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{{Use Indian English|date=May 2018}} | {{Use Indian English|date=May 2018}} | ||
{{Infobox company | {{Infobox company | ||
| name = Ola | | name = Ola | ||
| former_name = | | former_name = | ||
| trading_name = | | trading_name = | ||
| logo = Ola Cabs logo.svg | | logo = Ola Cabs logo.svg | ||
| logo_size = 250px | |||
| type = [[Privately held company|Private]] | | type = [[Privately held company|Private]] | ||
| industry = [[Transportation]] | | industry = [[Transportation]] | ||
| Line 15: | Line 16: | ||
| fate = | | fate = | ||
| hq_location = | | hq_location = | ||
| hq_location_city = [[Bangalore]] | | hq_location_city = [[Bangalore]], [[Karnataka]], India | ||
| num_locations = 250+ cities | |||
| num_locations = | |||
| num_locations_year = <!-- Year of num_locations data (when known) --> | | num_locations_year = <!-- Year of num_locations data (when known) --> | ||
| area_served = [[India]]<br/> [[Australia]] <br/>[[New Zealand]] <br/>[[United Kingdom]] | | area_served = [[India]]<br/> [[Australia]] <br/>[[New Zealand]] <br/>[[United Kingdom]] | ||
| key_people = {{Unbulleted_list|[[Bhavish Aggarwal]] ([[CEO]])|Ankit Bhati ([[Chief Technology Officer|CTO]])}} | | key_people = {{Unbulleted_list|[[Bhavish Aggarwal]] ([[CEO]])|Ankit Bhati ([[Chief Technology Officer|CTO]])}} | ||
| products = [[Mobile app]], [[website]] | | products = [[Mobile app]], [[website]] <br /> | ||
* [[Krutrim (Ola)]] | |||
| services = {{unbulleted list | | services = {{unbulleted list | ||
| [[Vehicle for hire]] | | [[Vehicle for hire]] | ||
| Line 28: | Line 28: | ||
| [[Mobile payment]] and [[digital wallet]] | | [[Mobile payment]] and [[digital wallet]] | ||
}} | }} | ||
| revenue = {{INRConvert| | | revenue ={{increase}}{{INRConvert|2544|c}}<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/|website=entrackr.com|access-date=December 1, 2019 |date=December 1, 2019}}</ref> | ||
| revenue_year = FY 2019 | | revenue_year = FY 2019 | ||
| operating_income = | | operating_income = | ||
| Line 43: | Line 43: | ||
| num_employees = ~3,000 | | num_employees = ~3,000 | ||
| num_employees_year = 2020 | | num_employees_year = 2020 | ||
| parent = | | parent = ANI Technologies<ref name="anitech">{{cite news |last1=Bhalla |first1=Tarush |title=Ola posts operating profit in FY21 ahead of likely share sale |url=https://www.livemint.com/companies/company-results/ola-cabs-pushes-towards-ebitda-profitability-in-covid-hit-year-11635846805537.html |access-date=15 November 2021 |work=mint |date=2 November 2021 |language=en}}</ref> | ||
| divisions = | | divisions = | ||
| subsid = | | subsid = | ||
| Line 52: | Line 52: | ||
}} | }} | ||
'''Ola Cabs''' (stylized as '''OLΛ''') is an Indian [[Multinational corporation|multinational]] [[ridesharing company]] | '''Ola Cabs''' (stylized as '''OLΛ''') is an Indian [[Multinational corporation|multinational]] [[ridesharing company]], headquartered in [[Bangalore]]. It also operates in other business verticals including financial services and [[cloud kitchen]]s. | ||
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]] | 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 launched 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 operations in the [[United Kingdom|UK]].<ref>{{cite news |last1=Shrivastava |first1=Aditi |title=Next pickup is London for Ola |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/ola-gets-green-light-for-london-launch/articleshow/70075567.cms |access-date=1 January 2022 |work=The Economic Times}}</ref> | ||
==History== | ==History== | ||
In March 2015, Ola Cabs acquired [[ | In March 2015, Ola Cabs acquired [[Bangalore]]-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 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> | ||
| Line 63: | Line 63: | ||
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> | 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> | ||
In 2019, more than 10,000 drivers applied both in online and offline mode, ahead of its launch in [[London]]. In February 2020, Ola launched its taxi-hailing services in London 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> | |||
Ola posted its first-ever operating profit of {{INRconvert|90|c}} in the financial year 2020-21.<ref>{{cite news |last1=Bhalla |first1=Tarush |title=Ola posts operating profit in FY21 ahead of likely share sale |url=https://www.livemint.com/companies/company-results/ola-cabs-pushes-towards-ebitda-profitability-in-covid-hit-year-11635846805537.html |access-date=1 January 2022 |work=mint |date=2 November 2021 |language=en}}</ref> | |||
== | ==Subsidiaries and services== | ||
Apart from the ride-hailing business Ola Cabs, the holding company ANI Technologies operates Ola Fleet, Ola Financial Services, and Ola Foods.<ref name="anitech"/> As of September 2019, it also owns a 6% stake in the electric scooter manufacturing company [[Ola Electric]].<ref>{{cite news |title=The Curious Case Of Bhavish Aggarwal And Ola Electric |url=https://www.moneycontrol.com/news/business/the-curious-case-of-bhavish-aggarwal-and-ola-electric-4447411.html |access-date=23 November 2021 |work=Moneycontrol |language=en}}</ref> | |||
Ola | |||
Ola | ===Ride hailing=== | ||
Ola Cabs 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 online payments. 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> | |||
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 Metro|Hyderabad]] starting in December 2014. | |||
In March 2016, it introduced [[Motorcycle taxi|bike taxi]] service on its platform.<ref>{{cite news |title=Ola, Uber launch bike taxi service in Bengaluru today; price as low as Rs 2 per km |url=https://www.financialexpress.com/industry/ola-uber-intensify-competition-launch-bike-taxis-in-bengaluru/219076/ |access-date=24 November 2021 |work=The Financial Express |date=3 March 2016}}</ref> Ola has faced legal troubles in many states where operating bike taxis is illegal.<ref>{{cite news |last1=Menezes |first1=Naveen |last2=Peermohamed |first2=Alnoor |title=Karnataka suspends Ola permit for six months over bike taxis |url=https://economictimes.indiatimes.com/industry/transportation/roadways/ola-cabs-banned-in-bengaluru-for-licence-violation/articleshow/68526735.cms |access-date=24 November 2021 |work=The Economic Times |date=23 March 2019}}</ref><ref>{{cite news |title=Ola suggests government way to legalise bike taxis; asks banks to ease loan process for drivers |url=https://www.financialexpress.com/industry/sme/ola-suggests-government-way-to-legalise-bike-taxis-asks-banks-to-ease-loan-process-for-drivers/1900937/ |access-date=24 November 2021 |work=The Financial Express |date=17 March 2020}}</ref> | |||
Ola | ===Ola Fleet=== | ||
In January 2015, Ola acquired radio taxi company GCabs for an undisclosed amount and renamed it as Ola Fleet Technologies.<ref>{{cite news |last1=Chakraborty |first1=Sayan |title=Ola invests Rs50 crore in cab leasing unit Ola Fleet |url=https://www.livemint.com/Companies/D1AuvKHuEKDXGhUcRbarzL/Ola-invests-Rs50-crore-in-cab-leasing-unit-Ola-Fleet.html |access-date=24 November 2021 |work=mint |date=1 March 2017 |language=en}}</ref> Ola Fleet is engaged in leasing of cabs to partnered drivers.<ref>{{cite news |title=Ola waives off lease rentals for driver-partners |url=https://www.newindianexpress.com/business/2020/mar/24/ola-waives-off-lease-rentals-for-driver-partners-2121051.html |access-date=24 November 2021 |work=The New Indian Express}}</ref> | |||
===Ola Foods=== | |||
Ola entered [[food delivery]] segment in March 2015 under the name Ola Cafe, but stopped the services in March 2016.<ref>{{cite news |title=Ola Launches Food Delivery Service in Select Cities |url=https://gadgets.ndtv.com/apps/news/ola-cabs-launches-20-minute-food-delivery-service-in-4-cities-672697 |access-date=28 January 2022 |work=NDTV |language=en}}</ref><ref name=shutdown>{{cite news |last1=Pillai |first1=Shalina |title=Ola shuts down its grocery and food delivery services |url=https://timesofindia.indiatimes.com/tech-news/ola-shuts-down-its-grocery-and-food-delivery-services/articleshow/51337010.cms |access-date=28 January 2022 |work=The Times of India |language=en}}</ref> It began offering food delivery services again in December 2017 with the acquisition of [[Foodpanda]]'s Indian subsidiary for an undisclosed sum. Ola also announced that it would infuse up to $200 million in the food delivery unit.<ref name="auto">{{Cite news|last=Russell|first=Jon|date=18 December 2017|title=Uber rival Ola buys Foodpanda India to get into food deliveries|work=[[TechCrunch]]|publisher=[[Oath Inc.]]|url=https://techcrunch.com/2017/12/18/ola-foodpanda/|access-date=20 December 2017}}</ref> While the number of users and orders went up in 2018 due to discounts and offers, the numbers dropped sharply in early 2019. In June 2019, it stopped food delivery service and laid off most of its 1,500 delivery executives. However, it continued to operate Foodpanda's [[cloud kitchen]] business.<ref name="LiveMint-2019-May-Bansal">{{cite news |last=Salman S.H. |first=Varsha Bansal |date=2019-05-22 |title=Ola drops Foodpanda delivery, lays off several employees |url=https://www.livemint.com/companies/start-ups/ola-drops-foodpanda-delivery-lays-off-several-employees-1558463350377.html |work=LiveMint |access-date=2020-06-05}}</ref> As of 2021, Ola Foods operates more than 50 cloud kitchens, including its flagship brand called Khichdi Experiment, in six cities.<ref>{{cite news |last1=SH |first1=Salman |title=Ola Foods holds QSR plans, to focus on meal kits and private brands |url=https://www.livemint.com/companies/start-ups/ola-foods-shelves-qsr-plans-to-focus-on-meal-kits-and-private-brands-11599647857022.html |access-date=11 November 2021 |work=mint |date=9 September 2020 |language=en}}</ref><ref>{{cite news |last1=Soni |first1=Yatti |title=Ola Foods plans to launch a burger brand |url=https://www.thehindubusinessline.com/companies/ola-foods-plans-to-launch-a-burger-brand/article37092382.ece |access-date=11 November 2021 |work=Business Line |date=20 October 2021 |language=en}}</ref> | |||
===Ola Financial Services=== | |||
In November 2015, Ola launched its [[mobile payment]]s and [[digital wallet|wallet]] product called OlaMoney.<ref>{{cite news |last1=Verma |first1=Shrutika |title=Ola enters mobile payments space with Ola Money |url=https://www.livemint.com/Companies/P4REfJgDkjHWkIi6q9shBP/Ola-enters-mobile-payments-space-with-Ola-Money.html |access-date=24 November 2021 |work=mint |date=13 November 2015 |language=en}}</ref> OlaMoney is owned by Ola Financial Services, which also offers other financial products such as [[buy now pay later]], insurance, [[co-branded]] credit cards and vehicle loans in partnership with other financial institutions.<ref>{{cite news |last1=SH |first1=Salman |title=Ola's financials services arm raises ₹200 crore, CEO Nitin Gupta quits |url=https://www.livemint.com/companies/news/olas-financials-services-arm-raises-inr-200-crore-ceo-nitin-gupta-quits-11590506676062.html |access-date=11 November 2021 |work=mint |date=26 May 2020 |language=en}}</ref><ref>{{cite news |title=Ola Financial Services to expand insurance business internationally |url=https://www.business-standard.com/article/companies/ola-financial-services-to-expand-insurance-business-internationally-121110700213_1.html |access-date=11 November 2021 |work=Business Standard India |date=8 November 2021}}</ref><ref>{{cite news |last1=Panday |first1=Amit |title=Ola launches credit card in tie-up with SBI Card |url=https://www.livemint.com/money/personal-finance/ola-launches-credit-card-in-tie-up-with-sbi-card-1557988617247.html |access-date=11 November 2021 |work=mint |date=16 May 2019 |language=en}}</ref> | |||
==Defunct services== | |||
===Ola Dash=== | |||
In July 2015, Ola launched Ola Store, a [[Online grocer|grocery delivery]] service in Bangalore, before shutting it down in March 2016.<ref name=shutdown/><ref>{{cite news |title=Inside Ola's plan to crack the food and grocery delivery market, again |url=https://www.moneycontrol.com/news/business/inside-olas-plan-to-crack-the-food-and-grocery-delivery-market-again-7649021.html |access-date=28 January 2022 |work=Moneycontrol}}</ref> In November 2021, Ola Store returned with quick delivery of grocery and essentials, starting with a [[Pilot experiment|pilot launch]] in Bangalore.<ref>{{cite news |title=Ola begins pilot of quick grocery delivery service in Bengaluru: Report |url=https://www.business-standard.com/article/companies/ola-begins-pilot-of-quick-grocery-delivery-service-in-bengaluru-sources-121110500707_1.html |access-date=28 January 2022 |work=Business Standard India |date=5 November 2021}}</ref> By January 2022, Ola set up 200 [[dark store]]s across 9 cities, and rebranded the service as Ola Dash.<ref>{{cite news |title=Ola plans aggressive push for Ola Dash in crowded quick-commerce arena |url=https://economictimes.indiatimes.com/tech/startups/ola-plans-aggressive-push-for-ola-dash-in-crowded-quick-commerce-arena/articleshow/89184354.cms |access-date=28 January 2022 |work=The Economic Times}}</ref> In April 2022, Ola Dash scaled down its operations from 9 cities to 3 cities and dismissed over 2,100 contract workers.<ref>{{cite news |title=Ola Dash: 10-minute grocery delivery service decides to go slow |url=https://www.financialexpress.com/industry/sme/ola-dash-10-minute-grocery-delivery-service-decides-to-go-slow/2499665/ |access-date=27 June 2022 |work=Financial Express |language=en}}</ref><ref>{{cite news |last1=Sahay |first1=Priyanka |last2=Toms |first2=Manu P. |title=Ola restructures quick-commerce business, ends contracts of 2,100 workers at Ola Dash dark stores |url=https://economictimes.indiatimes.com/prime/technology-and-startups/ola-restructures-quick-commerce-business-ends-contracts-of-2100-workers-at-ola-dash-dark-stores/primearticleshow/90964308.cms |access-date=27 June 2022 |work=The Economic Times}}</ref> In June 2022, it shut down Ola Dash in all cities.<ref name="dashcars">{{cite news |title=Ola to shut Dash, its quick commerce business, and merge cars unit with electric division |url=https://www.moneycontrol.com/news/business/startup/ola-to-shut-dash-its-quick-commerce-business-and-merge-cars-unit-with-electric-division-8737151.html |access-date=27 June 2022 |work=Moneycontrol |language=en}}</ref> | |||
===Ola Cars=== | |||
In October 2021, Ola launched its new and pre-owned car marketplace called Ola Cars in 30 cities, which was also expected to sell new vehicles of Ola Electric and other brands.<ref>{{cite news |title=Ola launches Ola Cars platform for buying, selling, financing vehicles |url=https://www.livemint.com/auto-news/ola-launches-new-vehicle-commerce-platform-ola-cars-details-here-11633602867474.html |access-date=11 November 2021 |work=mint |date=7 October 2021 |language=en}}</ref><ref>{{cite news |title=Ola Cars eyes $2 billion in GMV in 12 months, to hire 10,000 people |url=https://economictimes.indiatimes.com/industry/auto/auto-news/ola-cars-eyes-2-billion-in-gmv-in-12-months-to-hire-10000-people/articleshow/87186692.cms |access-date=11 November 2021 |work=The Economic Times}}</ref> By May 2022, the company had scaled down operations to 17 cities.<ref>{{cite news |last1=Soni |first1=Yatti |title=Ola Cars to shutdown operations in five cities |url=https://www.thehindubusinessline.com/companies/ola-cars-to-shutdown-operations-in-five-cities/article65388339.ece |access-date=27 June 2022 |work=www.thehindubusinessline.com |date=6 May 2022 |language=en}}</ref> In June 2022, it closed Ola Cars across all cities and stated that Ola Cars' "infrastructure, technology and capabilities will now be repurposed towards growing Ola Electric’s sales and service network."<ref>{{cite news |last1=Ahluwali |first1=Prachi |title=Ola shuts down its used car business to invest in electric vehicles |url=https://timesofindia.indiatimes.com/auto/news/ola-shuts-down-its-used-car-business-to-invest-in-electric-vehicles/articleshow/92491000.cms |access-date=27 June 2022 |work=The Times of India |date=27 June 2022 |language=en}}</ref> | |||
==Financial== | |||
{| class="wikitable" | |||
!Year | |||
!Revenue (In crores) | |||
!Profits/Loss (In crores) | |||
!Source | |||
|- | |||
|FY 2017 | |||
|{{Increase}} 1,177 | |||
|{{Decrease}} {{color|red|-4,898}} | |||
| rowspan="3" |<ref>{{Cite web |last=Tyagi |first=Gaurav |date=2019-12-01 |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/ |access-date=2022-06-26 |website=Entrackr |language=en-US}}</ref><ref>{{Cite web |date=2019-02-01 |title=Ola lost Rs 1.5 for every rupee earned in FY18 |url=https://www.techcircle.in/2019/02/01/in-fy18-ola-lost-rs-1-5-for-every-rupee-earned |access-date=2022-06-26 |website=Techcircle |language=en-US}}</ref> | |||
|- | |||
|FY 2018 | |||
|{{Increase}} 1,847 | |||
|{{Increase}} {{color|red|-2,843}} | |||
|- | |||
|FY 2019 | |||
|{{Increase}} 2,543 | |||
|{{Increase}} {{color|red|-2,593}} | |||
|- | |||
|FY 2020 | |||
|{{Increase}} 2,721 | |||
|{{Increase}} {{color|red|-2,213}} | |||
| rowspan="2" |<ref>{{Cite web |date=2021-11-02 |title=IPO-bound Ola's revenue drops by 62% in FY21 as COVID-19 hits mobility biz |url=https://www.businesstoday.in/latest/story/ipo-bound-olas-revenue-drops-by-62-in-fy21-as-covid-19-hits-mobility-biz-311180-2021-11-02 |access-date=2022-06-26 |website=Business Today |language=en}}</ref><ref>{{Cite web |last1=Vardhan |first1=Jai |last2=Tyagi |first2=Gaurav |date=2021-11-03 |title=Ola's losses accumulate to Rs 17,453 Cr as revenue shrinks 63% in FY21 |url=https://entrackr.com/2021/11/ola-losses-accumulate-to-rs-17453-cr-as-revenue-shrinks-63-in-fy21/ |access-date=2022-06-26 |website=Entrackr |language=en-US}}</ref> | |||
|- | |||
|FY 2021 | |||
|{{Decrease}} 1,039 | |||
|{{Increase}} {{color|red|-839}} | |||
|} | |||
==Criticism== | ==Criticism== | ||
| Line 99: | Line 141: | ||
* Distance fare (charged per kilometre) | * Distance fare (charged per kilometre) | ||
* Ride time fare (charged per time taken to travel) | * 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> | * 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|date=10 March 2015 }}</ref> | ||
*[[Goods and Services Tax (India)|GST]] (5%) | *[[Goods and Services Tax (India)|GST]] (5%) | ||
* Toll charges (toll collection if crossing a toll junction) | * Toll charges (toll collection if crossing a toll junction) | ||
| Line 134: | Line 176: | ||
[[Category:Indian companies established in 2010]] | [[Category:Indian companies established in 2010]] | ||
[[Category:2010 establishments in Karnataka]] | [[Category:2010 establishments in Karnataka]] | ||
[[Category:Multinational companies headquartered in India]] | |||