.Tech. in computer science from
IIT Bombay in 2008. Bhavish, the owner of Ola
Cabs, spent his first two years out of college in
Bangalore working for Microsoft Research. During
his time at Microsoft, he submitted two patent
applications and published three research
articles in international journals. He founded an
internet business to market short-term vacations
and excursions while pursuing his entrepreneurial
passion, which he later transformed into Ola
Cabs. Both the co-founder and CEO of Ola are
named Bhavish Aggarwal. Bhavish Aggarwal, the
owner of OLA, was born on August 28, 1985, and as
of 2019 data, his personal net worth was
projected to be around 350 Million.
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Bhavish's wealth continued to rise, reaching Rs
7500 crore (958.43 million) in September
2021. This earned him a spot on the list of
India's 40 wealthiest people, which also includes
Sachin and Binny Bansal, Neha Narkhede, Nakul
Aggarwal, and Ritesh Arora and is headed by
Divyank Turakhia, who has a net worth of Rs
12,500. Bhavish Aggarwal, the CEO of Ola, is
reportedly planning to focus more on the
company's new and future ventures while stepping
away from day-to-day management of Ola's primary
business. According to an internal organizational
letter, Arun GR, who joined Ola in 2021 from
Vedanta Resources and previously served as the
Chief Financial Officer (CFO) of Ola Electric and
Ola Financial Services, will be in charge of the
company's day-to-day operations. According to
Bhavish, he will continue to lead Ola's team
development, product creation, engineering tasks,
two-wheeler and automobile projects, rapid
commerce verticals, international expansion, and
other initiatives. Bhavish Aggarwal's net
worth As of 2022, Aggarwal's net worth was 11700
crore. Ola, his business, is worth 6.5 billion.
One of India's youngest billionaires, he is
young. He enjoys a lavish lifestyle with all the
accouterments that come with excessive riches. He
drives a Rolls Royce Phantom, a Bugatti Veyron, a
Mercedes S600, and several more high-end
automobiles. Ankit Bhati - co-founder of
ola  Co-founder and Ola Cabs' Chief Technology
Officer (CTO), Ankit Bhati. In 2010, he and
Bhavish Aggarwal co-founded Ola. He co-founded
ANI Technologies, as well. 
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There have been rumors that Ankit Bhati's
separation from the ridesharing company last year
was caused by significant disagreements between
him and Bhavish Aggarwal, the company's founder.
But his contribution to the business goes much
beyond such suppositions Also Read The Success
Story of American Express Owner! Idea
behind OLA Ola Cabs was founded as a result of
Bhavish Aggarwal's pain point. The driver
abandoned him in the middle of his trip from
Bangalore to Bandipur. The reason is that he was
unwilling to change the already agreed-upon
compensation for the driver. He started thinking
about how he could create a helpful and enjoyable
taxi service as a result of feeling helpless.
Finally, he and co-founder Ankit Bhati completed
their goal in December 2010. Ola
Electric Electric scooter On May 26, 2017, Ola
unveiled India's first multimodal electric
vehicle initiative. In order to promote shared
mobility in Nagpur and pioneer electric vehicles
for the general public, the project brought
together industry professionals and the Indian
government. With a 250 million investment from
SoftBank in July 2019, Ola Electric Mobility Pvt.
Ltd., which was established as a separate
organisation, also attained unicorn
status. Achievement of Bhavesh Agarwal You
discover that Bhavesh Aggarwal has won numerous
honours when you learn more about him. Some of
the accolades Bhavish Aggarwal has won include
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IAMAI HATT awards' "mBillionth Award South Asia
2013 Best startup of the Year" Bhavish Aggarwal,
a member of the Forbes "30 under 30" list and the
Hindustan Times "30 under 30," was recognised as
CEO of the Year at the 2019 SABRE Awards South
Asia. He was named Entrepreneur of the Year by
the Economic Times and winner of the Asia
Business Leader Award by CNBC-TV18. Breakthrough
of the Year Ola - Business Model and Revenue
Model Ola's business strategy is
straightforward. It facilitates the provision of
taxi booking services. Through the app, users may
order cabs. All of the cabs are not owned by Ola.
Only drivers with valid licenses that have been
officially authorized and validated by
transportation authorities are permitted to
register with Ola these drivers may be
independent contractors or hired by a company
with several vehicles. Once they register with
Ola, drivers have access to a driver-specific
mobile app on their smartphone, just like we do
as customers. This is only done after carefully
examining the validity and performing due
diligence on the business and personal documents
of both the driver and the operator. The Ola
application gives drivers the freedom to choose
their own time to log in and accept customer ride
requests. Depending on their convenience, they
can decide to keep their session closed on the
system. Ola charges an average commission of 15
for all reservations made through the app.
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Ola - Funding, Investors, and Valuation Over 29
rounds, Ola has raised a total of over 5 billion
in funding. The secondary market and debt finance
are also included. On December 8, 2021, OLA
received its final round of fundraising after
successfully raising 139 million from investors
including Edelweiss. Another investment round,
dated February 22, 2022, followed, with a number
of investors participating, including Arrow
Multi-Asset Fund and Axis Growth Avenues AIF.
According to the company's regulatory filings,
the recent Series J funding enabled OLA raise Rs
150 crore. This follows the mobility giant's
acceptance of the assignment of 66,268 Series J1
preference shares, which are now fixed at an
issue price of Rs 22635 for a single share.
Axis Growth Avenues AIF was discovered to have
invested Rs 112.5 crore in this tranche, while
Arrow contributed Rs 37.5 crore.
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