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Olacab ppt


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its short description about the trending cab booking app named ola cab

Published in: Technology

Olacab ppt

  1. 1. OlaCabs, popularly known as ola, is a mobile app for personal transportation in India. Ola started as an online cab aggregator in Mumbai, now based out of Bangalore and is among the fastest growing businesses in India. It was founded on 3 December 2010 by Bhavish Aggarwal (currently CEO) and Ankit Bhati. By 2014, the company has expanded to a network of more than 200,000 cars across 85 cities. In November 2014, Ola expanded to incorporate autos on-trial basis in Bengaluru. Post the trial phase, Ola Auto expanded to other cities like Delhi, Pune and Chennai starting December 2014.
  2. 2.  Ola provides different types of cab service ranging from economic to luxury travel . The cabs are reserved through a web browser or a mobile app.  This cab service supports both cash and cashless payment options with Ola money.  It claims to clock an average of more than 150,000 bookings per day and commands 60 percent of the market share in India.
  3. 3. It raised $330k in its initial round of funding on April 21, 2011. The company received Series A funding of $5 million from Tiger Global Management; Series B funding of USD 20 million from Matrix Partners and Tiger Global; Series C funding of $41.5 million from Stead view Capital, Sequoia Capital and its existing investors. In Series D round of funding on Oct 25, 2014, it raised $210 million from Soft Bank Internet and Media Inc. and its existing investors.
  4. 4. OlaCabs bought TaxiForSure or TFS on 1 March 2015, for about $200 million. From the 25th of June 2015, Ola users have gained access to TFS cabs via the Ola mobile application.
  5. 5. Ola Cabs has tied up with Avanti Learning Centers for a good cause. The drivers who are associated with Ola can get their children studying in the ninth and tenth standard to the learning center and avail free education. Ola Gurukul will start off with a batch of 500 students in Mumbai. The initiative will be extended to provide free stationary, books and other apparatus for the top performing students. The student’s program will be held after school so that the students get the much needed attention while also saving on tuition classes costs.
  6. 6. Technology: Ola Cabs' technology came under criticism regarding the security of its mobile app. The API calls could be replayed to top up its wallet. Ola Cabs fixed the glitch much before this came out in the open. In August 2015, a privacy breach had occurred when intended customers' details such as names, phone numbers and addresses, in Bengaluru, were received as SMS messages by an individual in Chennai. Although these unanticipated messages were reported to Ola, the company had chosen to ignore them, even under the threat of being reported to the TRAI. The issue was reportedly fixed three weeks later after receiving considerable media coverage and social media attention.
  7. 7. Over billing and transparency in billing: The refund policy of Ola Cabs has been criticized because of billing errors caused by technical glitches in their system. Hackers have claimed that they have been able to hack Ola Cabs system and access customer data including credit card/debit card information. Ola Cabs have categorically denied that their system was hacked.
  8. 8. Driver Credibility : The Delhi Transport authority in early 2015 questioned the credibility and required verification of drivers plying Ola cabs, along with other competitors like Uber and Taxi For Sure. The inquiry has revealed that approximately 80% of drivers amongst all services did not possess permits to ply commercial transport services in Delhi.[
  9. 9. CREATED BY: Shradha Panchal Swapnali Desai Nutan Powar