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Ola
Ola Cabs is an online cab aggregator founded in 2010 in India that has expanded to over 200,000 cars across 85 cities. It was founded by Bhavish Aggarwal and Ankit Bhati and competes with companies like Uber. Ola has acquired TaxiForSure and raised over $676 million in funding. It utilizes strategies like partnering with taxi owners and providing training to drivers to deliver a quality customer experience across sedan, mini, and prime vehicle options. Ola plans aggressive expansion by targeting one million driver partners within three years and further investments in technology.
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Ola
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- 2. INTRODUCTION • Ola Cabsis an online cab aggregator • Started in Mumbai, now based out of Bangalore and is among the fastest growing businesses in India • Founded on 3 December 2010 by Bhavish Aggarwal (CEO) and Ankit Bhati • Expanded to a network of more than 200,000 cars across 85 cities • Expanded to incorporate autos in Bengaluru 2
- 3. TEAM • Bhavish Aggarwal,Co-Founder and CEO • Ankit Bhati, Co-Founder and CTO 3
- 4. COMPETITORS • Uber • Merucabs • Taxi for sure • Easy cabs • Unorganized players (Auto rickshaws/Taxis) 4
- 5. OFFICE LOCATIONS • Corpoffice- Mumbai • Branch Office: – Delhi – Bengaluru 5
- 6. SWOT Analysis Strength • Firstmover advantage • Acquisition of Taxi For Sure • Top of the mind service • High awareness due to aggressive TV, online and print media marketing • Huge customer base & due to network effect it is increasing • Rapid expansion and online application • Multiple rounds of VC investments 6
- 7. Cont.… Weakness • Drivers misbehavior •While the demand is huge, amount of cash burning is huge and monetization is very difficult Opportunities • Unorganized market is huge • Increasing internet penetration & smart phone users • Rising disposable income • Shifting of consumers towards convenience creates huge demand • Acquisition of smaller players 7
- 8. Cont.… Threats • Rising competition •Uber has deep pocket and hence can burn cash heavily • Presence of many national players • Absence of clear government regulations in developing countries • Future is unclear due to lack of regulations and Customer loyalty is less in this industry 8
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- 11. Acquisitions and Funding •1 Acquisitions- TaxiForSure acquired by Ola on March 2, 2015 for $200Million in cash and stocks • Funding Received - $676.8 Million in 6 Rounds from 16 Investors • It raised $330k in its initial round of funding on April 21, 2011 11
- 12. Cont.… Customer Acquisition Initiatives •Associating with big events happening around metros. • Providing free Ola money and cash backs to promote usage of apps • Offers a wide variety of cab options including a Nano and an Auto option to appeal to various customer categories Driver Acquisition Initiatives • Providing training to drivers in skilled driving, traffic rules, etiquettes. • Encouraging new drivers (who don't have a car), by arranging low interest rates with financiers 12
- 13. Strategies used byOLA • Only App service • Partnership with private taxi owners, hence low investment • Variable benefits for drivers of OLA • Works with leading financial institutions that provide loans to help prospective drivers buy their cars outright • Offers training to ensure drivers are equipped to deliver a quality and safe experience for passengers • Offers three different tiers of car service to suit different budgets: luxury sedan models, mid- range, and its Ola Mini range 13
- 14. Cont.… • Variety ofpayment options for customers- cash and OLA Wallet • Even pricing while travelling at night • Included autos under OLA • OLA McCafe • Free rides and discount coupons • Social Causes • Provided feedback forms to customers • Ola wallets to be used on platforms like Oyo Rooms, Lenskart and Saavan 14
- 15. Components and Downto Specific
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- 19. Description in App. •Ola cabs app offers City Taxi rides on a point to point basis across several cities in India. We are changing the way you move around in your city with a range of cab options to choose from - Sedan, Mini and Prime! How the Ola Cabs app works is really simple: • 1. Set your pickup location (Eg: from Airport, Railway station, Office, Home or your current location) 2. Pick the cab you want and see all available cabs close by 3. Tap "Ride now" to book your ride 4. Get instant confirmation with driver details 5. See your ride en-route on the map 6. Pay only after completion of your ride or use "Ola Money" to ride cash-free! • You want to schedule a pickup for sometime later to catch a flight or train? Just use "Ride later" and plan ahead. You can also invite friends to use our awesome service and earn free Ola Money. • Ola drivers are professionally trained and the cabs have gone through stringent quality checks. 19
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- 22. Expansion Plans ofOla Cabs • Revenues of Ola cabs have grown more than 10 times over the past 4 years • Ola cabs has lined up aggressive expansion plans after the funding round from Soft Bank. It is targeting to have on board a million driver partners in three years • It also plans to further invest in its technology platform to provide a better experience to customers as well as expand its footprint to smaller cities. 22
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