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Empty vessels make more noise: Bhavish on MapMyIndia notice to Ola
Inshorts
·
11m ago
Medial
Ola CEO Bhavish Aggarwal commented on MapMyIndia's legal notice to Ola Electric for allegedly copying its data to build Ola Maps and said, "Empty vessels make more noise." "We have sent them a response. They haven't responded to that," he stated. "There is absolute opportunistic randomness in what they have done," he added.
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‘Opportunistic’, Bhavish Aggarwal on MapMyIndia’s legal notice
Entrackr
·
1y ago
Medial
Ola Electric founder Bhavish Aggarwal has responded to the recent controversies surrounding its mapping solution, and the legal notice from MapMyIndia. “It is opportunistic of MapMyIndia; there are opportunistic players everywhere. We will respond to them at the right time,” Aggarwal is quoted as saying by MoneyControl. Earlier this month, the Bengaluru-based firm launched Ola Maps as an alternative to Google Maps. The firm also shifted its operations to its in-house mapping service by transitioning from Google Maps. CE Info Systems, the parent company of MapMyIndia, sent a legal notice to Ola Electric for allegedly copying the former’s data. In the legal notice, MapMyIndia claimed that Ola Electric breached the license agreement. In 2022, Ola Electric onboarded MapMyIndia to offer navigation services for its S1 Pro electric scooter. As per MapMyIndia, Ola was prohibited from co-mingling the licensed product with another similar competing product and indulging in any reverse engineering or making any attempt to extract/ copy the source code from any API of the licensed product or any related software. MapMyIndia alleged that Ola Maps cached, saved its data which is a violation of the licensing agreement signed in 2021. The Delhi-based firm also added that it will initiate appropriate legal action, both civil as well as criminal, against Ola Electric. Ola, however, refuted the allegations made by MapMyIndia. “…We would like to state unequivocally that these allegations are false, malicious and misleading. Ola Electric stands by the integrity of its business practices. We will suitably respond to the notice shortly,” an Ola Electric spokesperson had said. Separately, Ola Electric is also set for the stock market debut on August 2. On the upcoming IPO, Aggarwal said, “We wanted to ensure that the pricing was set at a level that would generate significant excitement among investors.” Last week, media reports suggested that Ola is going to drop down its plan for car production. However, Aggarwal clarified that the firm did not confirm or deny plans to pause car production.
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MapMyIndia accuses Ola Electric of copying data; sends legal notice
Entrackr
·
1y ago
Medial
CE Info Systems, the parent company of MapMyIndia, has sent a legal notice to Ola Electric for allegedly copying the former’s data as the Bhavish Aggarwal-led firm launched its own mapping service in India. In the legal notice, MapMyIndia claimed that Ola Electric breached the license agreement. In 2022, Ola Electric onboarded MapMyIndia to offer navigation services for its S1 Pro electric scooter. As per MapMyIndia, Ola was prohibited from co-mingling the licensed product with another similar competing product and indulging in any reverse engineering or making any attempt to extract/ copy the source code from any API of the licensed product or any related software. Ola Maps cached, saved our data which is a violation of the licensing agreement signed in 2021, asserts MapMyIndia in the notice. The Delhi-based firm also added that it will initiate appropriate legal action, both civil as well as criminal, against Ola Electric. Entrackr has reviewed the notice and reached out to Ola and MapMyIndia for comments. Forbes India reported the development first. Earlier this month, the Bengaluru-based firm launched Ola Maps as an alternative to Google Maps. The firm also shifted its operations to its in-house mapping service by transitioning from Google Maps. As per Aggarwal, this measure is expected to save Rs 100 crore a year his company. In response to Ola Maps’ free offerings, Google also slashed the pricing of Google Maps platform for developers in India by as much as 70%. The tech giant also said that it will give a 90% discount to developers working with the Open Network for Digital Commerce (ONDC). MapMyIndia was listed on the stock exchange in December 2021. The company reported a 35% surge in its net profit to Rs 38.2 crore in the last quarter of FY24 with an operating revenue of Rs 106 crore. Ola Electric is also set for the stock market debut on August 2.
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A Long Road For Ola Maps: Can Bhavish Aggarwal Dethrone Google Maps, MapmyIndia?
Inc42
·
1y ago
Medial
Ola founder and CEO Bhavish Aggarwal is keen on spinning off Ola Maps as a separate entity, with hopes of creating another unicorn. Ola had announced the launch of Ola Maps for developers, signaling a move away from Google Maps. Sources suggest that Ola is aiming to build a mapping platform that can compete with Google, Apple, and MapmyIndia. However, building a comprehensive mapping platform is a complex task, requiring significant resources and maintenance. Ola Maps aims to become a super app, incorporating various verticals and services.
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Ola Maps a gimmick, people should be careful of fly-by-night products: MapmyIndia CEO
Economic Times
·
11m ago
Medial
MapmyIndia, a digital navigation company, has disputed claims by ANI Technologies, the parent company of Ola, regarding the development of a navigational map of India. MapmyIndia's CEO, Rohan Verma, called Ola's announcement a gimmick and questioned the credibility and quality of Ola's map products, citing complaints from users. Ola responded by refuting MapmyIndia's statements and stating that they will defend their business interests. MapmyIndia had sent a legal notice to Ola for breaching their license agreement. Verma also discussed MapmyIndia's financial performance and plans to expand into international markets.
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CCPA Serves Show Cause Notice To Ola Electric
Inc42
·
10m ago
Medial
- Ola Electric receives a show cause notice regarding alleged violation of consumer rights and misleading advertisement. - The notice is in relation to unfair trade practices by Ola Electric. - The company has been directed to respond to the show cause notice within 15 days. - Ola Electric's CEO, Bhavish Aggarwal, was involved in a verbal duel with comedian Kunal Kamra over the company's after-sales service. - Ola Electric is being scrutinized for its practices and consumer-related issues.
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MapMyIndia posts Rs 35.8 Cr profits in Q1 FY25
Entrackr
·
11m ago
Medial
CE Info Systems, the parent company of MapMyIndia, has released its financial results for the first quarter of FY25. The firm reported a 5.1% decrease in its quarter-on-quarter revenue when compared to Q4 FY24. MapmyIndia’s revenue from operations declined by 5.1% to Rs 101.5 crore in Q1 FY25 from Rs 107 crore in Q4 FY24. However, its income increased by 13.5% when compared to the first quarter of FY24, its unaudited consolidated quarterly report sourced from NSE shows. Income from digital map data, GPS navigation, location based services and IoT were the primary source of revenue for MapMyIndia in Q1 FY25. The cost of IoT devices, employee benefit and technical services (outsourced) were the major cost elements, which pushed total cost of the firm to Rs 63.9 crore in Q1 FY25 against Rs 72 crore in Q4 FY24. With the depletion in scale, MapmyIndia recorded a 6.25% decrease in its profit to Rs 35.86 crore during Q1 FY25 as compared to Rs 38.25 crore in the last quarter of previous fiscal year (Q4 FY24). The Delhi-based firm estimated its revenue would touch Rs 1,00 crore in FY 27-28. MapMyIndia is currently trading at Rs 2,309 per shares (as of 04.24PM) with a market capitalization of Rs 12,485 crore ($1.5 billion) MapMyIndia recently sent legal notice to Ola Electric for copying its data as the EV scooter firm launched its own mapping service. The firm claimed that Ola Electric breached the license agreement, which was signed in October 2022. In a response to allegations, Ola founder Bhavish Aggarwal labeled it as an opportunistic move.
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Invest in supply chains, tech: Bhavish on 'cute ads' by EV firms
Inshorts
·
1y ago
Medial
Ola CEO Bhavish Aggarwal has advised EV makers to focus more on supply chains than marketing. "I see some EV companies trying to make 'cute' ads...to grow their stagnant sales," he said. "Electric vehicles is a supply chain and manufacturing business. Save the marketing and sales rupees and invest them into supply chains and tech," he added.
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Not expanding capacity fast caused Ola Electric's service backlogs: Bhavish
Inshorts
·
8m ago
Medial
Ola Electric CEO Bhavish Aggarwal said the firm faced "temporary increase in service outstanding backlogs" because it had not expanded capacity fast enough in last six-eight months. The CCPA in October had issued a notice to Ola Electric for consumer rights violation, misleading advertisement and unfair trade practices after comedian Kunal Kamra and many customers criticised its customer service.
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Ola Electric slapped with show cause notice over consumer complaints and service deficiencies
Economic Times
·
10m ago
Medial
1. The Central Consumer Protection Authority (CCPA) has issued a showcause notice to Ola Electric, citing violations of the Consumer Protection Act. 2. The National Consumer Helpline has recorded over 10,000 complaints against Ola e-scooters, including issues related to service delays, delivery delays, and unfulfilled promised services. 3. Complaints against Ola Electric include allegations of manufacturing defects, sales of second-hand vehicles, incomplete refunds, recurring issues post-servicing, overcharging, inaccurate billing, and multiple battery and component problems. 4. Nidhi Khare, Secretary of the Department of Consumer Affairs, expressed concern over the large number of complaints and called for prompt resolution from Ola Electric. 5. Ola Electric's stock price has declined by nearly 9% following the showcause notice, and public criticism has been observed, including a dispute between comedian Kunal Kamra and Ola founder Bhavish Aggarwal. 6. Ola Electric reported a consolidated net loss of INR 347 crore in the first quarter of fiscal year 2025, despite a year-on-year growth in revenue from operations.
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VIDEO: Bhavish Aggarwal mocked as Ola Scooter catches fire in Bengaluru, netizens say ‘latest firecracker in the market’
Livemint
·
9m ago
Medial
Ola CEO Bhavish Aggarwal is facing criticism after a video of an Ola Electric scooter catching fire went viral. The incident occurred outside an Ola Electric showroom in Bengaluru, and social media users mocked the incident as a Diwali gift from the CEO. Ola has been in the news for customer care issues and was recently issued a show-cause notice by the Central Consumer Protection Authority for misleading advertisements and violation of consumer rights. Ola claims that 99% of customer complaints have been resolved. Stand-up comedian Kunal Kamra also confronted Aggarwal about these issues.
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