Bhavesh Aggarwal Biography and the rise of Ola cab 2020

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Bhavish Aggarwal Biography
Bhavish Aggarwal Biography

Bhavish Aggarwal Biography-

The founder of Ola Cabs, Bhavish Aggarwal. He is one of the most influential tech entrepreneurs in India. He is responsible for the success of Ola cabs which has now become a billion-dollar startup. With the adverse growing startup ecosystemBhavish Aggarwal in India, there are some of the well known Indian entrepreneurs who have turned the tide in their stride and able to built and create successful companies. One of such brilliant example is the founder of Ola Cabs, Bhavish Aggarwal. He is one of the most influential tech entrepreneurs in India. He is responsible for the success of Ola cabs which has now become a billion-dollar startup. Bhavish inspires and motivates many of the entrepreneurs who want to build something creative by starting their own business.

Bhavish Aggarwal Date of Birth

Bhavish Aggarwal was born on 28th August 1985 into a middle-class family. In his earlier years, he celebrated his birthday in a very simple and typical manner with his family. But as he grew up, he initiated partying and going for hangouts along with his friends. He is the founder of ola cabs of one of the biggest startups and among the richest people in India. He throws out lavish parties and invites his celebrity friends in order to celebrate his birthday.

Bhavish Aggarwal Family Background

Bhavish Aggarwal family lives in Ludhiana, Punjab, at the same place where he was born, brought up and also started his business. Entrepreneurship is one of the difficult ways to take and there needs to be the support of all family members in order to pursue it. His family was always there to support him after he quit his top-notch job at Microsoft to start Ola Cabs. The result of that trust and faith is that he has become so successful and famous. The personal life of an Entrepreneur is worth knowing.

Bhavish Aggarwal Education

Same as like most of the founders and CEOs of various famous companies, Bhavish Aggarwal completed his graduation from the famed Indian Institute of Technology. He studied from IIT-Bombay with the stream computer science. Despite, he was from a technical field, he is quite interested in the fields of building strategies, marketing products, and marketing too. The biography of Bhavish Aggarwal inspired and motivated every individual in order to dream big to reach new heights.

Bhavish Aggarwal Personal Life

As he is one of the top entrepreneurs of India, he gets very little time to spend on his own. He is married and has a family to take care of. He was fond of spending his time reading and traveling on most of the festive occasions. Bhavish Aggarwal height is around 5 feet and 9 inches height and having a dashing personality. He is also regarded as the best good looking entrepreneur in India.

Bhavish Aggarwal Career

Bhavish Aggarwal started his career as a normal engineer after completing his studies from one of the most reputed institutes in India, IIT-B. He then went on to work with Microsoft https://www.microsoft.com/en-in/, which is one of the biggest software companies in the world. Bhavish did some remarkable work there and had achieved two patents to his name through Microsoft. He has also published some highly informational articles in international journals through which he earned huge popularity in the tech world. Just after 2 months of leaving his job with Microsoft in 2010, he started Ola Cabs, a cab aggregator in India. Initially, when the company was started, soon Bhavish started becoming popular.
The company is currently one of the biggest startups in India and became one of the most popular and successful. In the cab aggregator field, Ola is the biggest rival to Uber in India. Uber is a global player but Ola is giving very tough competition for the company. However, he is also involved in many investments in order to support upcoming startups to grow and build something useful. This is a very big thing to do to help the startup ecosystem in India. There are two Ola Cab founders: Bhavish Aggarwal and Ankit Bhati. They both have worked hard considering in order to make Ola business successful where it is now. With this aim of achieving a highly successful company and business, he is regarded as one of the best Indian entrepreneurs.

Interesting facts about Bhavish Aggarwal

  • He has done his graduation from IIT-Bombay and holds a degree in computer science.
  • He is the youngest member of his family in the list of India’s super richest people.
  • When he was just 25, he started Ola Cabs along with his co-founder Ankit Bhati.

Bhavish Aggarwal Love Life

Bhavish Aggarwal is happily married with his longtime relationship, girlfriend Rajlakshmi Aggarwal. Bhavish Aggarwal’s marriage happened where only his family members and close friends were invited. Bhavish Aggarwal’s wife is also a well-educated girl who knows her family responsibilities and manages everything properly. We wish that they have a prosperous and successful married life ahead.

About Ola Cabs

Ola Cabs is one of the trending Indian ridesharing company (TNC) offering services that concludes peer-to-peer ridesharing, ride service hailing, taxi, and food delivery. The company is headquartered in Bengaluru, Karnataka, India and was developed by ANI Technologies Pvt. Ltd. As of October 2019, Ola’s business was Valuation at approximately $10 billion. A variety of business capitalists which include Softbank having large stakes in the company.

Ola Cabs was founded on 3rd December 2010. It was established as an online cab facility providers in Mumbai and is now based in Bengaluru. In 2019, the company has broadened it’s network of more than 15 lakh (1.5 million) drivers across the 250 cities. In November 2014, Ola extended to auto-rickshaws on a trial basis in Bengaluru. After the trial phase, Ola Auto spread out to other cities like Delhi, Pune, Chennai, and Hyderabad starting in December 2014.

In January 2018, Ola expanded into its first overseas market, Australia, and New Zealand in September 2018. In March 2019, Ola initiated its UK operations introducing auto-rickshaws in the UK. 

History

In the month of March 2015, Ola Cabs acquired Bengaluru based taxi service “TaxiForSure”  for approximately ₹1,394 crores (US$200 million). In June 2015, Ola users gained access to TFS cabs via the Ola mobile application.  Later in November 2015, Ola further acquired Geotagg, which is a trip-planning applications company for an undisclosed sum.

In order to expand beyond cab aggregation, Ola acquired with the struggling food tech company Foodpanda with an objective on leveraging the growing food delivery segment business in December 2017. In April 2018, Ola made its second acquisition with Ridlr (formerly named as Traffline) which is a public transport ticketing app. Later in August 2018, Ola capitalized Series A funding of the scooter rent startup Vogo, and again in December, invested another $100 million.

The Karnataka state transport department suspended Ola’s operating license for the duration of six months for violation of license conditions and violation of Karnataka On-Demand Transportation Technology Aggregator Rules, 2016. This takes into account Ola running bike taxi services though it only had licensed for four wheeler taxi operations. The company was looking at working with driving partners in order to continue functioning. They also promised to be in touch with authorities to sort things out.

Services

Ola offers different levels of service, which has been ranging from economic to luxury travel. The cabs can also be booked throughout a mobile app and also throughout their own website. The service accepts both cash and cashless payments. It claims in order to clock an average of more than 1,50,000 bookings in a day and commands 60% of the market share in India as of 2014.

Service category

  • Auto-Rickshaw
  • Bike
  • E-Rickshaw
  • Luxury
  • Luxury SUV
  • Micro
  • Mini
  • Outstation
  • Prime Executive
  • Prime Play
  • Prime Sedan
  • Prime SUV
  • Rental
  • Share
  • Share (Express)
  • Shuttle (Closed)
  • Taxi (AC/Non-AC)
  • Pedal

Ola Electric Mobility

Ola has spread its electric vehicles business into a separate unit which is called Ola Electric Mobility with US$56 million of capitalization in February 2019. The funding has been provided by Tiger Global and Matrix India. Besides the electric vehicles, Ola Electric also works on charging solutions, EV batteries and developing viable infrastructure in order to allow commercial EVs to operate at scale. The company announced on 6 May 2019 that Ratan Tata had invested an undisclosed amount in Ola Electric as one of the parts of its Series A round of funding. 

Ola Electric business raised $250 million from SoftBank during the Series B round funding in July 2019 which has earned a valuation of over $1 billion. 

Anand Shah is a co-founder of Ola Electric and senior VP. Ola Cabs confirmed that Ola Electric will need more capital in order to achieve its target of putting 10 lakh (1 million) EVs on the roads by 2021.

Bhavesh Aggarwal Startup and their site are below given-

https://ola.com/

Some Important Questions to Discuss

What is the net worth of Bhavesh Aggarwal?

At the age of 34, Bhavesh Aggarwal has a net worth of Rs 3100 crore, higher than Ankit Bhati’s.

2. Who is the owner of Ola and Uber?

The Bhavish Aggarwal and Ankit Bhati-founded ola company respectively which has been separately raised more than Rs 400 crore from Tiger Global, Matrix Partners, and Ratan Tata for its Ola Electric business. Ola has an American competitor Uber, went publically recently, which has been under the investor scrutiny for piling up losses globally.

3. Is Ola profitable?

Bhavish Aggarwal and Ankit Bhati, both are the Founders of Ola. But it’s very important that every Ola trip in India today is much more profitable as its India business operationally broke even in July 2018. While the overall business isn’t more profitable yet, Ola’s RoC filings are optimistic in which revenues have been doubling and losses have been halved.

4. Is Ola owned by Uber?

Ola has planned to provide its service available in London from January 2020. Ola is a competitor to Uber and provides a similar service, but both of the companies also share a big financial backer in Japanese mega-investor SoftBank. SoftBank invested almost $8 billion in Uber.

5. How did Ola cabs start?

Ola initially started off as Olatrip.com, a small website venture that only offered weekend trip packages. It was started as a business by two IIT Mumbai graduates Bhavish Aggarwal and Ankit Bhati. … Ola cabs were founded on 3 December 2010 by Bhavish Aggarwal and Ankit Bhati.

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