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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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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
·
11m 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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Exclusive: Nine Months After Joining, Ola Consumer’s CBO Sidharth Shakdher Quits
Inc42
·
10m 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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Rapido To Fully Electrifying Its Delhi’s Bike Taxi Fleet By Next Year
Inc42
·
10m ago
Medial
Rapido has formed partnerships with OEMs and fleet operators, including Zypp Electric and Gogoro, to support the Delhi government's objective of electrifying all bike taxis by 2030. This move comes as a response to the significant pollution issue in the city. Ola Cabs also recently relaunched its bike taxi service in Bengaluru, utilizing electric scooters.
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Exclusive: Ola Consumer Sets The IPO Ball Rolling, Turns Into A Public Company
Inc42
·
8m ago
Medial
ANI Technologies Pvt Ltd, the parent company of Ola Consumer, has received shareholder approval to change its name to ANI Technologies Ltd. The decision was made in order to prepare for a future public offering. Ola Consumer, previously known as Ola Cabs, underwent a name change in August as part of its efforts to expand into new verticals beyond ride-hailing.
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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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Vanguard values Ola at $1.25 Bn
Entrackr
·
2m ago
Medial
US-based asset management company Vanguard has marked down Ola’s valuation to $1.25 billion, according to a SEC filing in the US. This represents more than an 80% drop from its peak valuation of $7.3 billion in 2021. In February 2024, Vanguard had valued the Bhavish Aggarwal-led company at less than $2 billion ($1.88 billion) for the first time. However, it later revalued the company at around $2 billion in November last year. This development comes as Ola continues its push toward a public listing, even as it loses ground in the ride-hailing space (cabs, autos, and bikes). Rapido has emerged as the market leader, followed by Uber, with Ola now relegated to third place. In August last year, CEO Bhavish Aggarwal announced that Ola Cabs would be rebranded as Ola Consumer, consolidating its financial services, cloud kitchens, and electric logistics under one umbrella. Although Ola converted into a public entity in November 2024 and has been evaluating IPO options since November last year, it has yet to make concrete moves toward a listing. Analysts suggest that Ola is likely to delay its IPO plans by at least six months, citing unfavorable market conditions—especially in light of the declining market cap and share price of Ola Electric. During FY24, Ola’s operating revenue declined by 5.5% to Rs 2,012 crore, down from Rs 2,128 crore in FY23. However, the company narrowed its losses significantly to Rs 10 crore in FY24, compared to Rs 623 crore in the previous fiscal year. The Bengaluru-based firm also turned EBITDA profitable in FY24. Meanwhile, its rival Rapido reached unicorn status last year after raising $200 million at a valuation of $1.1 billion. The Swiggy-backed company also surpassed Ola in terms of combined daily rides across bike taxis, autos, and cabs in Q2 FY25. Despite losing market share, Ola’s ride-hailing business remained more than twice the size of Uber’s and 2.5 times that of Rapido in terms of revenue. In FY24, Ola’s ride-hailing income stood at Rs 1,761 crore, compared to Uber’s Rs 807 crore from its mobility operations. Rapido reported Rs 648 crore in revenue for the same period, while managing to cut its losses by 45% to Rs 371 crore. While this valuation downgrade may not have a direct financial impact on Ola, it could weigh on internal morale—especially as the company weighs its public market debut.
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Ola Consumer nears 1 lakh daily orders on ONDC; Bengaluru food delivery at 20% of Swiggy-Zomato's scale: Bhavish Aggarwal
Money Control
·
11m ago
Medial
Ola Consumer, part of the Ola group, is processing around 100,000 orders per day through the Open Network for Digital Commerce (ONDC). ONDC is an open ecosystem that allows businesses like Ola Consumer to offer services such as ride-hailing, food delivery, and hyperlocal logistics. Ola Consumer has experienced significant growth in its food delivery service, with a focus on Bengaluru, and aims to challenge the dominance of competitors like Zomato and Swiggy. Additionally, Ola Consumer plans to expand its quick commerce service and launch automated dark stores.
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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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