Cab Aggregator Giant Ola competes to Grasp Dubai’s posh market and Southern America
Ola wants to swoop into as much as 50 global cities by 2019
Ola’s world growth began with Australia earlier this year
Ola’s major rival, Uber, has been in the Dutch market and is using Amsterdam
OLA is one of India’s most well-funded tech start-up application. Founded in December 2010 by a pair of IIT Bombay graduates, Bhavish Aggarwal, and Ankit Bhati. Bhavish Aggarwal is a former Microsoft member, he was part of it for almost two years after graduation. Soon Bhavesh quit Microsoft to start an online company and sell short duration tours and holiday packages. In 2010, Bhavish teamed up with Ankit Bhati started OLA Cabs in Mumbai and is now situated in Bangalore. Ola operates available in major cities such as Mumbai, Delhi, Pune, Chennai, Hyderabad, and 180+ cities. Last year, Ola reached to the overseas market and launched it in Australia, New Zealand, and the United Kingdom.
Ola wants to swoop into as much as 50 global cities by 2019, with the main target on elegant European and Gulf markets. The firm’s world growth began with Australia earlier this year, which followed its arrival in the United Kingdom and New Zealand. The upcoming destination is Amsterdam, Netherlands. The capital city is a key location for serving to the markets in Central, Northern and Eastern Europe and even North Africa.
To fulfil its development goals, the firm is pursuing more funds. Currently, The company’s major shareholders are Japanese multinational SoftBank Group Corp. 26.1%, International private equity investor Tiger Global 15.94%, Multinational conglomerate company Tencent 10.39%, US-based private equity investment firm Matrix Partners 8.57%, and Yuri Milner’s DST Global 6.72%.
Ola’s major rival, Uber, has been in the Dutch market and is using Amsterdam as its key location for exercises across the European nations. However, these countries have a well-organized transportation system, the cab services at competitive matters could give Ola a crucial push in its foreign growth. SoftBank is a major shareholder in both Ola and Uber. Aside from Uber and Ola will challenge with Taxify, which is HQ in the Northern European country Estonia. Taxify is one of Europe’s main transportation ride-sharing application and is active in 25 countries.
Ola is also competing for grasping in Dubai’s posh market and Southern America, following that plan for Dubai operations are at a much higher stage. Its rival Uber is already building its existence across the Gulf country, where it is targeting to acquire its Dubai-based competitor Careem Networks FZ.
Though Ola has a strong presence across India — with users across over 110 cities of India and 10 lakh driver-partners — it is Uber that rules most of 600 plus cities across the world. Though SoftBank wants Ola to merge with Uber, Ola is hunting for a bigger investor who could buyout SoftBank’s 26 per cent share in the company.
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