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‘Opportunistic’, Bhavish Aggarwal on MapMyIndia’s legal notice

EntrackrEntrackr · 1y ago
‘Opportunistic’, Bhavish Aggarwal on MapMyIndia’s legal notice
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.

MapMyIndia accuses Ola Electric of copying data; sends legal notice

EntrackrEntrackr · 1y ago
MapMyIndia accuses Ola Electric of copying data; sends legal notice
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.

MapMyIndia posts Rs 35.8 Cr profits in Q1 FY25

EntrackrEntrackr · 1y ago
MapMyIndia posts Rs 35.8 Cr profits in Q1 FY25
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.

Ola Electric slapped with show cause notice over consumer complaints and service deficiencies

Economic TimesEconomic Times · 10m ago
Ola Electric slapped with show cause notice over consumer complaints and service deficiencies
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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