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Ola Consumer: A Pivot to the Domestic Market Ola Consumer, formerly known as Ola Cabs, has significantly reshaped its business strategy. Initially launched as a ride-hailing service, the Bangalore-headquartered company expanded its operations into financial services and cloud kitchens, establishing a presence in over 250 Indian cities. Supported by substantial investments from venture capitalists, including SoftBank, Ola's ambition extended beyond India's borders. The company's international foray began in January 2018 with its entry into the Australian market, followed by New Zealand in September of the same year and the UK in March 2019. However, a strategic shift occurred in April 2024, with Ola announcing its withdrawal from all international markets to concentrate solely on the Indian consumer base. This realignment culminated in August 2024 with the rebranding to Ola Consumer, signaling a clear focus on consolidating its domestic market share and strengthening its core offerings within India. The company’s future trajectory will be closely watched as it navigates this strategic recalibration.

Image Source : Wikipedia

Company type Private
Industry Transportation, Food Industry
Founded 3 December 2010
Headquarters 414, 3rd Floor 4th Block, 17th Main, 100 Feet Road Koramangala Bangalore, Karnataka, India 560034
Area served India
Key people Bhavish Aggarwal,
Services Vehicle for hire, Financial services, Food delivery
Revenue ₹2,799 crore (US$320 million) (FY23)
Net income ₹-772 crore (US$-88 million) (FY23)
Number of employees ~3,000 (2020)
Parent ANI Technologies
Website www.olacabs.com

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Ola Cabs history

Last Updated : 08/03/25, 02:45 PM

Ola's Journey from Trip Planner to Consumer Platform Ola's history began in 2010 with Olatripcom, a Delhi-based trip planning service. The company quickly pivoted to the burgeoning on-demand cab market, launching Ola Cabs in 2011. Initially reliant on phone bookings, Ola adopted a mobile app in 2012, rapidly gaining market dominance by 2015. This period saw strategic acquisitions, including TaxiForSure in 2015 for a reported 1237 crore, bolstering its market share and integrating services onto its app. By August 2015, Ola operated in over 100 cities, transitioning to an app-only service. Further expansion saw the acquisition of Geotagg in 2015 and Foodpanda India in 2017, diversifying into food delivery. Strategic investments in public transport ticketing app Ridlr (2018) and scooter rental startup Vogo (2018) further broadened Ola's reach. International expansion followed, with a London launch in 2020 boasting over 25,000 registered drivers. The company reported its first operating profit in 2020-21, but recently announced its withdrawal from international markets (UK, Australia, New Zealand) in April 2024. Technological advancements included migrating to its own cloud platform, Krutrim, in May 2024, and replacing Google Maps with its in-house Ola Maps in July 2024. On August 18, 2024, Ola Cabs rebranded as Ola Consumer, signifying a broader focus beyond ride-hailing.