OLA Cabs – Redefining car rentals

Many are aware of the E-commerce titans Amazon, eBay, Alibaba, Snapdeal, and Flipkart.  These companies made it big by bringing a huge change to the way shoppers shop.  They made shopping online, it was simple, hassle free, cost-effective, time-bound, and provided a fulfilling experience to the customers.   Likewise, not many are aware of Ola Cabs, the online cab service, an innovation which integrates convenience, quality service, price transparency, and safety together.  Here is a feature on the success story of Ola Cabs.

bhavish aggarwal of ola cabs

The Brains behind Ola Cabs

A very bitter experience of a cab driver renegotiating the car fare with Bhavish Aggarwal in the middle of a journey while he was travelling from Bangalore to Bandipur, motivated him to conceive the idea of OlaCabs.  Later Ankit Bhati joined him as the co-founder of OlaCabs.  The company started its function in the month of December 2010.   The company’s genuine intention is to provide a safe, quality, and cost-effective service to its customers.

on demand cars

How does OlaCabs work?

The concept is simple.  OlaCabs have no cars of its own.  The company works as a facilitator between the customer and the driver.  It has partnered with self-employed drivers, taxi drivers, and cab operators with multiple cars.  Drivers owning valid driving license with no criminal past and cleared by the transport authorities are eligible to sign up with OlaCabs.

Customers have free access to the app, and likewise the Olacabs drivers have the mobile app on their Smartphone.  Customers can use OlaCabs website, app, or call center to book cabs.  Drivers are provided with an option to choose their working hours; they can log in at their own convenience and start accepting customers.

ola cabs

How does OlaCabs generate revenue?

OlaCabs charge a fee for every sale its partner drivers make.  Drivers can have access to OlaCabs new technology platforms by paying a nominal fee.  OlaCabs have partnered with more than 300,000 cabs across 102 cities in India and still going strong.  As of now, they have crossed a booking of 15 crores and are eyeing to clock 30 lakhs booking per day.

Image courtesy: digit.in , estartups.co.in , slideshare.net , thenextweb.com 

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