Online cab booking market has prospered beyond the imagination in the past 2 years and almost everyone these days in metros and urban centers look up to these cabs. Ola has become so popular that when you talk about the cabs, it is the first word that comes on everybody’s mind. The stats of the brand are just minded boggling defining how quickly they have progressed in the recent years. As per data, Ola currently has collaborations with 169000 vehicles spread across 169 cities of India.
The brand is growing by every passing day and new cabs are registering in mind boggling numbers across all the centers of India. It has also gone international these days with Australia and New Zealand these days. Not only has it expanded over the market these days, it has also made the travel comfortable and pocket friendly as well. This is why every one of us these days has developed the trust and faith in the brand these days.
History and early struggles –
The Bengaluru based brand initially started its operations in the Mumbai and later shifted to Mumbai. Two Mumbai based IIT graduates Bhavish and Ankit started the company in the year 2010. As with every brand, the story of Ola is quite similar. Bhavish had to travel from Bengaluru to Bandipur for some of his business needs. He rented out a car for the same and found that the experience was quite bad.
He then got to realize that how tough and tricky it is for the customers to travel across and within the cities. It was the sowing seed for the foundation of Ola and this is how the enticing journey started.
Then, in the December 2010 along with his college mate Ankit, he laid the foundation of the Ola cabs. Like all the parents, his parents were also worried and not agreeable with the idea but slowly and steadily they were convinced. But when the angel investors Kunal Bahl, Rehan Yar Khan and Anupam Mittal, founders of Snapdeal extended their investment support, the parents were somewhat convinced.
The thing that made Bhavesh and Ola successful is that he believed in the importance of a good team. He believed that having a good idea is one thing but to execute it perfectly, you need to have a good team beside you helping you on all aspects. He also believes that if you want to play it safe, make sure you are engaged in a business that needs zero inventory.
Ola-Transformation into India’s biggest travel manager –
The company started in the 2010 started taking giant strides in the market and has become a face to reckon with. It is now taken in the same breath as some of the leading companies across India. The business model of the company is very simple and the Ola app has everything that one needs as a vehicle owner or a customer.
The simplicity and ease which the Ola app provides makes the brand even more successful and has made it top all the charts. The company initially started its operations in Bengaluru and other metros but has now reached more than 150 cities across India. The model of the company is what makes it so popular and successful. The ease which it provides to its partners as well as customers is just amazing. It has reduced the waiting time for the passengers across India and is getting bigger and better with every passing day.
Collaborations and Partners –
The brand has started to extend its arms in all the directions recently and they have collaborated with various top brands for enhanced services. The company has partnered with various food chains to provide food on the go to the travelers.
It has also partnered with Phonepe for easy and hassle free payments. The company has also come up with Ola money, its own wallet that can help you with various services. It offers the facility to recharge, make payments, pay bills and many more making things easier for the Ola users.
Awards and recognitions –
As per the wordings of Bhavesh, co-founder of Ola, the love, affection and trust of the customers is the biggest recognition for any brand. To his pleasure, they have received plenty of love and affection from their customers. But, in addition to this, they have also been recognized at national and international events. Here is a look at awards and recognitions of Ola cabs –
- Entrepreneur award for corporate excellence was given to Bhavesh in the year 2017 at ET awards.
- They have also been conferred with the best taxi app for the year 2018.
- Startup of the year award at the ET awards 2015 was given to Ola cabs for their work in Taxi and transportation sector.