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News on Medial
Ola Cabs launches loyalty programme,
YourStory
·
11m ago
Medial
Ola Cabs has introduced a loyalty program called Ola Coin and relaunched its ride-sharing service on its platform in an effort to boost its cab business amidst competition. The company also plans to focus on commerce and consumer services and has rebranded as Ola Consumer. Ola Coin will reward users for transactions made on the Ola platform. Additionally, Ola Consumer aims to establish tech-enabled warehouses and fulfillment centers to streamline logistics operations. The company also plans to expand its Ola food and grocery delivery service, ONDC, and introduce more categories.
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Ola Electric has sent a strong response to MapMyIndia, says Bhavish Aggarwal
YourStory
·
11m ago
Medial
Ola Electric has responded to MapMyIndia's accusations of data misappropriation as "opportunistic." Ola CEO Bhavish Aggarwal stated that MapMyIndia's claims were strategically timed around Ola Electric's IPO. Aggarwal dismissed the allegations, as Ola Electric is not in the mapping business. Last month, CE Info Systems, MapMyIndia's parent company, accused Ola of illegally copying data from one of its clients. In other news, Ola Cabs has rebranded as Ola Consumer, launched a loyalty program called Ola Coin, and reintroduced ride-sharing services to enhance its position in the competitive ride-hailing market.
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Newly rebranded Ola Consumer resumes cab share rides
YourStory
·
10m ago
Medial
Ola Consumer has reintroduced its ride-sharing feature on the Ola app, aiming to compete with rivals Uber and Rapido. The move was announced by Ola Co-founder Bhavish Aggarwal during the company's annual product launch event. Additionally, Ola Cabs will now be known as Ola Consumer, and a new loyalty program called Ola Coin has been introduced. The ride-sharing feature was suspended in 2020 due to the COVID-19 pandemic. Ola Electric, the company's electric vehicle manufacturing arm, recently listed on Indian stock exchanges and is set to launch new motorbike models.
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Ola Cabs Rebranded To Ola Consumer; Ride-Sharing Service Ola Share Relaunched
Inc42
·
11m ago
Medial
Ola Cabs CEO and founder Bhavish Aggarwal has announced the rebranding of Ola Cabs to Ola Consumer during Ola Electric's annual event 'Sankalp'. The new entity, Ola Consumer, aims to provide a range of consumer services to enhance the accessibility, affordability, and efficiency of e-commerce.
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Exclusive: Nine Months After Joining, Ola Consumer’s CBO Sidharth Shakdher Quits
Inc42
·
9m ago
Medial
Shakdher, who was previously associated with Ola Cabs, has resigned to pursue his own endeavors. According to sources, he will be leaving the company in two weeks. Ola Consumer, the rebranded version of Ola Cabs, will soon be announcing a new Chief Business Officer.
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Ola Cabs brings back Ankush Aggarwal to its ride-hailing biz
Economic Times
·
1y ago
Medial
Ankush Aggarwal, the brother of Ola Cabs founder Bhavish Aggarwal, has returned to the ride-hailing business after being involved with Ola Electric Mobility. As part of the senior leadership team at Ola Cabs, Ankush will serve as the CEO of Ola Financial Services. This move follows the exit of CEO Hemant Bakshi, and Bhavish Aggarwal is expected to take a more active role in leading the business towards profitability. Ola Cabs parent company ANI Technologies reported a loss of Rs 1,082 crore in FY23. The reshuffling comes amidst increased competition from rivals in the ride-hailing market.
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Another Top-Level Exit At Ola: Now, CFO Karthik Gupta Resigns Within Seven Months
Inc42
·
1y ago
Medial
Ola Cabs, the ride-hailing major, is going through a restructuring exercise ahead of its IPO. Chief Financial Officer Karthik Gupta has resigned, joining a growing list of high-level exits at the company. The departure is part of the company's efforts to strengthen cost structures and increase profitability. Ola Cabs recently laid off around 200 employees, and CEO Bhavish Aggarwal stated that the focus would be on AI and technology. Ola Cabs aims to raise $500 million through its IPO, with plans to file the draft red herring prospectus with SEBI within three months.
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Why Ola’s Path To Green Mobility Is Full Of Twists And Turns
Inc42
·
1y ago
Medial
Ola Cabs, a major ride-hailing company in India, has been slow to make progress in transitioning to electric mobility and has faced increased competition in the EV segment. While Ola Electric, a subsidiary of Ola Cabs, was established in 2017, the company has yet to achieve any significant milestones in its quest for an electric fleet. In contrast, competitors like Uber India and other emerging players such as BluSmart and Evera Cabs have already deployed thousands of electric vehicles. Ola's past initiatives, such as "Mission: Electric," have not come to fruition, and the company's current CEO, Hemant Bakshi, has offered limited clarity on its green mobility plans. Nevertheless, Ola aims to expand its electric vehicle offerings beyond two-wheelers to include three-wheelers, cars, and e-buses. However, Ola Electric's timeline for new products may not align with Ola Cabs' ambitions. Ola Electric plans to launch electric auto-rickshaws in the coming months, which could be integrated into Ola Cabs' fleet. The company also intends to enter the electric car market eventually but may need to partner with fleet operators and other original equipment manufacturers in the meantime. Ola's focus on scaling up its electric two-wheeler ride-hailing vertical is driven by the belief that state governments are more likely to favor two-wheelers over traditional internal combustion engines. However, Ola faces competition from established players such as Yulu and Rapido, as well as Uber's emphasis on Uber Moto. Ola still has to overcome challenges such as unit economics and profitability while catching up with existing rivals.
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Ola Cabs CEO Hemant Bakshi resigns; company to layoff 200 employees
Economic Times
·
1y ago
Medial
Ola Cabs CEO Hemant Bakshi is reportedly leaving the company after just three months. The ride-hailing firm is also planning a restructuring that will result in around 200 job cuts. These developments come as Ola prepares to file draft listing papers in the next three months. Ola Electric has already filed draft papers for an IPO, waiting for regulatory approval. Ola Cabs founder Bhavish Agarwal remains the chairman. In January, Bakshi announced that ANI Technologies, the parent company, had turned profitable with a growth in revenue.
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Two weeks after CEO exit, Ola Cabs CFO Kartik Gupta also steps down
Economic Times
·
1y ago
Medial
Kartik Gupta, the CFO of Ola Cabs, has left the company as part of an ongoing restructuring. This follows the departure of CEO Hemant Bakshi just a couple of weeks ago. Ola is restructuring to strengthen its cost structures, focus on growth, and improve its bottom line. Gupta joined Ola Cabs in November last year after almost two decades at Procter & Gamble. Founder Bhavish Aggarwal has taken over as CEO and is working towards turning the company profitable. Ola has also exited international markets and laid off employees recently.
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Ola founder Bhavish Aggarwal's Krutrim launches ChatGPT rival in beta mode
Economic Times
·
1y ago
Medial
Krutrim Si Designs, an AI startup founded by Bhavish Aggarwal, the founder of Ola Cabs and Ola Electric, has launched its first product in beta mode. The product, called Krutrim Assistant, is a chatbot website that functions as a personal generative AI assistant and supports over 10 languages. Competing against ChatGPT, Llama, and Gemini, Krutrim Assistant aims to provide efficient multilingual support through modifications to its architecture. The chatbot is accessible via chat.olakrutrim.com and is expected to improve over time based on user feedback. Krutrim plans to release a more advanced version, Krutrim Pro, in the upcoming quarter.
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