Ola
Funding History
| Series D · 10/2014 | $1.0B |
|---|---|
| Series F · 11/2015 | $5.0B |
| Pre-IPO Extension (December 2021) · 12/2021 | $7.3B |
About
Ola operates an app-based ride-hailing platform connecting riders with driver-partners across Indian cities, generating revenue primarily through a service fee on rides booked through the app. Over its history the company has also operated adjacent consumer businesses under the Ola brand, including a cab-aggregator acquisition (TaxiForSure), a digital wallet (Ola Money), and, more recently, credit and AI-shopping products introduced as part of its 2024 rebrand to Ola Consumer.
- Chairman & Managing Director
- Bhavish Aggarwal
- Founded
- 2010
- Headquarters
- Bengaluru, India
Overview
Ola (legally ANI Technologies, rebranded Ola Consumer in August 2024) is an Indian ride-hailing company founded in Bengaluru in December 2010 by Bhavish Aggarwal and Ankit Bhati. It operates a mobile-app-based cab-hailing platform across Indian cities and has, over its history, expanded into and later scaled back adjacent businesses such as food delivery, payments (Ola Money), and credit. The ride-hailing business is a sister company to the separately listed Ola Electric Mobility, which builds electric scooters and is majority-owned by the same founder, Bhavish Aggarwal.
Ola has pursued an IPO of its ride-hailing business in fits and starts since 2021: an initial roughly $1 billion listing plan was abandoned, a second attempt targeting about $500 million was announced in April 2024, and in November 2024 shareholders approved converting ANI Technologies from a private to a public limited company as a formal step toward that goal. The company remains unlisted as of this profile's research date. Its private-market valuation has fallen sharply amid revenue declines and intensified competition from rivals such as Uber and Rapido: mutual-fund investor Vanguard, which has held a stake since 2015, marked its implied valuation of the company down from a 2021 peak of about $7.3 billion to roughly $70 million by June 2026.
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