Ola is one of the two dominant players in the Indian Cab-Hailing space. Ola and Uber share most of the market share in India. It expanded its business overseas in January 2018 by going to Australia. Recently, the company announced Simon Smith as the Managing Director of its operations in Australia. This is a baby step considering the fact that Ola is competing with rival Uber from the US who have much deeper roots across the globe.
Uber is the largest cab-hailing platform in the world. Uber is facing a $650 Mn class action suit from London drivers. Meanwhile Indian cab aggregator Ola has acquired licenses to operate in South Wales and Greater Manchester in the UK. They are also working with local authorities in the UK to expand nationwide by end-2018. Ola is offering low rates for vehicles in the new market for gaining market share.
Ola has been extremely successful in India and its success attracted the global giant to come to India. Now that Ola has tested their methods in India, they have set their foot in New Zealand too. They are looking forward to expanding their operations into Bangladesh, Sri Lanka and North Africa rapidly. This is a good patch for the India cab aggregator and they want to make good use of this as soon as possible. The rises of Ola as a global brand will boost the confidence of Indian startups in the transport industry and internet technologies industry to try out new forms of businesses and expand globally.
Sailing Capital and China Eurasian Economic Cooperation Fund are the two new investors from China to put their money in the Indian cab hailing major. These companies have put $50 million in Ola, which is supposed to have a valuation of around $3.5-$4.3 billion. Ola has investments from numerous well-known investors as well such as Temasek, Steadview, Softbank, Matrix and Tencent. The investments have made Ola the largest competitor of Uber in India. These investments will help the company to start out in new areas such as bike cabs and so on.