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ANI Technologies (Ola Consumer / Ola Cabs)

On-Demand Ride HailingFounded 2010
Reviewed by Swet Parvadiya
Company data updated: October 2026
Independent Editorial Analysis
12 historical events · Editorial analysis

Ola Company Profile: Revenue, Business Model & Strategy

Research depth: 12 milestones · 10 FAQs

Ola Cabs (now Ola Consumer) is an Indian ride-hailing app operated by ANI Technologies, founded in 2010 by Bhavish Aggarwal and Ankit Bhati. In FY25 its revenue from operations fell 42% to ~$136 million (₹1,170.9 crore) and its net loss widened to ~$76.8 million (₹662.4 crore).

How Ola makes money: Ola is an asset-light marketplace: independent drivers own their cars, autos and bikes, and Ola supplies demand, dispatch, maps and payments. Historically it took a 15-20% commission on each fare.

Revenue & employeesCEO historyFoundersBusiness model
Annual Revenue (FY2025)~$135.8M
CEOBhavish Aggarwal
Founded2010
IndustryOn-Demand Ride Hailing
By Swet ParvadiyaLast reviewed:
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Data sources: annual reports, SEC filings, methodology
Industry:On-Demand Ride Hailing

ANI Technologies (Ola Consumer / Ola Cabs) key figures

ANI Technologies (Ola Consumer / Ola Cabs) had revenue of ~$135.8M for fiscal year 2025, down 41.8% from FY2024. Net loss was ~$76.8M, a net margin of -56.6%.

Source: ANI Technologies FY25 consolidated financial statements (via Mint, Entrackr) · Last reviewed October 2026

Revenue growth, FY2023 to FY2025
-31.3% a year
Compound annual rate, ~$287.8M to ~$135.8M
Peak revenue year
FY2023
~$287.8M; the latest reported year is 52.8% below the peak
Documented transactions
4
Between 2015 and 2021
Founded
2010
16 years ago
Where was Ola founded?
Ola was founded in Mumbai, Maharashtra, India in 2010. wikidata.org
When did Ola start?
Ola was founded in 2010.
How old is Ola?
Ola is 16 years old as of 2026.
In-Depth Analysis
206 words · 2 min read

Ola Consumer, formerly Ola Cabs, is an Indian ride-hailing app run by ANI Technologies Private Limited in Bengaluru. Founded in 2010 by Bhavish Aggarwal and Ankit Bhati, it reported FY25 revenue from operations of ~$136 million (₹1,170.9 crore), down 42%, and a net loss of ~$76.8 million (₹662.4 crore).

What does Ola do?

Ola books cabs, auto-rickshaws (Ola Auto), bike taxis (Ola Bike), hourly rentals and outstation trips through its app, and runs the Ola Money wallet. It does not own the vehicles; independent drivers do.

How does Ola make money?

For most of its history Ola took a 15-20% commission on each fare. In FY26 it moved to a pan-India zero-commission model where drivers pay fixed subscriptions, and it is building income from advertising, enterprise travel and financial services.

Why has Ola shrunk?

Rapido expanded from bike taxis into autos and cabs and Uber invested heavily, pushing Ola to about 25-30% of four-wheeler rides. Ola also shut used cars, cloud kitchens, grocery and international operations, and filed FY25 accounts more than six months late.

What is next?

ANI Technologies' board has approved IPO preparations. Vanguard marked the company at about $70 million in February 2026, far below its $7.3 billion peak in 2021.

Table of Contents

ANI Technologies (Ola Consumer / Ola Cabs) Key Facts

CompanyANI Technologies (Ola Consumer / Ola Cabs)
Annual revenue change-41.8% (FY2024–FY2025)
Financials~$135.8M (FY2025, last reviewed October 2026)
FY2025 net incomeloss ~$76.8M
Last reviewedBy Swet Parvadiya, Founder & Editor - October 2026
Founded2010
Founder(s)Bhavish Aggarwal, Ankit Bhati
CEOBhavish Aggarwal
HeadquartersBengaluru, Karnataka, India
IndustryOn-Demand Ride Hailing

Ola Company Profile: Revenue, Business Model & Strategy

"Ola Cabs, now Ola Consumer, saw FY25 revenue drop 42% to ~$136 million (₹1,170.9 crore) as Rapido and Uber took share, and is now preparing for an IPO after moving drivers to zero-commission subscriptions."

Why ANI Technologies (Ola Consumer / Ola Cabs) Wins

Where Ola still wins: a known brand, a multi-vehicle driver base across cabs, autos and bikes, and its own mapping stack (Ola Maps) that cut dependence on Google.

ANI Technologies (Ola Consumer / Ola Cabs) operates in a competitive market alongside Uber Technologies, Inc., Lyft, Inc.. Analysts frequently compare ANI Technologies (Ola Consumer / Ola Cabs) and Uber Technologies, Inc. due to their overlapping products, target markets, and strategic positioning. See full comparison →

Ola Cabs (now Ola Consumer) is an Indian ride-hailing app operated by ANI Technologies, founded in 2010 by Bhavish Aggarwal and Ankit Bhati. In FY25 its revenue from operations fell 42% to ~$136 million (₹1,170.9 crore) and its net loss widened to ~$76.8 million (₹662.4 crore). Bhavish Aggarwal leads the company, which is preparing for an IPO.

Revenue

~$135.8M

Founded

2010

Author: CorpDigest Research DeskCompany Research

Explore Ola In Depth

Detailed research across every dimension of Ola — history, financials, leadership, and strategy.

Company History

Ola was the company that brought app-based cabs and auto-rickshaws to mainstream India and fought Uber to a standstill through the 2010s.

Full Ola history →

Revenue & Financials

Ola had ~$135.8M in revenue for fiscal year 2025. Data covers 3 fiscal years.

Ola financials →

Founders

Ola was founded by Bhavish Aggarwal, Ankit Bhati in 2010 in Mumbai, Maharashtra, India. Explore each founder's background, motivations, and their role in building the company.

Ola founders →

CEO & Leadership

Ola is currently led by Bhavish Aggarwal. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.

Ola CEO history →

Business Model

Ola is an asset-light marketplace: independent drivers own their cars, autos and bikes, and Ola supplies demand, dispatch, maps and payments. Historically it took a 15-20% commission on each fare.

How Ola makes money →

Acquisitions

Ola has completed 4 documented acquisitions. Explore the full acquisition history and strategic rationale behind each deal.

Ola acquisitions →

Competitive Strategy

Ola's current strategy is retrenchment around ride-hailing: it exited the UK, Australia and New Zealand in April 2024, shut used cars, cloud kitchens, grocery and ONDC food and commerce, cut staff, and moved drivers to…

Ola strategy →

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 Research Profile

Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.

About the Author →Our Methodology →

Frequently Asked Questions About Ola

What is Ola Cabs (Ola Consumer)?

Ola Consumer, formerly Ola Cabs, is an Indian ride-hailing app run by ANI Technologies Private Limited in Bengaluru. It books cabs, auto-rickshaws and bike taxis and was founded in December 2010.

Who owns Ola Cabs?

Ola is privately owned by ANI Technologies' shareholders: founder Bhavish Aggarwal and investors including SoftBank and other venture funds. In its FY25 filings the company classified itself as having no promoter under the Companies Act ahead of a planned IPO.

Who is the CEO of Ola Cabs?

Co-founder Bhavish Aggarwal leads Ola. He took back direct control of the ride-hailing business in April 2024 after Hemant Bakshi left the CEO role about four months into the job. Aggarwal also runs Ola Electric and Krutrim.

How does Ola make money?

Ola earned most of its revenue from a 15-20% commission on rides. In FY26 it moved to a zero-commission model in which drivers pay fixed daily or monthly subscriptions, and it is adding advertising, enterprise contracts and financial services income.

What was Ola's revenue in FY25?

ANI Technologies reported consolidated revenue from operations of ~$136 million (₹1,170.9 crore) for the year to March 2025, down 42% from ~$233 million (₹2,011.9 crore). The net loss was ~$76.8 million (₹662.4 crore), or ~$229 million (₹1,974.7 crore) including the fall in value of its Ola Electric shares.

Who are Ola's competitors?

Uber and Rapido are Ola's main rivals in India, with Uber at about 45% of four-wheeler ride-hailing and Rapido above 20%. Open-network apps such as Namma Yatri compete in auto-rickshaws.

What is Ola's valuation?

Ola peaked at about $7.3 billion in 2021. As of February 2026, Vanguard's SEC filing marked ANI Technologies at about $70 million, roughly 99% below that peak. There is no current priced funding round.

Is Ola Cabs going public?

Yes, ANI Technologies' board has approved preparations for an IPO and the company began incurring IPO-related costs in FY25. No listing date or draft prospectus had been made public as of October 2026.

Is Ola better than Uber in India?

Ola and Uber fiercely compete in a near duopoly in India, but Ola generally commands a slightly larger overall market share due to its deeper early integration with local auto-rickshaws and tier-2 city expansion.

Who founded Ola?

Ola was founded in 2010 by Bhavish Aggarwal and Ankit Bhati, who met as students at IIT Bombay.

Analysis: How ANI Technologies (Ola Consumer / Ola Cabs) Makes Money

Deep dive into the ANI Technologies (Ola Consumer / Ola Cabs) business model, revenue streams, and strategic moats in 2026.

Competitor Benchmarking

ANI Technologies (Ola Consumer / Ola Cabs) vs Uber Technologies, Inc.

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ANI Technologies (Ola Consumer / Ola Cabs) vs Uber Technologies, Inc.
Strategic Head-to-Head

Financial data on this page is sourced from SEC EDGAR filings, official earnings releases, and verified press statements. Revenue figures are reviewed and updated periodically. Read our full data methodology ->

Explore More Brand Histories

This corporate intelligence report on ANI Technologies (Ola Consumer / Ola Cabs) compiles data from verified filings. Explore more detailed brand histories and company histories in the global On-Demand Ride Hailing marketplace.

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Editorial Methodology

Company Research

We use company filings, annual reports, company statements and press reports, with primary sources preferred where available. Each financial row shows its recorded source. Full-year figures are separated from annualized run-rates, partial periods and forecasts; unaudited figures carry a label. Source detail varies by company, so check the linked material when the reporting basis matters.

1. Primary Sources

Public companies may provide filings and annual reports. Private-company figures may come from statements or press coverage. A missing figure stays missing, and a source link should identify where its number came from.

2. Expert Curation

We organize company records and review claims for strategic context, source quality and clarity. Pages show a review date where one is recorded.

3. Multi-Pass Audit

Technical checks flag inconsistent figures and missing links. Editorial review of the underlying source remains necessary for claims those checks cannot verify.

Swet Parvadiya
SEC filings & public records methodology
Sourced from public financial records

Explore Related Pages for ANI Technologies (Ola Consumer / Ola Cabs)

History & FailuresTimeline, setbacks, and key milestonesBusiness ModelHow they make money and market productsFinancialsRevenue history and fiscal metricsCompetitive StrategyRivals, benchmarks, and SWOT analysis

Sources & References

The data and narrative synthesized in this intelligence report were verified against primary sources:

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