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  1. Ola cabs: All you wanted to know in just 5 points, plus more

Ola cabs: All you wanted to know in just 5 points, plus more

Mumbai based Ola cabs, mobile phone app provider for personal transportation, has been on a roll in India for quite some time, going from strength to strength across a number of parameters. It has also not been laid low by any major controversy either. here are top 5 noteworthy points about Ola cabs plus a recent happening:

By: | Updated: November 26, 2015 1:55 PM

Mumbai based Ola cabs, mobile phone app provider for personal transportation, has been on a roll in India for quite some time, going from strength to strength across a number of parameters. It has also not been laid low by any major controversy either. Here are top 5 noteworthy points about Ola cabs plus a recent happening:

1. Ola cabs boasts a million bookings a day and 350,000 cars on its rolls

2. Ola operates in 102 cities across the country, offering cab services with incentives.

3. On November 18, Ola Cabs raised $500 million (Rs 3,306 crore) to fund its expansion plans, including capacity building.

4. With the latest sixth round funding, Ola cabs has cumulatively raised $1.3 billion. Tiger Global, Matrix Partners, Steadview Capital, Sequoia India, Accel Partners US and Falcon Edge were among its early investors.

5. Ola acquired Bengaluru-based cab aggregator TaxiForSure for $200 million (Rs 1,238 crore) in a cash and equity deal in March, 2015.

And finally, on Thursday, Ola cabs announced a major coup, saying that one of former Infosys top honchos, Rajiv Bansal, has joined it and will be its new chief financial officer (CFO) from January, 2016.

Rajiv Bansal, had resigned from software major Infosys Ltd on October 9, will continue to be advisor to its CEO Vishal Sikka till December 31, 2015. Clearly, Ola cabs is looking for a major booster shot from Rajiv Bansal in the near future.

“Rajiv Bansal will be a part of our core leadership team after he joins us in January. Our current CFO, Mitesh Shah, will lead strategic finance initiatives as part of Bansal’s team,” Ola chief executive Bhavish Aggarwal said in a statement here.

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