ANI Technologies (Ola Consumer / Ola Cabs)
Company History
Ola History: Founding, Growth & Key Milestones
Founded 2010 in Mumbai, Maharashtra, India
When was Ola founded?
Ola was founded in 2010 in Mumbai, Maharashtra, India by Bhavish Aggarwal and Ankit Bhati, making it 16 years old.
- Founded
- 2010
- Founding place
- Mumbai, Maharashtra, India
- Founders
- Bhavish Aggarwal and Ankit Bhati
- Headquarters today
- Bengaluru, Karnataka, India
- Milestones documented
- 12 (2010–2026)
- Current CEO
- Bhavish Aggarwal
- Acquisitions
- 4
| Year | Event |
|---|---|
| 2010 | Ola founded in Mumbai |
| 2014 | Ola Auto launched |
| 2014 | SoftBank Leads $210 Million Round |
| 2015 | TaxiForSure acquired |
| 2017 | Acquired Foodpanda India |
| 2018 | International expansion |
| 2018 | Acquired Ridlr |
| 2019 | Hyundai and Kia Invest $300 Million |
| 2021 | Peak $7.3 billion valuation |
| 2021 | Acquired GeoSpoc |
| 2024 | CEO exit, layoffs and global exit |
| 2026 | FY25 results and IPO preparations |
- Where was Ola founded?
- Ola was founded in Mumbai, Maharashtra, India in 2010. wikidata.org
- Who founded Ola?
- Ola was founded by Bhavish Aggarwal and Ankit Bhati.
- When did Ola start?
- Ola was founded in 2010.
- How old is Ola?
- Ola is 16 years old as of 2026.
Founding Story
In 2010 Bhavish Aggarwal, then a Microsoft Research engineer, hired a car for a trip from Bengaluru toward Bandipur. The driver stopped midway and demanded more money; when Aggarwal refused, he was left on the road. The experience convinced him that Indian taxi travel needed accountability, and with fellow IIT Bombay alumnus Ankit Bhati he started Ola in Mumbai, first as an outstation and holiday booking site before shifting to on-demand city cabs.
Founders
Bhavish Aggarwal
Bhavish Aggarwal co-founded Ola in 2010 and leads ANI Technologies. He also founded and runs Ola Electric, which listed in August 2024, and the AI company Krutrim. He resumed direct control of the ride-hailing business after Hemant Bakshi's exit in April 2024 and has pushed cost cuts, in-house tech such as Ola Maps, and the zero-commission driver model. Bhavish Aggarwal was born in 1985 in Ludhiana. Education: Indian Institute of Technology Bombay. Aggarwal was born on August 28, 1985. He also founded Ola Krutrim, an artificial intelligence company, and was named in Time magazine's 100 Most Influential People of 2018.
Ankit Bhati
Ankit Bhati co-founded Ola with Bhavish Aggarwal in 2010 and served as its chief technology officer, building the original booking and dispatch systems that let Ola scale across Indian cities. He later stepped back from an executive role. (Exact birth year remains publicly undisclosed).
Key Milestones
Ola founded in Mumbai
Bhavish Aggarwal and Ankit Bhati launch Ola as a cab and outstation booking service.
Source: en.wikipedia.orgOla Auto launched
Ola adds app-booked auto-rickshaws, opening ride-hailing to mass-market commuters.
Source: en.wikipedia.orgSoftBank Leads $210 Million Round
SoftBank led a $210 million investment in Ola in October 2014.
Source: en.wikipedia.orgTaxiForSure acquired
Ola buys rival TaxiForSure in a deal reported at about $200 million.
Source: en.wikipedia.orgAcquired Foodpanda India
ANI Technologies (Ola Consumer / Ola Cabs) acquired Foodpanda India.
Source: en.wikipedia.orgHyundai and Kia Invest $300 Million
Hyundai and Kia agreed in March 2019 to invest $300 million in Ola.
Source: en.wikipedia.orgPeak $7.3 billion valuation
ANI Technologies reaches its highest private valuation.
Source: m.economictimes.indiatimes.comAcquired GeoSpoc
ANI Technologies (Ola Consumer / Ola Cabs) acquired GeoSpoc.
Source: en.wikipedia.orgCEO exit, layoffs and global exit
CEO Hemant Bakshi leaves after about four months, around 10% of staff are cut and the UK, Australia and New Zealand businesses close.
Source: techcrunch.comFY25 results and IPO preparations
Late-filed FY25 accounts show revenue down 42% to ~$136 million (₹1,170.9 crore) and a ~$76.8 million (₹662.4 crore) loss; the board approves IPO preparations.
Source: entrackr.comMajor Acquisitions
TaxiForSure
2015Acquired Bengaluru rival cab aggregator.
Foodpanda India
2017All-stock purchase of Delivery Hero's Indian food delivery unit.
Ridlr
2018Public transit ticketing app in Mumbai.
GeoSpoc
2021Geospatial technology firm.
Keep researching Ola
Ola Company History FAQ
When was Ola founded?
Ola was founded in December 2010 in Mumbai by Bhavish Aggarwal and Ankit Bhati, both IIT Bombay graduates.
When did Ola exit international markets?
Ola closed its UK, Australia and New Zealand operations in April 2024 to focus on India.
Why is Ola Cabs now called Ola Consumer?
ANI Technologies rebranded the ride-hailing business as Ola Consumer, reflecting a wider consumer app rather than cabs alone.
When did Ola switch from Google Maps to Ola Maps?
In 2024 Bhavish Aggarwal said Ola had moved its apps fully to its in-house Ola Maps.
How did a terrible weekend road trip lead Bhavish Aggarwal to create Ola Cabs in 2010?
In 2010, while traveling from Bengaluru to Bandipur, Bhavish Aggarwal was stranded on the side of the road by an aggressive taxi driver demanding exorbitant extra money. Realizing that intercity and city taxi travel in India was unreliable, unsafe, and opaque, Aggarwal teamed up with college batchmate Ankit Bhati to build an on-demand cab aggregator.
How did Ola defeat Uber in the battle for Indian ride-hailing dominance between 2014 and 2018?
Ola out-maneuvered Uber by launching cash payments first, introducing affordable "Ola Auto" (auto-rickshaw booking in 2014), launching "Ola Micro" for budget-conscious commuters, accepting local debit cards, and deploying regional multilingual customer support, forcing Uber to adopt cash and autorickshaws globally.
Why did Ola exit international operations in the UK, Australia, and New Zealand in 2024?
In April 2024, Ola made the strategic decision to shutter its ride-hailing operations in the United Kingdom, Australia, and New Zealand. Faced with high regulatory costs, driver supply constraints, and modest market share overseas, Ola chose to refocus 100% of its capital and management bandwidth on the massive Indian consumer market.
Why did ANI Technologies rebrand as "Ola Consumer" in 2024?
In August 2024, Bhavish Aggarwal announced that ANI Technologies was rebranding to Ola Consumer, expanding beyond ride-hailing into quick commerce, Open Network for Digital Commerce (ONDC) food delivery, financial services, and digital retail products.
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