The Indian taxi hailing industry is valued to be close to $10 billion. A lucrative and relatively untapped market such as this is bound to attract a lot of attention from entrepreneurs in India and around the world. Capitalising on this opportunity, Bhavish Aggarwal and Ankit Bhati launched India’s very own cab hailing startup, Ola.
The idea behind Ola came to Bhavish Aggarwal after he found himself stranded in the middle of the road on his way to Bandipur from Bangalore. Bhavish’s cab driver stopped the car in the middle of the journey and demanded a renegotiation of what Bhavish was paying and then proceeded to abandon him by the side of the road. Understanding the plight of travellers everywhere, he saw the amount of potential that an extraordinary cab booking service could have in this country. In 2010, he changed his business model from a holiday and tour planning company to a taxi hailing firm.
Joined by his co founder Ankit Bhati, Ola was launched in December 2010 as Ola Cabs. The taxi aggregator efficiently bridges the gap between cab owners and commuters adding a touch of technology to make lives and transportation easier.
Bhavish Aggarwal’s journey from almost beginning a tourism company to establishing India’s biggest taxi hailing startup looks like a dream of every aspiring entrepreneur in the country. If anything, Ankit Bhati and Bhavish Aggarwal’s story is proof that anything is possible if you have the will and the determination to start your journey. Two IIT B-Tech graduates who started their careers in Microsoft and other startups have acquired 3 startups till date and raised more than $350 million from existing as well as new investors. The success story of Ola is the motivation everyone needs to book your next ride and start your own journey.