The Journey of Bhavish Aggarwal from pitching the Ola app to making it to top 100 influential people list.
22nd, April 2018 - Featured entrepreneur
Bhavish Aggarwal belongs to a young breed of Entrepreneurs who form the face of young entrepreneurship ecosystem currently. He graduated from IIT Bombay in 2008; he worked for Microsoft couple of years back then later starting up Ola cabs- a cab rental service under ANI Technologies Pvt. Ltd which is cab aggregators during 2011.
The ride-hailing app is currently in the process of setting up booking kiosks in 12 railway stations in Bangalore and 6 airports in India, whereby travellers can directly go to Ola zone and book taxis instead of relying on the app, there will also be designated parking spaces allotted to the company at stations and airports, furthermore Ola is also working with the government to introduce electric vehicles in the Indian cities with the government aiming to turn the country into a 100% e- vehicle nation by 2030.
Bhavish Aggarwal a young entrepreneur pitched his product and idea to a large audience at your story’s. Ola is founded by Bhavish Aggarwal and Ankit Bhati in January 2011, Ola is currently present in 110 cities with over 1mn drive partners. ET report stated that the deal is expected to value Ola at $6 Bn-$7 Bn.
Bhavish said that ‘cabs and taxis are still a market that needs to be disrupted. the problem will be solved by smartphones and technologies like GPS.we are leveraging new technology’.Ola meanwhile is focusing on expansion and recently made into Australia as well, with lower commission rates of 7.5% for drivers compared to 20% charged thereby uber. Uber, however, has a long-standing presence in Australia, where uber which is present in a total of 23 cities in Australia and New Zealand the market is currently dominated by uber, while there are local startups like to catch that are operating in Australia's ride-sharing space.
As per the data from the consulting firm, the gross booking value of companies in local ridesharing price increased to $ 2.1 bn in 2017 from $ 1.5 bn in the year before.
In terms of valuation, Ola became India's third most valued company startup after its funding round that generated $400 m and valued the company at $2.5 billion in 2015. During 2017 he has won Entrepreneur award for corporate excellence.
Both Ola and Uber are locked in a battle for supremacy in India with Ola maintaining 65-70% of the marked shares Uber have closed the market gap in terms of cab rides.
Another feather added to his cap in 2018, when he is identified as a Top 100 influential people by Time’s.
We wish Bhavish all the very best in his Entrepreneurial journey.
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