Bangalore: Olacabs,  one of India’s car rentals and point-to-point cab services, today announced that it has recorded a phenomenal 40 percent month on month  growth over the last financial year. The number of cabs on the Ola technology platform has crossed 4000  across Delhi, Mumbai and Bengaluru. Earlier this month, Olacabs  was also launched in Pune taking its presence to four major cities across India.

The growth rate explosion comes from the number of new cabs added to the system as well as better inventory utilization through use of advanced technology. On the backend, Olacabs has strengthened its optimization systems by building it’s own ‘war room’ that tracks every cab in real time to drastically improve optimization of inventory and on-time pickups. On the other hand, it has also built strong analytics with city data over time using heat maps and dashboards to intelligently predict demand at different times of the day and position inventory accordingly. Olacabs now works with over 1500 operators which includes single-owner driven cars as well as large operators.

Today, Olacabs takes over 10,000 customer calls a day. The number of bookings through the first of its kind mobile app has increased by 100% quarter on quarter since August 2012 when it was launched, making it the fastest growing booking channel. While the app saw upward of 2 million visits across Android and iOS, the web-booking platform had over 5 million visitors in the last year. Recently, the company released a new version of the mobile app offering additional features like advance bookings, custom pickups and Ola Money.

The focus in the last year has been on optimizing supply and efficiency at the backend to ensure that maximum customers are served on time. Ola has also successfully partnered with all major OTAs like Goibibo, MakeMyTrip, Cleartrip and Via to provide reliable on-ground solutions like airport transfers as well as local/outstation rentals.

Bhavish Aggarwal, Co-founder and CEO, Olacabs said, “We are growing very fast in all markets that we operate in. The growing number of bookings is an indication of tremendous customer confidence in our service and also the need for a reliable and on-time cab service that can happen at scale only with technology, the kind of which we use.  What is also heartening to see is the growing confidence of cab operators in the Ola brand. A lot of the new cabs added are a result of word of mouth from our existing operators. With the current scale of growth and the new cities we intend to serve in the year ahead, we are targeting a run-rate of $100m by the end of FY 14.”

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