Ola Consumer

Ola
Company typePrivate
IndustryTransportation
Food Industry
Founded3 December 2010; 13 years ago (2010-12-03)
Founders
Headquarters
414, 3rd Floor 4th Block, 17th Main, 100 Feet Road Koramangala Bangalore, Karnataka, India 560034
Number of locations
250+ cities
Area served
India
Key people
ProductsMobile app, website
Services
RevenueIncrease ₹2,799 crore (US$340 million) (FY23)[2]
Positive decrease ₹−772 crore (US$−93 million) (FY23)[2]
Number of employees
~3,000 (2020)
ParentANI Technologies[3]
Websitewww.olacabs.com

Ola Consumer, formerly Ola Cabs, is an Indian transportation company that provides ride-hailing services and operates other business verticals such as financial services and cloud kitchens. It is headquartered in Bangalore, and operates in 250+ Indian cities.

A variety of venture capitalists including Softbank have large stakes in the company.[4] In January 2018, Ola extended into its first overseas market, Australia, and launched in New Zealand in September 2018.[5] In March 2019, Ola began its operations in the UK.[6] In April 2024, the company announced that it is exiting all of its international markets to focus on the Indian market.[7] In August 2024, the company rebranded itself into Ola Consumer.[8]

  1. ^ "Ola's losses accumulate to Rs 17,453 Cr as revenue shrinks 63% in FY21". 3 November 2021.
  2. ^ a b Sil, Debarghya (10 January 2024). "Ola Cabs Parent ANI Tech's FY23 Revenue Crosses INR 2,500 Cr Mark, Loss Declines To INR 772 Cr". Inc42 Media. Retrieved 16 January 2024.
  3. ^ Bhalla, Tarush (2 November 2021). "Ola posts operating profit in FY21 ahead of likely share sale". mint. Retrieved 15 November 2021.
  4. ^ "Would an Ola-Uber Merger in India Get the Competition Commission's Approval?". The Wire. 29 April 2018. Retrieved 19 March 2019.
  5. ^ "India's Ola forays into New Zealand in latest overseas push". Reuters. 18 September 2018. Retrieved 18 September 2018.
  6. ^ Shrivastava, Aditi. "Next pickup is London for Ola". The Economic Times. Retrieved 1 January 2022.
  7. ^ "Ola Cabs to exit international markets this month". The Economic Times. 9 April 2024. ISSN 0013-0389. Retrieved 19 April 2024.
  8. ^ Pushkarna, Akshit (15 August 2024). "Ola Cabs Rebranded To Ola Consumer; Ride-Sharing Service Ola Share Relaunched". Inc42 Media. Retrieved 11 September 2024.