We have all at one time or another been in a situation where we could not rely on public transport and neither did we have a personal vehicle, maybe to be at the airport early in the morning or after clubbing at midnight, or in-case of any emergency. At such times cab services have saved us. One cab service providerthat has been our commute companion for years is Ola Cabs. The man heading this affordable, efficient, and revolutionary business is Bhavish Aggarwal, co-founder and CEO of Ola.
Bhavish Aggarwal’s early life and education
Bhavish was born in Ludhiana, Punjab, and completed his B.Tech from IIT, Bombay. He began his corporate career by joining Microsoft in 2007 as a Research Intern and was absorbed by the company as an Assistant Researcher in 2008. After working as an employee for more than two years, Bhavish wanted to start something that he could call his own so in 2010 he co-founded Ola Cabs and has been serving as the CEO.
Bhavish Aggarwal’s career
SoftBank Group Corp and Tiger Global Management are among the primary investors in the company. Ola Electrics, a new entrant in the EV industry, now controls 38% of the market. According to data from the Society of Manufacturers of Electric Vehicles, it has sold more than 239,000 electric scooters since December 2021 according to reports by Mint.
Bhavish Aggarwal also plans to grow his business by releasing a bicycle by the end of 2023 and a battery-powered automobile in 2024. The company will ship scoters to Southeast Asia, Latin America, and Europe.
According to India Times report, Ola interacts with taxi drivers and owners rather than owning and leasing its own vehicles, giving the procedure a modern touch. Users can quickly book taxis using the Ola app. The Ola ride-hailing app has a market share of about 60% in India (as of 2014).
Ola Cabs has been growing and Bhavish’s contribution cannot be overlooked. The launch of Ola Electric bikes will set a milestone for the company. In a Bloomberg interview, the CEO said, “Now I can feel that it will be much earlier. Ola Electric has grown and matured faster than I had initially planned because the market response has been very strong,”
According to Bloomberg News, Ola Cabs got as far as picking banks for a $1 billion IPO in Mumbai in August 2021, but that never happened. At present, Ola is currently worth $3.5 billion as per Vanguard reports.
Bhavish Aggarwal’s family
In his personal life, he started dating Rajalakshmi in 2007, and they eventually tied the knot. In2018, he was selected TIME magazine’s 100 most influential people in the world and he walked the red carpet with his wife.
