India's Billion Dollar Startup Club
Ola Cabs (ANI Technologies) – 5 Billion
Being India’s tough competitor to Uber which is currently the most valuable start up (68 Billion), Ola’s ultimate goal is to make travel by taxis cheaper for Indian consumers than owning cars, says Mr. Aggarwal, the company’s CEO, who decided to rely on Ola's services himself rather than buy a car. Ola was founded in 2011 by Bhavish Aggarwal and Ankit Bhati, alumni of the Indian Institute of Technology Bombay. It is not just cars, but Ola has also extended its services to house auto rickshaws as well. However, the company’s decision to implement its business model on bikes was apparently not well entertained by the government.
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