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<ul><li><keyword id="10177413" type="COMPANY" weightage="20" keywordseo="the-khichdi-experiment">The Khichdi Experiment</keyword> by Ola Foods is one of the fastest growing brands.</li><li>The cloud kitchen brand has already crossed the landmark figure of 1 million+ orders.</li><li> Through KPL, Ola’s Khichdi Experiment continues to share the success story of the brand and advocates the melange of Cricket and Food strongly.</li></ul>The Khichdi Experiment by Ola Foods, the food-first company and a part of Ola – steps up the excitement of this ongoing IPL season with its signature Khichdi variants along with catchy anthems for each of the eight IPL teams under the new campaign <keyword id="10177414" type="COMPANY" weightage="20" keywordseo="khichdi-premiere-league">Khichdi Premiere League</keyword> 2020. The campaign aims to uphold the spirit of cricket and take the whole match-day snacking experience to a new level. With revivification in progress, in the Covid times, the Cricket world in India is enjoying the 13th season of <keyword id="1219822" type="COMPANY" weightage="20" keywordseo="The-Indian-Premier-League">the Indian Premier League</keyword> that is being played away from the shores of the nation, in the UAE. While the match-watching experience has been restricted owing to the social distancing norms, the IPL fever remains the same and the fans never fail to celebrate the potpourri of Cricket and Food. Interestingly, as people have adjusted to the new way of enjoying the match from the comfort of their homes, by offering food that is wholesome, exciting and adding on to tadka of supporting the team spirit, one can take the whole IPL experience to a new level. Every khichdi is unique in its ingredients and taste, therefore embodying the regional flavours of the state that these teams represent. From RCB’s Bisi Bele Bath to KKR’s Bengali Panch Phoran Khichdi, the KPL offers an exciting array of Khichdi variants infused with the modern twist of flavours and the excitement of Cricket. Few other notable variants includes a modern fusion such as Mumbai Indian’s Pav Bhaji Khichdi, Rajasthan Royal’s Leshun Aur Hare Pyaaz Ki Khichdi, CSK’s Sambar Khichdi, Sunrisers Hyderabad’s Khatte Dal Ki Khichdi and KXIP &amp; Delhi Capital’s Langarwali and Tadkewali Khichdi respectively. As part of this campaign, Ola Foods has also customized and curated catchy anthems for the Khichdi variant of every IPL team. Tune in to the KPL anthem and indulge in a ride of flavours supporting your team on a match day with your bowl of Khichdi. Khichdi Experiment has also launched a social media campaign ‘Apna Game, Apni Khichdi’, which is currently underway and includes fun filled engagements such as a series of contests to keep the conversation brewing between Food and Cricket. Users are creating their own videos using the khichdi anthems to show support to their favourite team. Social media is abuzz with rap karaoke, dance steps and lip sync videos featuring the team’s khichdi anthems. As India watches this IPL season from the comfort of their living room, Khichdi Experiment by Ola Foods is adding to the much needed excitement with KPL. The Khichdi Experiment by Ola Foods is one of the fastest growing brands and is the category leader in the segment. The cloud kitchen brand has already crossed the landmark figure of 1 million+ orders and is consistently rated high by consumers across all food delivery platforms. Through KPL, Ola’s Khichdi Experiment continues to share the success story of the brand and advocates the melange of Cricket and Food strongly. <div type="Youtube" id="hG9TUQTzBfI" title="Khichdi Premier League | Bengaluru Anthem" thumbUrl="https://i.ytimg.com/vi/hG9TUQTzBfI/mqdefault.jpg"></div> <div type="Youtube" id="EcoA47BSePQ" title="Khichdi Premier League | Chennai Anthem" thumbUrl="https://i.ytimg.com/vi/EcoA47BSePQ/mqdefault.jpg"></div> <div type="Youtube" id="FFXgWGCURbQ" title="Khichdi Premier League | Punjab Anthem" thumbUrl="https://i.ytimg.com/vi/FFXgWGCURbQ/mqdefault.jpg"></div> <div type="Youtube" id="e469cQZWQAY" title="Khichdi Premier League | Delhi Anthem" thumbUrl="https://i.ytimg.com/vi/e469cQZWQAY/mqdefault.jpg"></div>

Ola Food launches Khichdi Premier League to bring India's love for comfort food and cricket together

<ul><li>Reports say that Ola has shut down <keyword id="1666592" type="PERSON" weightage="20" keywordseo="Foodpanda">Foodpanda</keyword> and let go of numerous employees. </li><li>However, an Ola spokesperson said that the company remains committed to its mission of building a superior food experience to its customers.</li><li>In 2015, the company launched Ola Cafe, which only lasted for a year.</li></ul>Ola today denied media <a href="https://www.livemint.com/companies/start-ups/ola-drops-foodpanda-delivery-lays-off-several-employees-1558463350377.html">reports</a> about the ‘shutdown’ of its <keyword id="6376068" type="UNKNOWN" weightage="20" keywordseo="food-delivery">food delivery</keyword> vertical Foodpanda. “We continue to invest in expanding our facilities and kitchens, as well as our portfolio of food offerings for customers. We remain committed to our mission of building a superior food experience for millions of our customers,” said an Ola spokesperson. According to sources, Ola now has a redefined approach to food delivery with cloud kitchens – with more focus on its own brand instead of being a marketplace. With four private labels – The Khichdi Experiment, Grandma’s Kitchen, Lovemade and FLRT, sources say that Ola is actually ramping up its current 50+ cloud kitchens. The company is also looking at opening offline stores for these brands, say sources. While media reports also say that Ola has let go of numerous employees, sources say that it is hiring for its cloud kitchen business. "As part of our ongoing business repurposing initiatives, we are focused on building a portfolio of own food brands and curated food offerings through our fast expanding network of kitchens. Many of these offerings are already available in all major cities through the Ola and Foodpanda apps,” said the spokesperson. Ola had acquired Foodpanda in 2017, after its own tryst with food delivery – Ola Cafe failed. Launched in 2015, Ola Cafe shut down operations in just a year. <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/cost-cutting-is-at-top-of-the-menu-for-ola-at-foodpanda/articleshow/67717688.cms">Reports</a> have been doing the rounds since January 2019 about Ola’s rumoured to slash investments into Foodpanda. India’s food delivery industry has seen the emergence of two big players – Zomato and Swiggy. While other players like Ola and Uber, have offered food delivery along with their ride hailing services, the food vertical seems to have not taken off well because of <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/swiggy-zomato-in-top-gear-as-ride-hailing-companies-slow-down/articleshow/69405510.cms">cash burn.</a> Ola’s struggles with food delivery aside, Uber too has been barely managing to keep up with Zomato and Swiggy. In Uber’s IPO filing, it has mentioned its offering UberEats, to say that in India it competes with Swiggy and Zomato, who have a “substantial market-specific knowledge and established relationships with local restaurants, affording them significant product advantages.” See Also: <a href="https://www.businessinsider.in/ratan-tata-invests-in-ola-electric-mobility/articleshow/69199801.cms">Ratan Tata recharges Ola’s electric mobility wing – invests an undisclosed amount</a> <a href="https://www.businessinsider.in/zomato-and-swiggy-discounts-of-concern-to-indian-restaurants/articleshow/68256281.cms">In India, restaurants have a love-hate relationship with online food delivery platforms</a>

Ola denies shutting down Foodpanda, says it has a refocused approach to food delivery

<ul><li>HR Director <keyword id="14299448" type="General" weightage="20" keywordseo="ranjit-kondeshan" source="Orion">Ranjit Kondeshan</keyword> quits as a top executive.</li><li>Ola witnessed 31 top-level resignations and 40 new postings since 2020.</li><li>The high-profile exits come at a time when Ola is reportedly planning its IPO this year.</li></ul>The resignation drive of senior executives at <keyword id="4393078" type="General" weightage="20" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> continues and now, its Director HR Ranjit Kondeshan has decided to move on. According to sources, Kondeshan would depart from Bhavish Aggarwal-run electric mobility company on July 2, just 14 months after joining. According to his LinkedIn profile, Kondeshan joined Ola Electric Mobility from Visa where he worked for three years in Mumbai. Before Visa, he was Senior HR Manager at Bajaj Allianz Life. Ola Electric, facing a government probe in battery fires along with other EV players, has seen some high-profile exits in recent months. Nidhi Chaturvedi Jha quit Ola Electric as regional head in May and joined Amazon. In April, chief marketing officer Varun Dubey left the company due to "personal reasons". Earlier, Dinesh Radhakrishnan, who was the chief technology officer (CTO) at Ola Electric, moved on from the company. According to his LinkedIn profile, he was appointed CTO at Ola Electric in May last year. Meanwhile, Arun Sirdeshmukh who was head of Ola Cars, which is the used car commerce division of the company, announced his departure from the company. The high-profile exits come at a time when Ola is reportedly planning its IPO this year at a lower valuation than planned earlier as several startups' IPOs have proved to be a nightmare for the investors. Ride-hailing platform Ola this week shut down its used vehicle business Ola Cars as well as Ola Dash, its quick-commerce business, at a time when Indian companies are pouring money into the 10-15 minute grocery delivery market. The company shut Ola Cars within one years of its launch, as it focuses on its electric two-wheeler and car verticals. Ola has so far shut down Ola Cafe, food panda, Ola Foods, and now Ola Dash. Ola now aims to invest more towards its electric car, cell manufacturing, and financial services businesses. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/lays-kurkure-and-bingo-are-taking-over-indian-snacks-like-aloo-bhujia/articleshow/92508625.cms">Lay’s, Kurkure and Bingo are taking over Indian snacks like Aloo Bhujia, Murukku</a> <a href="https://www.businessinsider.in/tech/enterprise/how-it-works-internet-of-things-iot-for-manufacturing/articleshow/92509382.cms">How IT Works: Internet of Things (IoT) for manufacturing</a>

Ola Electric’s HR Director quits after fourteen months as top executives depart

Ride-hailing platform <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> has shut down its used vehicle business <keyword id="3295694" type="General" weightage="50" keywordseo="ola-cars" source="Orion">Ola Cars</keyword> as well as Ola Dash, its quick-commerce business, at a time when Indian companies are pouring money into the 10-15 minute grocery delivery market. The company shut Ola Cars within one years of its launch, as it focuses on its electric two-wheeler and car verticals. Ola has so far shut down <keyword id="2773874" type="General" weightage="50" keywordseo="ola-cafe" source="Orion">Ola Cafe</keyword>, food panda, Ola Foods, and now Ola Dash. "Ola has reassessed its priorities and decided to shut down Ola Dash - its quick commerce business. Ola will also be reorienting its Ola Cars business to focus more on strengthening the go-to-market strategy for <keyword id="4393078" type="General" weightage="50" keywordseo="ola-electric" source="Orion">Ola Electric</keyword>," the company said in a statement. It added that Ola Cars' infra, technology and capabilities will be "repurposed towards growing Ola Electric's sales and service network". Ola now aims to invest more towards its electric car, cell manufacturing, and financial services businesses. Ola Dash shuts down at a time when India's quick commerce market is all set to witness 15 times growth by 2025, reaching a market size of nearly $5.5 billion. The total addressable market for quick commerce in India stands at $45 billion, and urban areas are driving this market on the back of mid-high-income households. <keyword id="830092" type="General" weightage="50" keywordseo="zomato" source="Orion">Zomato</keyword> on Friday poured Rs 4,447 crore into acquiring quick-commerce grocery delivery platform Blinkit. In December 2021, Swiggy announced to pour $700 million into Instamart. Last month, 10-minute delivery platform Zepto raised $200 million, taking its valuation to around $900 million. Ola Electric is also facing scrutiny over faulty batteries in its electric two-wheelers, among other EV players like Okinawa Autotech, Pure EV, Jitendra Electric Vehicles, and Boom Motors, by the government. The Bureau of Indian Standard (BIS), which comes under the Union Consumer Affairs Ministry, has published the "performance standards for electronic vehicle batteries" in a bid to keep a strict control over the manufacturing of EV batteries. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/india-might-be-used-as-a-back-door-for-russian-oil-say-media-reports/articleshow/92480791.cms">India might be used as a 'back door' for Russian oil, say media reports</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/netflix-confirms-an-ad-supported-tier-is-coming-to-its-streaming-service-by-year-end/articleshow/92438291.cms">Netflix confirms an ad supported tier is coming to its streaming service by year end</a>

Ola shuts it used car and quick commerce businesses

<keyword id="14403260" type="General" weightage="20" keywordseo="Shikharr-Sood" source="Orion">Shikharr Sood</keyword>, the head of <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword>'s Talent Acquisition, and in charge of talent acquisition for the entire Ola Group, is now reportedly the latest executive to leave the firm. His resignation comes amid several resignations by top executives. Several former executives said that product complaints, unit closures, and 'act fast, think later' culture has led to recent Ola troubles, CNBC reported, adding that the company is yet to respond to the query on Sood's resignation. Meanwhile, a recent media report also said that the ride-hailing platform Ola is planning to lay off up to 500 employees across departments as it aims to cut costs and streamline operations amid the ongoing funding winter. Meanwhile, a recent report said that the ride-hailing platform Ola is planning to lay off up to 500 employees across departments as it aims to cut costs and streamline operations amid the ongoing funding winter. According to reliable sources, SoftBank-backed Ola has asked senior executives to find employees in their teams on a performance basis who can be asked to go. The company is reportedly looking at "leaner and consolidated teams" to keep its "strong profitability intact". Ola, which has delayed its IPO plans, has also reportedly shopped its global investment plans to further expand overseas. The company currently has nearly 1,100 employees in its core ride-hailing business and directly competes with Uber. Last month, Ola shut down its used vehicle business <keyword id="3295694" type="General" weightage="50" keywordseo="ola-cars" source="Orion">Ola Cars</keyword> as well as <keyword id="13052888" type="General" weightage="50" keywordseo="ola-dash" source="Orion">Ola Dash</keyword>, its quick-commerce business. The company shut Ola Cars within one year of its launch, as it focuses on its electric two-wheeler and electric car verticals. Ola has so far shut down <keyword id="2773874" type="General" weightage="50" keywordseo="ola-cafe" source="Orion">Ola Cafe</keyword>, food panda, Ola Foods, and now Ola Dash. Meanwhile, <keyword id="4393078" type="General" weightage="50" keywordseo="ola-electric" source="Orion">Ola Electric</keyword>, facing a government probe into battery fires along with other EV players, has also seen some high-profile exits in recent months. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/not-just-crude-gold-silver-and-even-wheat-and-edible-oil-prices-are-going-down-in-india/articleshow/92748130.cms">It’s not just crude, gold, silver and even wheat and edible oil prices are going down</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/dmarts-growth-momentum-could-be-impacted-by-high-inflation/articleshow/92747965.cms">DMart has more stores and no disruptions like it wanted – and investors are excited</a>

Ola's talent acquisition head Shikharr Sood quits too

<ul><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword>’s recently concluded Campus connect challenge saw 6000 registrations. </li><li>Students had to present business cases across Ola’s four focus areas – mobility, self-driven cars, dark kitchens in food business and financial services. </li><li>Ola plans to hire 150 students from premier institutes across India this year. </li></ul>Indian ride hailing unicorn Ola had recently conducted a campus connect challenge which received 6,000 registrations from students across India’s top business schools. Through the challenge, students were asked to submit project ideas/proposals across four business cases – mobility, self-driven cars, dark kitchens in food business and financial services. The winners of the challenge were Garima Pandey and Dimple Chandra from Mudra Institute of Communications, Ahmedabad (MICA). They presented a solution for the unique problem of streamlining driver partners and customer transactions at airports across cities. Ola is also an active campus recruiter. This year, the company plans to hire 150 students from premier institutes across India. “Ola strives to create a growth-led, entrepreneurial culture, where employees get to jump in head first and take control of their career paths very early on. They are encouraged to solve the real world business and technology problems across diverse verticals like mobility, financial services, electric mobility, food, skilling amongst others,” said Rohit Munjal, CHRO at Ola.

Ola offers internships and a prize money of ₹3 lakhs to winners of its campus challenge

<ul><li><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> co-founder <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> is pumping $91 million into the ride-hailing <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword>. </li><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword>’s valuation stays at $5.7 billion. </li><li>The cab-hailing app is reportedly looking to venture into the e-pharmacy segment too.</li></ul>Flipkart co-founder Sachin Bansal has reportedly made his first investment post his exit from the e-tail giant, pumping $91 million into Indian cab hailing <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> <a href="https://www.moneycontrol.com/news/business/startup/flipkart-founder-sachin-bansal-takes-a-21-million-ride-in-ola-3387561.html">Ola</a>, which appears to be on a massive expansion spree. Bansal announced his exit from Flipkart after its $16 billion acquisition by Walmart last year. Sachin Bansal, along with former Flipkart Group CEO Binny Bansal, famously grew Flipkart from a two-bedroom apartment business to one of <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>’s biggest e-retail giants. He reportedly sold his 5.5% stake for $1 billion in the sale Bansal had initially pumped in $21million which got him 70,588 series J preferred shares at a price of <a href="https://www.livemint.com/Companies/keHGGkLpfiI2WacfOCysCI/Sachin-Bansal-buys-stake-in-Bhavish-Aggarwals-Ola.html">₹21,250 per share.</a> The investment is said to be a part of Ola’s series J funding round. Ola could be raising <a href="https://yourstory.com/2019/01/ola-set-raise-2b-focus-evs-foodpanda-international-markets/">$2 billion</a> in the round. Ola's current investors include the likes of Tencent, Softbank, Hong Kong-based Sailing Capital among others. It is also reportedly looking at raising money from Singapore-based Temasek. However, with this investment, the valuation of the company stays the same at $5.7 billion. Bansal is reportedly putting in his own money, and not from the new $1 billion VC fund he is said to be raising. It will give Ola a financial heft in fighting its global rival Uber. Not just a cab company Ola, which has thus far focused on cab hailing, has been in a race to become India’s biggest startup and looking at venturing into other businesses. It has experimented with the Electric Vehicle market recently, bringing in <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/indian-ride-hailing-firm-ola-to-launch-10000-electric-vehicles-over-12-months/articleshow/63780448.cms">10,000</a> EV rickshaws on to Indian roads. Earlier in 2015, the company also tried its hand in food delivery with Ola Cafe. However, it had to shut down operations in just a year. Later in 2017, Ola acquired food delivery startup Foodpanda to stay in the game. Talks were also doing the rounds that Ola is also looking at entering the e-pharmacy segment with the acquisition of Bengaluru-based Myra Medicines. See Also: <a href="https://www.businessinsider.in/indias-two-startup-icons-switch-to-the-other-side-as-venture-capitalists/articleshow/67420444.cms">India’s two startup icons switch to the other side — as venture capitalists</a> <a href="https://www.businessinsider.in/indian-unicorn-flipkarts-board-approves-15-billion-deal-with-walmart/articleshow/64027810.cms">Indian unicorn Flipkart's board approves $15 billion deal with Walmart</a> <a href="https://www.businessinsider.in/how-flipkart-went-from-being-an-online-bookseller-to-indias-biggest-e-commerce-story/articleshow/64100266.cms">How Flipkart went from being an online bookseller to India’s biggest e-commerce story</a>

Watch out Uber. Sachin Bansal gets Ola share after selling Flipkart

New Delhi, Mar 30 () Ride-hailing major Ola is in discussions with various state governments and the Centre to offer its transportation and kitchen services amid the 21-day lockdown across the country.Ola, which is already working with the Karnataka government, is in talks with other States and the Centre to extend its transportation services to help facilitate transit of healthcare professionals, senior citizens, government officials and quick response teams who need mobility options.Ola co-founder and CEO Bhavish Aggarwal in a tweet said: "Thank you Sir! We're humbled to join hands with GoK and other state Governments in offering all support we can in these times. @Olacabs driver-partners and @Olafoods_India kitchen staff are proud to join various essential service providers in #IndiafightsCorona #StrongerTogether".Karnataka Deputy Chief Minister C N Ashwath Narayan in a tweet said Ola has agreed to provide 500 vehicles for COVID-19 related activities in Karnataka.He added that these vehicles will be used for commuting by doctors and for COVID-19 related activities.According to sources, Ola is engaged in conversations with Tamil Nadu, Maharashtra, Delhi, Uttar Pradesh, Gujarat and Telengana, and similar proposals have also been sent to Health Ministry and Prime Minister's Office.A source said government departments are helping with required permits and procurement of protective gear wherever applicable to ensure safety of the drivers. Also, driver earnings on a cost to cost basis are being provided by the government.Ola has also offered to prepare food from its cloud kitchens (over 40 in six cities) and transportation of the food to major nodal centres for the government to supply to medical professionals, daily wagers, migrant labourers, and security teams on ground, the source added.An e-mail sent to Ola did not elicit a response.On March 23, Prime Minister Narendra Modi announced a three-week national lockdown as part of efforts to combat the coronavirus outbreak in the country. Over 1,000 people in India have tested positive for coronavirus so far with 29 deaths being reported.With the implementation of the lockdown , the government has allowed only people in essential services like healthcare, banking and media to commute. Limited mobility options have made it difficult for these people to travel to their workplace. SR ANUANU

COVID-19: Ola in talks with States, Centre to offer vehicles, kitchen services

<ul><li><keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword> is said to be preparing a $100 million investment in the cab-hailing firm, according to a report in the Economic Times. </li><li>Last month, Ola raised raised $50 million from a state-backed Chinese investment fund and a Hong Kong-based private equity firm, giving it a valuation of over $4 billion. </li><li>Ola is looking to raise fresh capital to facilitate its overseas expansion plans and boost its domestic food delivery business. </li></ul>Raising capital for expansion plans doesn’t seem to be a problem for Ola. Barely a month after it <a href="https://www.livemint.com/Home-Page/hjEZYQ3lV0p1LXuSOUoiGK/Ola-raises-50-million-from-new-Chinese-investors-at-43-bi.html">raised $50 million</a> from a state-backed Chinese investment fund and a Hong Kong-based private equity firm, <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/sachin-bansal-may-back-ola-with-100-million-investment/articleshow/66156948.cms">a report </a>in the Economic Times states that the Indian ride-hailing firm could receive up to $100 million (₹7.4 billion) from Sachin Bansal, one of the co-founders of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>. The $50 million investment last month gave Ola a valuation of over $4 billion. It came as part of the ride-hailing firm’s plan to raise $1 billion in fresh capital to facilitate its overseas expansion plans as well its boost its food delivery business and continue its domestic rivalry with <keyword id="1042120" type="PERSON" weightage="20" keywordseo="Uber">Uber</keyword>. It recently commenced operations in <a href="https://www.businessinsider.com.au/uber-ola-launch-melbourne-2018-4">several Australian cities</a> and<a href="https://www.livemint.com/Companies/Gb1LhciheDr9j4waCCOgSO/Ola-launches-services-in-UK.html"> the UK </a>and is set to launch in New Zealand this month. The UK launch in August 2018 was speculated to be a precursor to an eventual expansion into other European markets. The company plans to be operational <a href="https://www.businesstoday.in/current/corporate/ola-plans-to-reach-50-global-cities-by-2019-hunts-for-investors/story/284236.html">in 50 major cities </a>across the world by next year. Meanwhile, Bansal is flush with cash and is looking for ways to spend it. While the Ola investment represents a change of pace from his relatively modest investments in the past, he is said to be mainly interested in taking significant stakes in early-stage companies at the moment. The 37-year old earned close to $1 billion from the sale of his 5.5% stake in Flipkart to <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>. The transaction was completed in August. Bansal left the Indian e-commerce company shortly after Walmart’s takeover of Flipkart was finalised in May. According to media reports, Walmart <a href="https://economictimes.indiatimes.com/small-biz/startups/features/sachin-bansal-quits-flipkart-as-walmart-wanted-only-one-founder-on-board/articleshow/64103047.cms">was not keen</a> on retaining both of Flipkart’s co-founders, hence one of them had to leave. Ola will reportedly facilitate Bansal’s investment through the issuance of new shares and in smaller measure, the sale of existing shares. The deal represents a melding of two of India’s foremost entrepreneurs - Bansal and Bhavish Agarwal, the CEO of Ola. Agarwal has reportedly been <a href="https://www.livemint.com/Companies/xBREbzT0x6b0ighbICzMiJ/Ola-boardroom-row-pits-SoftBank-against-Bhavish-Aggarwal.html">engaged in a tussle </a>with the cab service’s main investor, Softbank, since May for control of the company. Bansal is likely an ally in this regard, as Agarwal needs fresh funding but doesn't want to raise it from Softbank, because that will increase the Japanese company's stake.

One of the co-founders of Flipkart could be readying a $100 million investment in Ola

<ul><li>The ride hailing app has acqui-hired Bengaluru-based <keyword id="7979481" type="UNKNOWN" weightage="20" keywordseo="pikup-ai">Pikup.ai</keyword>.</li><li>Pikup.ai uses <keyword id="107950" type="TECHNOLOGY" weightage="20" keywordseo="artificial-intelligence">artificial intelligence</keyword>, computer vision and sensor fusion to provides AI-powered solutions for businesses.</li><li>This acquisition comes right after <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> set up a technology centre in the Bay Area in the US to drive next gen technological solutions in mobility.</li></ul>Indian ride-hailing unicorn Ola has acqui-hired (acquired along with the team) Pikup.ai, an artificial intelligence startup, for an undisclosed amount. Pikup.ai uses artificial intelligence, computer vision and sensor fusion to provides seamless AI-powered solutions for businesses. “As we advance on our mission to build mobility for a billion people, we are investing in futuristic technology solutions that will shape the future of mobility in India and the world,” said Ankit Bhati, Co-founder &amp; CTO, Ola in a statement. Ola has been investing heavily into technologies for its Ola Mobility wing. It had also recently set up a technology and innovation centre in the Bay Area. The company is planning to hire over 150 engineers at the new centre, to develop next-generation technologies in mobility. These engineers will be hired across domains like Artificial Intelligence (AI), machine learning, data science, engineering, and product development. Ola has made several acquisitions in the past – food delivery startup Foodpanda, logistics startup Ridlr, rival ride hailing company Taxiforsure, transportation startup Geotagg and mobile payments platform Qarth. Ola has been racing ahead in the Indian mobility space, as it continues to be in a fight for the finish with its arch rival Uber. Ola isn’t just fighting Uber in India but also in global markets like Australia, UK etc. Both Ola and Uber have been investing into new technologies with multiple acquisitions. Uber had recently <a href="https://www.geekwire.com/2019/uber-acquires-seattle-startup-mighty-ai-fuel-push-self-driving-cars/">acquired</a> Seattle-based startup Mighty AI, taking its self driving car vision ahead.

Ola buys another startup for Artificial Intelligence and Machine Learning solutions – beefing up for its fight with Uber

After taxi and auto services, Ola is now preparing to start shuttle bus services and is aggregating tourist and chartered buses for the same. 
 
In a bid to emerge as a complete urban transport solution provider, Ola is expected to launch the bus service in next two months. Like other services, Ola Bus will also be integrated in the same app from which people choose between autos and cabs. 
 
Bhavish Aggarwal, co-founder and CEO of Ola, in a statement, said Ola is focussed on building mobility for a billion people. 
 
A senior company executive told Economic Times that Ola will not own any of the buses and use tourist and chartered busses to aggregate supply. 
Reportedly, Ola’s estimated worth is around Rs 15,700 crore, or $2.5 billion. 
 
"Passengers will be able to make bookings by entering the desired destination and time preference; the app will then indicate the closest bus with available seating,” the senior executive told ET. 
 
Sundeep Sahni, a vice-president for new initiatives, would rollout the bus services. 
 
As per the experts, Ola's bus service will expand its user base and boost revenue. 
 
Founded by IIT-Bombay graduates Bhavish Aggarwal and Ankit Bhati, the five-year-old startup is estimated to clock a revenue run rate of around $450-500 million, and is aiming for gross revenue of $1 billion by the end of 2015. 
 
"They started with taxis and moved to autos. The company wants to establish itself as a transport technology platform rather than be dependent on one mode," Jaspal Singh, cofounder of Valoriser Consultants, a market research firm for transport companies told the financial daily. 
 
As per reports, nearly 1.5 lakh buses transport around 70 million people every day and 23 million people travel by train. 
 
Apart from venturing into several new categories, including food and grocery delivery, Ola is presently working on carpooling, ecommerce on-demand deliveries and logistics. 
 
(Image: Indiatimes)

You may soon be hopping on to an Ola-bus!

After getting its hands on a whopping $400 million deal in April this year, now online cab service provider, <a href="http://www.businessinsider.in/searchresult.cms?query=Ola">Ola</a>, is all set to get another huge sum of Rs 3,150 crore ($500 million). 
 
As reported by Economic Times, officials who were directly aware of the development informed that the deal might add to the <a href="http://www.businessinsider.in/On-Demand-Car-Service-Uber-May-Be-Raising-At-A-Massive-3-Billion-Valuation-Or-Higher/articleshow/21347585.cms">valuation </a>of the company. The current valuation of <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> is $2.5 billion which might go up to $4.5 billion. 
 
The official, on condition of anonymity, informed ET, "The deal could be finalized in about 2-3 weeks." "As <a href="http://www.businessinsider.in/searchresult.cms?query=Uber+">Uber </a>gets more aggressive in India, Ola will need to burn more cash to maintain its market leadership position," another source further added. 
 
An Ola executive said that the firm is targeting to raise $550 million at a post-money valuation of $5 billion. Reports of bringing new investors onboard have also been heard. 
 The Bengaluru based firm, however, denied making any comments on the matter. Ola, which is a <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> backed company have investors including Russian billionaire <keyword id="303107" type="PERSON" weightage="20" keywordseo="Yuri-Milner">Yuri Milner</keyword>'s DST Global, Singapore's GIC and New York based hedge fund Falcon Edge and also Tiger Global, Steadview Capital and <keyword id="144381" type="COMPANY" weightage="20" keywordseo="Accel-Partners">Accel Partners</keyword> are major investors. 
 
Ola, so far, has raised around $676 million in six funding rounds from over a dozen investors. 
 
"The company needs cash to invest further in new businesses as well as continued discounting (for customers)," informed a source. 
With acquiring another taxi-service provider <a href="http://www.businessinsider.in/searchresult.cms?query=TaxiForSure+">TaxiForSure </a>earlier this year, Ola, currently, is present in around 10o Indian cities. 
 
One of Ola’s biggest rivals, San Francisco-based Uber, which is valued at an estimated $50 billion, has grown swiftly in India since its launch in Bengaluru in 2013. It is now present across 20 cities. 
 
The company is currently working on several new initiatives, including carpooling, on-demand food and grocery deliveries, on-demand bus aggregation and logistics. 
 Ola's spurt in revenues has been aided by the $200-million acquisition of rival <keyword id="1428790" type="COMPANY" weightage="20" keywordseo="TaxiforSure">TaxiForSure</keyword>, whose revenues have doubled since the deal closed in March this year. But Ola still accounts for over 80% of the revenue of the combined entity. Ola currently gets over 80% of its bookings through its mobile application. 
 
Image: indiatimes

Ola to raise 3,150 crore to double valuation, in talks with investors

New Delhi, Nov 28 () Ride-hailing major Ola is undertaking a restructuring exercise ahead of its planned IPO and the move could impact up to 250 roles, according to sources.
 The company, which has been focussing on profitability along with building up scale as it expands into international markets, will accommodate some of these employees in other business units like food, electric and financial services, sources close to the development said
 When contacted, an Ola spokesperson said the company's "organisational redesign aims to rightsize all our operations as well as leverage skills sets and experience of mobility employees in available positions in new business verticals".
 The spokesperson, however, did not comment on the number of employees that could be impacted by the exercise.
 Ola is estimated to have about 4,500 people on its payrolls.
 "The resultant working model will form the foundation of the next chapter in Ola's growth journey as the company continues to grow its businesses. We also continue to attract the best talent across the board to support our growth and ambition," the spokesperson said.
 The spokesperson added that the restructuring is aimed at becoming "more nimble and have a sharper focus on growth and profitability".
 The development comes at a time when Ola, which is locked in a battle for market leadership in the Indian market against American rival Uber, narrowed its standalone losses in FY19 to Rs 1,160.27 crore from Rs 2,676.70 crore in the last financial year.
 ANI Technologies (which runs Ola) saw its total income rising close to 16 per cent to Rs 2,155.21 crore in FY19 from Rs 1,860.61 crore in the previous fiscal, as per regulatory documentrs filed with the Corporate Affairs Ministry.
 Its employee benefits expense has been lowered to Rs 413.83 crore in FY19 from Rs 495.69 crore in FY18.
 These are standalone numbers of ANI Technologies and do not include financials of other group entities like OLA Fleet Technologies, Ola Financial Services (Ola Money), Ola Electric Mobility, and international operations.
 Sources said Ola is looking at listing on Indian bourses in the next 18-24 months, and profitability would be an important criteria for the process.
 Ola can get listed on the BSE and NSE either directly or via Securities and Exchange Board of India-regulated Innovator's Growth Platform (IGP) for SMEs and startups.
 An IPO will help Ola investors like SoftBank, Tiger Global and Steadview Capital to exit or partially sell their stake in the company to return funds to their shareholders.
 Founded in 2011 by Bhavish Aggarwal and Ankit Bhati, Ola offers services in more than 110 cities and claims to have over 10 lakh driver-partners across cabs, auto-rickshaws, and taxis on its platform. In 2018, Ola forayed into international markets like Australia, the UK and New Zealand. It competes with Uber in these markets as well. SR MR

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