Interesting facts about Ola founder Bhavish Aggarwal
A notable one among youngest millionaires, Ola Founder Bhavish Aggarwal is an inspiring personality who rose to fame through luck, smart work as well as hard work. Here are a few interesting facts about Bhavish Aggarwal, you might not have known so far.
A native of Punjab
Bhavish Aggarwal was born in Punjab on 28 August 1985. He is an independent entrepreneur in every sense of the term. In an important turn in his life, he co-founded Ola cabs.
A former student of IIT, Bombay
Bhavish completed his bachelor’s degree in computer science from Indian Institute of Technology (IIT) Bombay.
Starting off his career
Microsoft gave the first platform for Bhavish to start his career. He worked with this company for about 2 years. During his tenure, he filed two patents. He too published 3 papers in international journals.
Founded Ola cabs
In the year 2011, Bhavish co-founded Ola Cabs with Ankit Bhati in Mumbai. Within a time span of four years, Bhavish and his co-founder Ankit Bhati were the youngest to be listed among the richest Indians for the year 2015.
How Ola Cabs came up
In one of his business journeys, Bhavish travelled from Bangalore to Bandipur. He rented out a car and the entire episode ended up in a bad tone. The driver stopped on the way and started demanding more than what was agreed upon initially. When he was refused, the driver abandoned him on the way before the destination. Bhavish understood this was the plight faced by several other travelers booking cars. Bhavish wished to find a car rental company that will assure a great customer experience combined with economical prices.
Tapped the potentials in car booking
Bhavish foresaw great potential in car booking business. In 2010, he co-founded Ola Cabs with Ankit Bhati. His parents in fact did not like the idea of Bhavish jumping into a sort of travel booking agent’s job. Nevertheless, when Ola Cabs received its first round of funding from two angel investors, Bhavish’s parents started believing that he has some workable ideas.
The Ola Cabs model
Ola Cabs did not resort to the model of buying and renting its own cars. Instead, it partnered with a number of taxi drivers and moved the entire set up to a sophisticated step forward. As per the Ola Cabs model, people could book cars within a short while from the comfort of their phones. The bookings that were accepted were half or full-day rentals and also outstation taxi services. Ola Cabs offers the widest set of options to the customers including Mini, Prime, and Luxury.
The most economical cabs
Right from the time of its inception, Ola Cabs depended on SoftBank for is funding needs besides pooling investments from Angel Investors. They also started charging lesser than what the auto-rickshaws charged. Ola Cabs offered taxi bookings for dead cheap prices at Rs.10 per km.
Ola Cabs expansion
Ola Cabs has recently ventured into providing auto-rickshaw booking services following the launch of Ola Auto. It is now possible for customers to find autos on-demand on the Ola Auto app.