Ola Cabs is an online cab aggregator founded in 2010 in Mumbai and now based in Bangalore. It has expanded to over 200,000 cars across 85 cities in India. Ola has acquired competitors like Taxi for Sure and received $676.8 million in funding from investors. The company plans to aggressively expand by targeting one million driver partners within three years and investing in its technology platform. Consumer research found that while 10% had unfavorable experiences, 70% have heard of Ola and 40% prefer it over competitor Uber.
Ola Cabs is an online cab aggregator founded in 2010 in Mumbai and now based in Bangalore. It has expanded to over 200,000 cars across 85 cities in India. Ola has acquired competitors like Taxi for Sure and received $676.8 million in funding from investors. The company plans to aggressively expand by targeting one million driver partners within three years and investing in its technology platform. Consumer research found that while 10% had unfavorable experiences, 70% have heard of Ola and 40% prefer it over competitor Uber.
Ola Cabs is an online cab aggregator founded in 2010 in Mumbai and now based in Bangalore. It has expanded to over 200,000 cars across 85 cities in India. Ola has acquired competitors like Taxi for Sure and received $676.8 million in funding from investors. The company plans to aggressively expand by targeting one million driver partners within three years and investing in its technology platform. Consumer research found that while 10% had unfavorable experiences, 70% have heard of Ola and 40% prefer it over competitor Uber.
Started in Mumbai, now based out of Bangalore and is among the fastest growing businesses in India. Founded on 3 December 2010 by Bhavish aggarwal (CEO) and Ankit bhati (CTO). Expanded to a network of more than 200000 cars across 85 cities. Expanded to incorporate autos in Bangalore. COMPETITORS
Uber Meru cabs Taxi for sure Easy cabs Unorganized players( Auto Rickshaws/taxis) ACQUISITIONS AND FUNDING
1. Acquisitions- taxi for sure acquired by Ola on march 2,
2015 for $200 million in cash and stocks. 2. Funding received $676.8 million in 6 rounds from 16 investors. 3. It raised $330 k in its initial round of funding on April 21, 2011. EXPANSIONS PLANS OF OLA CABS • Revenues of Ola cabs have grown more than 10 times over the past 4 years. • Ola cabs has lined up aggressive expansion plans after the funding round from soft bank. It is targeting to have on board a million driver partners in three years. • It also plans to further invest in its technology platform to provide a better experience to customers as well as expand its footprint to smaller cities. MARKETING STRATEGY FOR OLA Search engine marketing ( Google, yahoo, bing). Newspaper Ads. TV Ads Give Ola T-Shirts Do advertising in big events like (IPL, World cup) Email Marketing Free rides for new users Ola cash Apps advertisement Provide festival discount Affiliate Marketing CONSUMER RESEARCH 10% had an 70% people have unfavorable heard of Ola experience