“Failed A Few Times, But Learnt From Them, Still Took Risks” “

If you are in a disruptive industry, businesses don’t scale in a linear way. There comes a moment when you have the right product at the right price point with the right value proposition for enough customers. At that point it will just explode.”

- Prerna Lidhoo

SHARING A RIDE Bhavish Aggarwal

Company ANI Technologies Pvt. Ltd.

Business Ride-hailing

Incorporated 2010

Funding till date $3.8 billion

Scale of business

65% of Ola Cabs’ share of India’s ride-hailing market

2.5 million No. of drivers till date

200-plus No. of cities it operates in India (70-plus cities in international markets)

1 billion No. of customers served; added 10-million first-time users in FY21

Next what?

Flying cars, drones; a car from Ola Electric

AHEAD OF ITS IPO early next year, in August Temasek Holdings and Warburg Pincus invested $500 million in ANI Technologies Pvt. Ltd., the company that runs Ola. The homegrown ride-hailing firm’s 35-year-old founder Bhavish Aggarwal also participated in the round, and currently owns a 7.9% stake in the 11-year-old company, according to research firm Tracxn. Its latest valuation is $6.7 billion, though with the IPO round kicking off, bankers expect it to clock around $15 billion. Aggarwal’s other company, Ola Electric, incorporated in 2017, became a unicorn two years later (currently valued at $1.1 billion), and is backed by Tiger Global, Matrix Partners, and SoftBank. Ola’s direct competition Uber is one of the country’s well-funded start-ups, having raised more than $24 billion in equity to date. Ola currently has a 65% share of the domestic ride-hailing ecosystem. It is working on new mobility solutions such as drones — and even a flying car.

The Idea!