Ola Cabs Success Story

 

Bhavish Aggarwal and Ankit Bhati, the co-founders of Ola, had an incredible journey that led to the birth of India's largest ride-hailing platform. The story begins in 2010 when both of them were working at different companies in Bangalore.

Bhavish, an IIT Bombay graduate, was working as a research assistant at Microsoft Research in Bangalore. One fateful evening, he had to attend a tech conference in Delhi and decided to hire a car for the journey. However, the experience turned out to be a nightmare. The driver was rude, the car was in poor condition, and Bhavish felt cheated by the exorbitant fare at the end of the trip. This frustrating experience left a lasting impact on him.

Around the same time, Ankit Bhati, an IIT Bombay graduate like Bhavish, was working at Intuit in Bangalore. Ankit had also faced similar challenges with taxi services in the city. He often struggled to find a taxi when he needed one, and even when he managed to get one, the fares were often unpredictable and unreasonably high.

One evening, Bhavish and Ankit happened to meet at a common friend's gathering. As they got talking, they realized they both shared a common frustration with the existing transportation options in Bangalore. The city's public transportation was inadequate, and the traditional taxi services were unreliable and lacked transparency.

The two young engineers couldn't help but wonder if there was a better way to solve this problem. They believed that technology could be the key to transforming urban mobility in India. Inspired by the success of ride-hailing platforms like Uber in the United States, Bhavish and Ankit saw an opportunity to create a similar service tailored to the Indian market.

Fuelled by their shared vision and determination to make a difference, Bhavish and Ankit decided to take a bold step. They quit their well-paying jobs and embarked on an entrepreneurial journey. They spent countless hours researching the market, understanding the challenges, and formulating a business plan.

In December 2010, their hard work and perseverance bore fruit, and Ola (initially called OlaCabs) was officially launched. The name "Ola" was chosen to reflect the idea of an "online automobile" service that would be accessible at the touch of a button.

With a small fleet of cars and a basic mobile app, Ola began its operations in Bangalore. The app allowed users to book a cab effortlessly, eliminating the need to flag down taxis or negotiate with auto-rickshaw drivers. Ola's focus on providing reliable, safe, and affordable rides quickly gained traction among the tech-savvy population of Bangalore.

As positive reviews and word-of-mouth spread, Ola's popularity surged. Investors recognized the potential of this innovative service and started showing interest. Bhavish and Ankit secured funding, which they reinvested to expand Ola's services to other cities across India.

However, Ola's journey was not without challenges. They faced resistance from traditional taxi operators and had to navigate through regulatory hurdles. Nevertheless, Bhavish and Ankit's unwavering dedication and commitment to providing a superior transportation experience enabled Ola to overcome these obstacles and thrive in the competitive market.

Over the years, Ola expanded its services beyond just cars to include auto-rickshaws, bikes, and even electric vehicles, staying ahead of the curve and adapting to the changing demands of the market.

Today, Ola is not only a household name in India but also a symbol of Indian entrepreneurship and innovation. Bhavish Aggarwal and Ankit Bhati's journey from frustration with traditional taxis to building a revolutionary ride-hailing platform exemplifies the power of a simple idea, backed by passion and determination, to transform an entire industry and impact the lives of millions of people.