Ola

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OLA – World’s Largest Cab Booking & Ride Sharing Company

OLA is one of the world's largest ride sharing company. OLA founded in 2010 by Bhavish Aggarwal and Ankit Bhati. OLA owned by ANI technologies Pvt. Ltd. Formally known as OLAcabs. Ola deals mainly integration of city transportation for customers and driver partners onto a mobile technology platform ensuring convenient, transparent, and quick service fulfillment. OLA offers mainly on leveraging the best of technology and building innovative solutions ground-up, are relevant at global score. In 2014, OLA started on-demand auto rickshaw service on its mobile app. OLA name has been derived from a spanish word – Hola means Hello.

OLA's GPS enabled mobile app for the driver which helps drivers to receive booking requests from customers in the vicinity and navigate to the customer's pickup point with utmost ease manner.

CATEGORIES:

OLA offers three types of product lines.

  • OLA Mini
  • OLA Sedan
  • OLA Prime

OLA Mini:

OLA offers OLA Mini which provides most affordable personal transportation option in the city and its fleet include hatchbacks like Tata Indica and Nissan Micra amongst others.

OLA Sedan:

OLA offers OLA Sedan is aimed at a regular city traveler looking for a spacious car and comfortable drive and is currently available across all 12 cities where OLA deals cars like Suzuki Dzire, Mahindra Vertio and Toyota Etios.

OLA Prime:

OLA offers OLA Prime which is a business class experience and OLA offers cars includes Toyota Innova, Altos, Skoda Rapid and Honda Civic in this product line.

OLA BUSINESS MODEL:

OLA deals both customers and drivers through their intelligent app for bookings and takes a commission of about 15% on all the booking done through the app. Users are charged for the following elements of OLA cabs. Those are,

  • Basic Fare
  • Distance Fare
  • Ride Time Fare
  • Peak Pricing
  • Service Tax
  • Swaach bharat tax
  • Toll charges [In case you cross the Toll junctions]

OLA PINK:

OLA offers a one another product named OLA pink which deals empowered girl drivers keeping into consideration the safety concern in the mind of girl customers. These cabs are driven by women drivers and will only allow female passengers to board them. This service is currently available only in Bangalore. The same can be extended to other cities in near future.

SWOT ANALYSIS:

SWOT means Strength, Weakness, Opportunity, Threats.

Strength:

  • Acquisition of taxi for sure
  • Top of the mind service
  • First mover advantage
  • High awareness due to aggressive TV, online and print media marketing
  • Rapid expansion and online application
  • Huge customer base and due to network effect is raised.
  • OLA offers competitive and user-friendly app.

Weakness:

  • OLA deals huge amount of demand, which burns high amount of cash, and monetization is very difficult.

Opportunity:

  • Increasing the smart phone users
  • Rising disposable income
  • Acquisition of small players
  • Unorganized market is huge.

Threats:

  • OLA deals rising Competition
  • Presence of many national players

STRATEGIES OF OLA:

  • In low investments, Partnership with private taxi owners
  • OLA uses APP services
  • OLA offers variety of benefits for drivers.
  • OLA offers variety of payment options including OLA wallet
  • OLA offers manageable pricing even at night
  • OLA McCafe
  • OLA offers Free rides and discount coupons
  • Provide festival coupons
  • Affiliate marketing
  • Strong social media optimizations
  • OLA wallets can also be used on other platforms like OYO rooms, Lens kart and Saavan.

OLA SERVICES:

OLA offers a different type of services, ranging from economic to luxury travels. OLA enables their users to book cabs through mobile App and the service accepts both cash and cashless payments including OLA money (Prepaid/Postpaid). OLA's services are:

  • OLA Share
  • OLA Micro
  • OLA Mini
  • OLA Prime
  • OLA auto
  • OLA Rentals
  • OLA Outstations
  • OLA Lux
  • OLA Bike
  • OLA Pedal – [ Dockless bicycle – sharing system available at IIT Kanpur].

AWARDS AND ACHEVEMENTS:

  • In 2013, Won the 3rd digital India award for the best start-up of the year.
  • IAMAI awarded OLA as “Best start-up of the year”
  • OLA received “HATT awards”.

VISION OF OLA:

OLA cabs provide hassle free, reliable and technology efficient car rental service to Indians is the vision of OLA.

MISSION OF OLA:

Mission of OLA is to provide marketplace for all types of car and cab on rental basis.

CUSTOMER CARE SUPPORT:

OLA offers 24*7 customer care executive center for clarifying all doubts of customers regarding, booking of cabs, cancellation of booking, payment confirmations, pick up and drop points, driver related issues etc.

  • To reach the OLA customer care executives: 080 67350900
  • Queries related to booking cabs: support.au@olacabs.com
  • Queries related to security issues: security@olacabs.com
  • Ola Cabs website: www.olacabs.com

OLA Cabs - In short

Founded 2010
Founders Bhavish Agarwal and Ankit Bhati
Headquarter Bangalore
Sector Transportation
Customers More than 9,00,000
Cities Covered More than 110
Drivers More than 10,00,000
Employees More than 8000