In 2016-17, Ola had a loss of Rs 4,897.8 crore but its total income had increased by 70 per cent.
In July this year, Ola crossed major milestones by making money offers with every cab ride.
This is a significant achievement as companies were losing Rs 100-200 per ride in the battle
to woo riders in 2015-16. Agarwal is originally from Ludhiana. Grew up in Afghanistan and the
UK. Prepared in Kota and studied in Computer Science from IIT Bombay. He briefly worked at
Microsoft and started the website Olatrips.com, along with his Indian friend Ankit Bhati, who
hails from Jodhpur, who used to provide cabs for out station trips.
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Bhavish Aggarwal |
When Bhavish Aggarwal put the business model in front of the family, he did not understand. He
wondered why the boy who is working for a rest at Microsoft is bent on becoming a travel agent!
The use of Bhavish finally got the green signal from the families. Started in 2011 from One BHK
Flat office in Pobai, Mumbai. Initially there were many problems, also used the girlfriend's car in
the business, which is now his wife. Later launched the smartphone app. Investors also gathered
and when Tiger Global Management received an investment of five million dollars in 2012, the
business got wings to take success to the sky.
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