|Founded||3 December 2010Mumbai, Maharashtra, Indiain|
|Founder||Bhavish Aggarwal |
|India, Australia, New Zealand, UK (169+ cities)|
|Bhavish Aggarwal (CEO) |
Ankit Bhati (CTO)
|Products||Mobile app, website|
|Revenue||₹758 crore (US$110 million) (FY 2016)|
Number of employees
Ola Cabs was founded on 3 December 2010 as an online cab aggregator in Mumbai, and is now based in Bangalore. As of 2018, the company has expanded to a network of more than 10,00,000 vehicles across 169 cities. In November 2014, Ola diversified to incorporate autorickshaws on a trial basis in Bangalore. After the trial phase, Ola Auto expanded to other cities like Delhi, Pune, Chennai and Hyderabad starting in December 2014.
In March 2014, Ola Cabs acquired Bengaluru based taxi service TaxiForSure for approximately ₹1,394 crore (US$200 million). From 25 June 2015, Ola users gained access to TFS cabs via the Ola mobile application. In November 2015, Ola acquired Geotagg, a trip-planning applications company, for an undisclosed sum.
In August 2018 Ola financed Series A funding of the scooter rent startup Vogo, and in December, Ola invested another $100 million.
Ola offers different levels of service, ranging from economic to luxury travel. The cabs are reserved through a mobile app and also through their website and the service accepts both cash and cashless payments with Ola money. It claims to clock an average of more than 1,500,000 bookings per day and commands 60% of the market share in India.
Ola Cabs' technology came under criticism regarding the security of its mobile app. The API calls could be replayed to top up its wallet.
In August 2016, a privacy breach occurred when customers' details such as names, phone numbers and addresses, in Bangalore, were received as SMS messages by an individual in Chennai. Although these unanticipated messages were reported to Ola, the company ignored them, even under the threat of being reported to the TRAI. The issue was reportedly fixed three weeks later after receiving considerable media coverage and social media attention.
Overcharging and transparency in charging
The refund policy of OlaCabs has been criticised because of charging errors caused by technical glitches in their system. As of December 2018, there were 190 negative reviews on ola cabs posted on Trip advisor by dissatisfied customers.
Concerns of drivers
Ola from January 2017 has been highly criticised for continuously dropping the driver incentives which in turn is affecting driver-partner's monthly income. Most nowadays fail to cope up with their monthly EMIs and other dues. Daily income of cab drivers is now equal to auto drivers running in the city after deducting all dues.
- Base fare (fixed amount)
- Distance fare (charged per kilometre)
- Ride time fare (charged per time taken to travel)
- Peak pricing (direct ratio depending on demand for cabs)
- GST (5%)
- Toll charges (toll collection if crossing a toll junction)
Delhi Transport authority in early 2015 questioned the credibility and required verification of drivers working for Ola, along with other competitors such as Uber. The inquiry revealed that approximately 80% of drivers amongst all services did not possess permits to ply commercial transport services in Delhi. Drivers also protested outside the Kukatapally, Hyderabad office of Ola, demanding more transparency over payments.
Various reasons apart from gender diversity issues have caused a lot of attrition at Ola, called "ola's culture problem".
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