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{{short description|Indian multinational ridesharing company}}
{{Use dmy dates|date=May 2018}}
{{Use Indian English|date=May 2018}}
{{Infobox company
| name = Ola Cabs
| former_name =
| trading_name =
| logo = Ola Cabs logo.svg
| type = [[Privately held company|Private]]
| industry = [[Transportation]]
| successor = 
| founded = {{Start date and age|df=yes|2010|12|03}}
| founders = {{Unbulleted_list|[[Bhavish Aggarwal]]|Ankit Bhati}}
| defunct = 
| fate =
| hq_location =
| hq_location_city = [[Bangalore]]
| hq_location_country = [[India]]<ref>{{cite web|url=https://www.olacabs.com/info/about_us|title=About us - Car rental - car hire - taxi India - olacabs.com|first=Olacabs - ANI|last=Technologies|website=olacabs.com}}</ref>
| num_locations =
| num_locations_year = 
| area_served = [[India]]<br/> [[Australia]] <br/>[[New Zealand]] <br/>[[United Kingdom]] <br/>
(250+ cities)
| key_people = {{Unbulleted_list|[[Bhavish Aggarwal]] ([[CEO]])|Ankit Bhati ([[Chief Technology Officer|CTO]])}}
| products = [[Mobile app]], [[website]]
| services = {{unbulleted list
| [[Vehicle for hire]]
| [[Delivery (commerce)|Goods]] and [[food delivery]]
| [[Mobile payment]] and [[digital wallet]]
}}
| revenue = {{INRConvert|25.44|b}}<ref>{{cite web|title=Ola revenues rise by 38% as losses take a 9% drop during FY19 |url=https://entrackr.com/2019/12/ola-revenues-rise-37-7-during-fy19/?utm_campaign=fullarticle&utm_medium=referral&utm_source=inshorts|website=entrackr.com|access-date=December 1, 2019 |date=December 1, 2019}}</ref>
| revenue_year = FY 2019
| operating_income =
| income_year = 
| net_income to =
| net_income_year = 
| assets =
| assets_year = 
| equity =
| equity_year = 
| owner =
| members =
| members_year = 
| num_employees = ~3,000
| num_employees_year = 2020
| parent =
| divisions =
| subsid =
| module = 
| website = {{URL|www.olacabs.com/}}
| footnotes =
| coordinates =
}}

'''Ola Cabs''' (stylized as '''OLΛ''') is an Indian [[Multinational corporation|multinational]] [[ridesharing company]] offering services that include [[vehicle for hire]] and [[food delivery]]. The company is based in [[Bengaluru]], [[Karnataka]], [[India]]. {{As of|2019|10}}, Ola was valued at about {{USD|6.5 billion}}.<ref>{{Cite web|last=Dalal|first=Mihir|date=2020-06-09|title=How Ola is hunkering down to ride out the storm|url=https://www.livemint.com/companies/start-ups/how-ola-is-hunkering-down-to-ride-out-the-storm-11591711850504.html|access-date=2020-06-18|website=livemint.com|language=en}}</ref> A variety of [[venture capitalists]] including [[Softbank]] have large stakes in the company.<ref name="wire29apr2018">{{cite news |title=Would an Ola-Uber Merger in India Get the Competition Commission's Approval? |url=https://thewire.in/business/ola-uber-merger-competition-commission-approval |access-date=19 March 2019 |publisher=The Wire |date=29 April 2018}}</ref>

In January 2018, Ola extended into its first overseas market, [[Australia]], and in [[New Zealand]] in September 2018.<ref>{{cite news|url=https://www.reuters.com/article/us-india-ola-newzealand/indias-ola-forays-into-new-zealand-in-latest-overseas-push-idUSKCN1LY0H4?il=0|title=India's Ola forays into New Zealand in latest overseas push|date=18 September 2018|work=Reuters|access-date=18 September 2018}}</ref> In March 2019, Ola began its [[United Kingdom|UK]] operations introducing auto rickshaws in UK. More than 10,000 drivers have applied both in online and offline mode ahead of its launch in [[London]]. In February 2020, Ola launched its taxi-hailing services with over 25,000 drivers registered.<ref>{{Cite web|url=https://www.businesstraveller.com/business-travel/2020/02/13/over-25000-drivers-register-for-ola-in-london/|title=Ola starts in London with over 25,000 drivers|website=Business Traveller|language=en-GB|access-date=2020-02-28}}</ref>

==History==
In March 2015, Ola Cabs acquired [[Bengaluru]]-based taxi service TaxiForSure for approximately {{INRConvert|12.37|b}}.<ref>{{cite news|url=http://economictimes.indiatimes.com/news/emerging-businesses/startups/olacabs-to-buy-taxiforsure-to-take-on-competitors-like-uber-deal-likely-at-rs-1250-crore/articleshow/46048014.cms|title=Olacabs to buy TaxiForSure to take on competitors like Uber; deal likely at Rs 1,250 crore|website=The Economic Times|first=Aditi|last=Shrivastava|date=29 January 2015}}</ref> June 2015 onwards, Ola users gained access to TFS cabs via the Ola mobile application.<ref>{{cite news|title=Ola cabs app and Taxi For Sure get into a relationship. Twitter trolls prove how complex it is|url=http://www.businessinsider.in/Ola-cabs-app-and-Taxi-For-Sure-get-into-a-relationship-Twitter-trolls-prove-how-complex-it-is/articleshow/47815748.cms |newspaper=[[Business Insider|Business Insider India]]|first=Suchayan|last=Mandal|date=25 June 2015}}</ref> Later in the year in November, Ola further acquired Geotagg, a trip-planning applications company, for an undisclosed sum.<ref>{{cite web|url=https://techcrunch.com/2016/08/17/ola-confirms-it-has-shut-down-taxiforsure-the-rival-it-acquired-for-200m/|title=Ola confirms it has shut down TaxiForSure, the rival it acquired for $200M|website=TechCrunch|first=Jon|last=Russell|date=17 August 2016}}</ref>

In a move to expand beyond cab aggregation, Ola acquired struggling foodtech company [[Foodpanda]] India with an eye on leveraging the growing food delivery segment business in December 2017.<ref>{{Cite news|url=https://techcrunch.com/2017/12/18/ola-foodpanda/|title=Uber rival Ola buys Foodpanda India to get into food deliveries|last=Russell|first=Jon|date=18 December 2017|work=[[TechCrunch]]|access-date=20 December 2017|publisher=[[Oath Inc.]]}}</ref> In April 2018, Ola made its second acquisition with [[Ridlr]] (formerly Traffline), a public transport ticketing app.<ref>{{Cite news|url=https://www.indianweb2.com/2018/04/03/ola-acquires-mumbai-based-public-transport-ticketing-app-ridlr/|title=Ola Acquires Mumbai-based Public Transport Ticketing App Ridlr|last=Chaudhary|first=Suman|date=3 April 2018|access-date=3 April 2018|publisher=IndianWeb2.com}}</ref> Later in August 2018, Ola financed Series A funding of the scooter rent startup Vogo, and again in December, invested another $100 million.<ref>{{Cite web|url=https://techcrunch.com/2018/12/17/ola-100-million-vogo/|title=Ola, Uber's India rival, invests $100M in scooter rental startup Vogo|website=TechCrunch|language=en-US|access-date=2018-12-18}}</ref>

In March 2019, the [[Karnataka]] state transport department suspended Ola's operating license for six months for violation of license conditions and violation of [[Karnataka]] On-Demand Transportation Technology Aggregator Rules, 2016. This was on account of Ola running bike taxi services though it only had license for four wheeler taxi operations. The company termed the order unfortunate and was looking at working with driving partners to continue functioning. They also claimed to be in touch with authorities to sort things out.<ref>{{Cite news|url=https://timesofindia.indiatimes.com/india/ola-cabs-banned-in-bengaluru-for-licence-violation/articleshow/68528835.cms|title=Ola cabs banned in Bengaluru for licence violation - Times of India|work=[[The Times of India]]|access-date=2019-03-23}}</ref>

==Services==
Ola offers different levels of service, ranging from economic to luxury travel.<ref>{{cite web|url=http://articles.economictimes.indiatimes.com/2014-09-02/news/53479832_1_ola-cabs-taxiforsure-uber|title=Ola aims to counter Uber with its Biz-class service|website=The Economic Times|date=2 September 2014}}</ref> 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.<ref>{{Cite news|url=https://factordaily.com/ola-money-gas-electricity-bills/|title=Pay gas and electricity bills with Ola Money|date=2016-11-28|work=FactorDaily|access-date=2017-05-05|language=en-US}}</ref> It claims to clock an average of more than 150,000 bookings per day and commands 60% of the market share in [[India]] as of 2014.<ref>{{cite web|url=http://www.vccircle.com/news/technology/2014/11/19/ola-now-has-250-300m-annual-gross-transaction-run-rate-peek-its-numbers|title=Ola now has $250-300M annual gross transaction run rate; peek at its numbers - VCCircle|website=VCCircle.com|date=19 November 2014|first=Sainul K|last=Abudheen}}</ref> As of 2019, the company has expanded to a network of more than 1.5 million drivers across 250 cities.<ref>{{cite web|title=Inside the data driven model of Ola with Sanjay Kharb, VP- Engineering, Ola - ET CIO|url=https://cio.economictimes.indiatimes.com/news/business-analytics/inside-the-data-driven-model-of-ola-with-sanjay-kharb-vp-engineering-ola/71174439|access-date=2 November 2019|work=ETCIO.com}}</ref>

=== Ola Auto ===
In November 2014, Ola diversified to incorporate [[auto rickshaw]]s on a trial basis in [[Bengaluru]].<ref>{{cite web|date=20 November 2014|title=Now Book Auto Rickshaws in Bangalore via Ola Cabs|url=http://gadgets.ndtv.com/apps/news/now-book-auto-rickshaws-in-bangalore-via-ola-cabs-623314|work=NDTV Gadgets}}</ref> After the trial phase, Ola Auto expanded to other cities like [[Delhi]], [[Pune]], [[Chennai]] and [[Hyderabad]] starting in December 2014.

===Ola Electric===
{{Main|Ola Electric}}
Ola spun off its electric vehicles business into a separate unit called [[Ola Electric]] Mobility with US$56 million of funding capital in February 2019. The funding was provided by [[Tiger Global]] and Matrix India.<ref>{{Cite web|title=Ola spins out EV unit, raises £43m funding {{!}} Mobile Marketing Magazine|url=http://mobilemarketingmagazine.com/ola-electric-mobility-funding|access-date=2020-11-10|website=mobilemarketingmagazine.com|language=en}}</ref> Apart from electric vehicles, Ola Electric also works on charging solutions, EV batteries and developing viable infrastructure to allow commercial EVs to operate at scale.<ref>{{cite web |title=India's Ola spins out a dedicated EV business — and it just raised $56M from investors |url=https://techcrunch.com/2019/02/28/ola-ev-business-ola-electric-mobility/ |website=TechCrunch |access-date=7 May 2019}}</ref> The company announced on 6 May 2019 that [[Ratan Tata]] had invested an undisclosed amount in Ola Electric as part of its Series A round of funding.<ref>{{cite web |title=Ratan Tata Invests in Ola Electric Mobility |url=https://www.carandbike.com/news/ratan-tata-invests-in-ola-electric-mobility-2033516 |website=NDTV |access-date=7 May 2019 |language=en}}</ref><ref>{{cite web |last1=Bansal |first1=Varsha |title=Ratan Tata raises stake in Ola, invests in fledgling electric vehicle business |url=https://www.livemint.com/companies/news/ratan-tata-raises-stake-in-ola-invests-in-fledgling-electric-vehicle-business-1557123393182.html|website=Mint|access-date=7 May 2019 |language=en |date=6 May 2019}}</ref>

Ola Electric raised $250 million from [[SoftBank]] during Series B round funding in July 2019, earning a valuation of over $1 billion.<ref>{{cite web |last1=Bansal |first1=Varsha |title=Ola Electric races to unicorn status with $250-million fundraise from SoftBank |url=https://www.livemint.com/companies/news/ola-electric-races-to-unicorn-status-with-250-million-fundraise-from-softbank-1562057141398.html |website=Mint |access-date=2 July 2019 |language=en |date=2 July 2019}}</ref>

Anand Shah, co-founder, Ola Electric and senior VP, Ola Cabs said that Ola Electric will need more capital to achieve its target of putting 1 million EVs on the roads by 2021.<ref>{{Cite web|url=https://www.livemint.com/companies/news/we-are-working-on-how-to-make-evs-ultra-affordable-ola-electric-s-anand-shah-1562151180379.html|title=We are working on how to make EVs ultra-affordable: Ola Electric's Anand Shah|last=Panday|first=Amit|date=2019-07-03|language=en|access-date=2019-07-03}}</ref>

Ola Electric acquired Amsterdam-based EV startup Etergo on 27 May 2020<ref>{{Cite web|url=https://www.olacabs.com/media/in/press/ola-electric-to-launch-its-electric-two-wheeler-for-global-markets-acquires-amsterdam-based-etergo|title=Ola Electric to launch its electric two-wheeler for global markets; acquires Amsterdam-based Etergo|date=2020-05-27|language=en}}</ref> to launch an own line of electric scooters in 2020.

Ola Electric CEO Bhavish Aggarwal announced in March 2021 that the company was building a 500 acre, fully-automated factory in [[Pochampalli, Tamil Nadu|Pochampalli]], a town in the [[Krishnagiri district]] of Tamil Nadu, to manufacture electric two wheelers.<ref>{{Cite web|title=Ola commences construction of mega factory on 500-acre site in Tamil Nadu, eyes production soon|url=https://www.cnbctv18.com/auto/ola-commences-construction-of-mega-factory-on-500-acre-site-in-tamil-nadu-eyes-production-soon-8425271.htm|access-date=2021-03-10|website=cnbctv18.com|date=25 February 2021|language=en-US}}</ref> The company claims it will be the largest two wheeler factory in the world with an annual production capacity of 10 million units.<ref>{{cite web |title=Ola's Bhavish Aggarwal Looks To Disrupt India's EV Market By Mass Producing Vehicles |url=https://www.moneycontrol.com/news/business/olas-bhavish-aggarwal-looks-to-disrupt-indias-ev-market-by-mass-producing-vehicles-6616401.html |website=Moneycontrol |access-date=7 March 2021}}</ref> The factory named the Ola FutureFactory produced its first electric two-wheeler on 15 August 2021. The factory will produce two models - S1 and S1 Pro - and is scheduled to begin delivering vehicles to customers who placed pre-orders by October 2021.<ref>{{cite web |title=Ola's first electric scooter rolls out from Ola Futurefactory. Check price |url=https://www.livemint.com/companies/news/olas-first-electric-scooter-rolls-out-from-ola-futurefactory-11629004359997.html |website=mint |access-date=15 August 2021 |language=en |date=15 August 2021}}</ref><ref>{{Cite web|date=2021-08-16|title=Ola launches S1 electric scooter range at Rs 99,999: To primarily challenge Ather 450X|url=https://www.financialexpress.com/auto/electric-vehicles/ola-launches-s1-s1-pro-electric-scooter-rs-99999-ather-450x-price-specs-features/2311527/|access-date=2021-08-17|website=www.financialexpress.com}}</ref> Ola received 500,000 bookings for scooters in the first month of availability.<ref>{{cite news |date=20 August 2021 |author=Anirban Mitra | title=Electric Scooter News: How Ola, Simple e-scooters started solid, clocked record bookings {{!}} |url=https://timesofindia.indiatimes.com/auto/bikes/how-ola-simple-e-scooters-started-solid-clocked-record-bookings/articleshow/85488160.cms |work=[[The Times of India]] |access-date=20 August 2021 |language=en}}</ref>

==Criticism==
===Technology===
Ola Cabs' technology came under criticism regarding the security of its mobile app. The API calls could be replayed to top up its wallet.<ref>{{cite news|url=http://economictimes.indiatimes.com/news/emerging-businesses/startups/taxi-aggregator-ola-hit-by-tech-glitches-that-allow-free-rides/articleshow/46629010.cms|title=Taxi aggregator Ola hit by tech glitches that allow free rides|work=The Economic Times|first1=Varun|last1=Aggarwal|first2=Malavika|last2=Murali|date=20 March 2015}}</ref>

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]].<ref>{{cite web|url=http://www.indiatimes.com/news/india/ola-cabs-accidentally-reveals-customer-data-to-chennai-girl-and-doesnt-care-244697.html |title=Ola Cabs Accidentally Reveals Customer Data To Chennai Girl, And Doesn't Care |work=Indiatimes.com|first=Kunal |last=Anand|date=30 August 2015}}</ref> The issue was reportedly fixed three weeks later after receiving considerable media coverage and social media attention.<ref>{{cite web|url=http://indianexpress.com/article/technology/social/ola-blames-manual-error-for-leaked-personal-user-data/ |title=Ola leaked its customers data, claims user; company blames manual error |work=The Indian Express |date=1 September 2015}}</ref>

On January 19, 2020, a technical glitch caused multiple users to receive notifications such as "Your ride is on the way" or "Your ride is here" despite them not even attempting to book through the platform. In some cases, cancelling the ride even attempted to automatically book another ride.<ref>{{Cite web|last=Sil|first=Debarghya|date=2021-01-20|title=Technical Glitch: Ola App Sends False Booking Notifications To Users|url=https://www.entrepreneur.com/article/363734|access-date=2021-01-21|website=Entrepreneur|language=en}}</ref>

===Overcharging and lack of transparency in charging===
The refund policy of Ola Cabs has been criticised because of charging errors caused by technical glitches in their system.<ref>{{cite web|url=http://trak.in/tags/business/2015/05/13/ola-billing-issues/|title=Decoding OLA Cabs Billing Issues – Ola ka Gola!|date=13 May 2015|website=Trak.in}}</ref> Surge pricing has been an issue with customers, as Ola is said to initially eliminate competition by lowering prices, and then hiking up prices through what it calls [[surge pricing]]. The fact that the same ride can cost different amounts depending on the time, day and the profiles, history and rating of the driver as well as passenger has also incurred much customer wrath.<ref name="wire26mar2018" />

===Driver concerns===
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 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.<ref>{{cite news|url=https://economictimes.indiatimes.com/small-biz/startups/ola-uber-driver-pay-cut-by-a-third-in-1-year/articleshow/60726122.cms | title=Ola, Uber cut driver pay by a third in 1 year | date=18 September 2017 | website=economictimes.com}}</ref>

Charges comprise:
* 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)<ref>{{Cite web|url=https://blog.olacabs.com/peak-hour-surcharge-the-what-why-and-how-of-it/|title=Peak Pricing: The what, why, and how of it ||website=blog.olacabs.com}}</ref>
*[[Goods and Services Tax (India)|GST]] (5%)
* Toll charges (toll collection if crossing a toll junction)

Ola and Uber have also been criticised due to their practice of baiting drivers and passengers, initially with discounts and bonuses, and then hiking up fares without passing the proceeds to drivers. Their practice of taking large signing up amounts from drivers and not considering them employees has also been criticised. Both companies contractually treat drivers as "[[contractors]]" thus excusing themselves from any legal obligations.<ref name="wire26mar2018">{{cite news |title=Ola, Uber and the Precarious Future of Blue Collar Platform Workers |url=https://thewire.in/labour/ola-uber-and-the-precarious-future-of-blue-collar-platform-workers |access-date=19 March 2019 |publisher=The Wire |date=26 March 2018}}</ref> In an interview, Pranay Jivrajka, a co-founder of OLA, claimed that the company will be creating 5 million new "opportunities" in the next five years. He was, however, careful not to use the word jobs for these opportunities. He added that it was not just about jobs but creating an ecosystem.<ref name="Agrawal2018">{{cite book|author=Ravi Agrawal|title=India Connected: How the Smartphone is Transforming the World's Largest Democracy|url=https://books.google.com/books?id=rLhwDwAAQBAJ&pg=PP1|date=1 October 2018|publisher=Oxford University Press|isbn=978-0-19-085867-4|page=74}}</ref>

====Assaults on and Murders of Ola cab drivers ====
There have been 11 cases of murders, and over 90 cases of kidnapping and robbery of drivers working for app-based cab aggregators including Ola, by criminals posing as passengers using fake profiles.<ref>https://dbpost.com/not-only-passengers-even-cabbies-are-at-risk-of-getting-killed/</ref> The most recent case happened in the city of [[Pune]] in June 2019 when a passenger killed the driver to steal his car.<ref>{{cite news |title=Pune: Two men book Ola cab to murder driver, steal car |url=https://indianexpress.com/article/cities/pune/pune-two-men-book-ola-cab-to-murder-driver-steal-car-5796310/ |access-date=3 July 2019 |agency=Express News Service |issue=June 24, 2019 |publisher=The Indian Express |date=June 24, 2019}}</ref> Two other murders of Ola drivers by robbers took place in [[New Delhi]] and [[Agra]] respectively.<ref>{{cite news |last1=HT Correspondent |title=Delhi Police arrest two men for Ola cabbie's murder |url=https://www.hindustantimes.com/delhi-news/delhi-police-arrest-two-men-detain-juvenile-for-ola-cabbie-s-murder/story-AD8scHi4ckHuJSS1XRPyQJ.html |access-date=14 August 2019 |work=Hindustan Times |issue=August 29, 2018}}</ref>

===Congestion externalities===

A recent study has shown that Ola may be contributing significantly to congestion in three major Indian cities - Mumbai, Bangalore and New Delhi.<ref>{{cite journal |last1=Agarwal |first1=Saharsh |last2=Mani |first2=Deepa | last3=Telang | first3=Rahul |title=The Impact of Ride-hailing Services on Congestion: Evidence from Indian Cities |journal=SSRN | url = https://ssrn.com/abstract=3410623 | date=2020 }}</ref> The adverse congestion effects were found to be the highest in the busiest areas of each city during peak hours. The study also reported that many who use these services would have otherwise used more efficient forms of public transport, such as the Delhi Metro.

===Driver credibility===
[[File:Ola Panic Button - Kolkata 2017-05-27 20170527111437.jpg|thumb|100px|Panic button for passengers in an Ola car in Kolkata]]
[[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.<ref>{{cite news|title=80% of Uber, Ola does not have permits to ply in Delhi, says minister|url=http://indianexpress.com/article/cities/delhi/80-of-uber-ola-cabs-dont-have-permits-to-ply-in-delhi-says-minister/ |newspaper=[[The Indian Express]]|date=19 June 2015}}</ref> Drivers also protested<ref>{{cite news | url=http://newshub.in/world/ola-cab-drivers-kukatpally/1894/ | title=Cab Drivers Attack Ola Office in Kukatpally | author=Reddy | date=30 December 2016 | publisher=Newshub | access-date=6 May 2018 }}</ref> outside the [[Kukatpally|Kukatapally]], [[Hyderabad]] office of Ola, demanding more transparency over payments.

==References==
{{reflist|2}}

==External links==
* {{official}}

{{Sharing economy}}
{{SoftBank}}

[[Category:Ola Cabs| ]]
[[Category:Ridesharing companies of India]]
[[Category:Online companies of India]]
[[Category:Transport companies established in 2010]]
[[Category:Taxis of India]]
[[Category:Companies based in Bangalore]]
[[Category:Softbank portfolio companies]]
[[Category:Indian companies established in 2010]]
[[Category:2010 establishments in Karnataka]]

Ola Cabs - Revision history

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