OlaCabs, or simply known as Ola, was found by Bhavish Aggarwal, one of India’s most popular CEOs and an IIT-Bombay graduate. Like any other online marketplace for various or specific commodities, Ola is a cab aggregator that provides cabs for traveling within or outside the city. Bhavish earlier used to live in Mumbai but later shifted to the startup hub of India, Bangalore. After some time, Ola became one of India’s most popular startups, stretching to various other countries and competing with another popular Cab provider Uber.
Bhavesh’s early life
He was born in Ludhiana, Punjab. At merely the age of 29, Bhavesh has already achieved so much! Bhavesh completed his B.Tech from IIT-Bombay, one of the most prestigious educational institutions in India. Then after completing his education, he started working at Microsoft as an assistant researcher.
In merely two years of working with the company, he published three research papers and two patents!
Interests and side-hustle
He was always fascinated and interested in startups and business and always dreamt of starting his own company. Many people don’t know that Bhavish had his own blogging website-Desitech. in, where he used to publish articles related to startups and business, news, etc. He then slowly realized the importance of startups and businesses and then later took a totally different career path.
The idea behind OlaCabs
Bhavish left Microsoft to start his own business venture. This is about short-term vacation vacations. At that point, you are experiencing a bad experience; when he borrowed a rental car from a taxi service that provided an agent who would travel from Bangalore to Bandipur, and the driver unloaded the car in the middle of the forest and asked them to give me all the money you had against the gunpoint.
The drive wants to take all the important features from the driver, and the experience led Bhaivsh to become a successful businessman. And after this incident, he is very determined for himself and wants to solve it. He meets with his friends to discuss his idea, and friends suggest he start it.
The beginning
Bhavish’s parents were very skeptical when he narrated to them about his new startup plan. As any other parents would be concerned for their child to leave such a big firm like Microsoft, they were too. But he did and always believed whatever it takes. He hired a large team and many cars under his new rental car venture, and thus, OlaCabs started.
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Business model
For the first time, they are not discouraged and try to go to a single customer shop and provide them with the best services and provide the best food services that come to them at the airport in an easy way.
For the first month, they pay their driver 5000 tips/day and without pay. The drive should complete one single trip throughout the day. In this way the driver earns 1.5 lacs every month an amazing fact from this they have done this ola driving as a quick profit, but they earn too much and then it is their full-time job. As a day trip up, the driver wants to contact these services a month later, the trip’s cost was reduced to 2500 / day and then 750 / day, including salary.