Ola CEO Bhavish Aggarwal Success Story

Introduction

‘India’s Elon Musk’ Bhavish Aggarwal, CEO & Co-Founder of OLA Cabs and founder of OLA Electric is a well-known figure in India and the World because of his smart work in the form of one of the famous services OLA Cabs. Bhavish Aggarwal with Ankit Bhati who is a prominent traveler, with his wife traversed the South Pole, Europe, UK, New Zea Land, etc. co-founded this cab facility service available at Fingertips. Ankit Bhat also co-founded ‘Amnic’ a SaaS company.

In this blog, we are discussing how Microsoft's talent laid the foundation for the comfort and safe rides of millions.

Early Life and Education

On 28 August 1985, Bhavish Aggarwal was born in Ludhiana, Punjab based loving and supporting family. His education was finished at IIT Bombay (CSE) in 2008. He worked as a research intern at Microsoft in 2007 for one year and later absorbed as an Assistant Researcher in the same company. Bhavish worked there for two years.

Bhavish Aggarwal authored three papers in international journals and submitted two patents while working at Microsoft. He left the company in July 2010. Not too long after, Bhavish proposed the OLA planning in September 2010.

 

Bhavish Aggarwal- Personal Life

Bhavish Aggarwal was in deeply love with his girlfriend Rajalakshmi who is a Tamil-originated girl. They had first eye contact in Bangalore in the year 2007 then how talks and friendship bloomed into love is a history. They happily married in 2014 after dating for nearly 6 years. Bhavish Aggarwal has two children.

 

Entrepreneurial Journey of Bhavish Aggarwal

The idea of OLA Cabs originated during the middle of traveling from Bangalore to Bandipur when the driver pulled over and began arguing with Aggarwal over the pre-fixed fair amount The founder of OLA Electric got stuck in the middle of nowhere, which worried and irritated him. And that's how the inspiration for OLA's outstanding works came to him.

Bhavish founded the ‘OLAtrip.com’ in 2010. Originally, this company was recognized as a trip-planning company. A year later, Aggarwal and Ankit Bhati founded OLA Cabs in response to the increasing demand for taxi services. It was a cab aggregation platform this time. 

Users of the taxi booking company used to book taxis over the phone in the early years. In June 2012, OLA cabs released a smartphone app and OLA held the most market share in 2015. 

Today, OLA offers a line of electric vehicles that were once again founded by an ambitious man of dreams ‘Bhavish Aggarwal’.

Challenges Faced By Bhavish Aggarwal

When Bhavish first presented OLA to the Indian audience, he encountered various obstacles. There had been difficulties not just once but each time he developed a new idea or targeted a new market. 

Even though it was difficult for OLA to compete with local heavyweights like The Radio Traffic Services and FastTrack in the early going. Bhavish continued to set greater goals. Aggarwal was inspired by these challenges to adopt a new perspective and develop an unusual yet practical solution. It was at this time that OLA introduced its inter-city travel service and began employing drivers with an All India Permit. 

In a similar vein, Bhavish continued to add more features to OLA, including the award-winning OLA Mini and OLA Auto. 

OLA Cab launched its Ola Electric IPO on 2 August 2024 which recorded a huge success.

OLA Cab’s Performance

Ola Electric Mobility Limited's revenue climbed by 88.42%, while profit after tax (PAT) decreased by 7.63% during the FYs ending March 31, 2024, and March 31, 2023. 

Below is the synopsis of the company's financial data for the financial year that concluded on 31 March 2024.

• The company’s total revenue is over Rs.5,243.27 crore.

• The net worth of the company is Rs.2,019.34 crore.

• The company's EBITDA is Rs. -10,401.91 crore.

• The total assets of the company are Rs.7,735.41 crore.

• Net cash flow in operating activities increased to Rs. -6,330.87 crore (FY 2024) from Rs. -15,072.71 crore (FY 2023).

• Net cash flow in investing activities fell to Rs. -11,362.76 crore (FY 2024) from Rs. -3,185.50 crore (FY 2023).

• Net cash flow in financing activities increased to Rs.15,899.61 crore (FY 2024) from Rs.6,587.04 crore (FY 2023).

Personal and Professional Achievements

• In 2013, Bhavish Aggarwal and his company OLA, were honored with South Asia's mBillionth award.

• The Economic Times presented him with the 2017 ET Awards: ‘Best and the Brightest’

• Time Magazine's 100 Most Influential People of 2018.

• He and his company took home the IAMAI's Best Startup of the Year award the same year.
  
  

Net Worth & Investments of Bhavish Aggarwal

According to the Bloomberg Billionaire Index, Bhavish Aggarwal's net worth exceeded Rs.21000 crore as of August 2024.

Being an angel investor in his brother's firm Avail Finance, Bhavish made various investments:

 

Did You Know?

Bhavish Aggarwal is considered India's youngest and wealthiest entrepreneur, yet he also has a few nice little passions. 

Beneath the tight business attire, he enjoys playing squash and riding the bicycle. Besides he has a well-known photoblog that he maintains.

Conclusion

The achievement of Bhavish Aggarwal is not merely a far-off triumph. It inspires countless new entrepreneurs. His willingness to overcome obstacles, dedication to finding practical solutions, and will to follow his vision are admirable and motivating. His path is a source of inspiration and hope in India, where there is a growing entrepreneurial spirit. His significant influence on the entrepreneurial scene and the transportation sector in India highlights his role as a visionary leader driving one of the country's most successful businesses.

His path is a reflection of India's changing tech landscape. As the nation enters the digital era, figures like Bhavish Aggarwal play a critical role in leveraging technology to address basic problems. Ola's success shows how technology can drastically alter industries that impact millions of people on a daily basis. Aggarwal's narrative captures the spirit of a contemporary Indian entrepreneur driving innovation.