Let’s suppose if you have to go somewhere so you can book a cab in one click 20 minutes before the time. The cab will come to your home, and you don’t have to discuss fare with a cab driver. When you book an OLA cab from its app this will tell you the total fare as per your route. You just have to sit in an OLA cab go to your destination place. OLA was the first to start a cab service in India. Bhavish Aggarwal and Ankit Bhatia had laid the foundation of OLA. When Ola was launched in 2010, even 10 rides of the day were not booked on Ola. But today more than 20 lakh rides are booked on Ola’s app.
So, let’s know the journey of Ola today from the beginning.
Bhavish Aggarwal completed her graduation in Computer Science from IIT Bombay in 2008. After completing her graduation from IIT he started a job at Microsoft Research in Bengaluru. Like others, Bhavish also wanted to start his own business but Bhavish parents think that this is not so good option to leave a job at such a leading company – Microsoft.
He thought of doing a business along with the job and started a tour of olatrip.com. It is just like an online travel agent in which ola offers packages like holiday packages and weekend packages. If someone likes packages, they can book their packages through this online platform. Bhavish started this journey at Bengaluru along with their job.
One day Bhavish wants to go to Bandipur from Bengaluru. He takes a taxi from Bengaluru to go to Bandipur. But in the middle of the way, the driver stopped the car and started asking for more fare than the fixed fare. He told his friends about the incident that happened to him. Through this incident, Bhavish sees the golden opportunity of starting the business of cab services.
Plantation Of Business Model
Bhavish worked hard day and night to build a future business model. The first point of the business model is a kind of App where people can book their cab. The second point of the business model is the car. There are two ways for the cars buy multiple cars of your own and rent the cars which are already in the city.
There are two main disadvantages of the first way – High Investment is required to Buy Multiple Cars and buy and to appoint many drivers for this. But there is one advantage – Whatever money got from the ride would go to Ola and only the drivers would have to get their salary. The second route had two advantages – There is no need to buy a single car, and also there is no need to hire a driver.
Ankit Bhatia has also joined with Bhavish Aggarwal. Ankit also graduated from IIT Bombay. He has done B.tech in mechanical engineering. Bhavish had prepared a business model, the first need of the business model was Ola’s app and the second challenge was a group of drivers. Bhavish and Ankit first selected Mumbai city and started efforts to collect the drivers but some of the drivers are not engaged in this scheme.
Connection of Drivers To OLA
Bhavish and Ankit connected some drivers with OLA and give them a tip of Rs 5000 per day. The condition is that the driver must complete their first ride. Slowly this thing spread in the market and every driver wanted to join Ola. Bhavish’s business model was so strong that many companies were ready for investment. Through this investment, they both collected some drivers. Slowly the Ola Started their advertisement in the market. OLA gives schemes to the people that who so ever book the ride will get the first 3 rides free, 50% off, etc. People connect with OLA through different schemes.
In 2011 OLA only gets 10 rides/day. As time passes the ratio of rides increases. In 2015 OLA gets 7 lakhs rides/day. When OLA starts popularising in the market, they slow down the tip rates of the drivers. All drivers get a salary added to the tip. In 2012, Ola expanded and launched Ola Cabs in Delhi and Bangalore as well. Soon OLA has covered all the regions of India. In 2019, OLA is giving services in more than 250 cities and more than 15 lakhs drivers are connected with OLA. It’s a great success.
Positioning of New Services and Features
Apart from India Ola is also serving its services in UK, New Zealand, Australia, etc. You get options from low budget to high budget. You will get two options on a low budget – OLA micro and OLA mini. On a high budget, you also get two options – OLA prime play and OLA prime SUV. OLA started his sharing options.
If two persons want to go to the same location then the fare will be divided among two passengers. Apart from cab services, OLA started auto-rickshaw services in 2014, and in 2016 OLA started its bike services.
OLA Cabs has grown to be India’s largest network of personal transportation alternatives, and it has emerged as the most preferred option for many consumers in 22 Indian cities.
The Inspiration Story of Bhavish Aggarwal Makes a good impact on Youngster life.