The thrill of driving at top speed is unparalleled. Ask Ola of ANI Technologies. Founded in 2010 by Bhavish Aggarwal and Ankit Bhati, the radio taxi service turned ride-hailing app became a unicorn in less than five years. Today, that company is valued at $6.45 billion, with major investors including Tiger Global, Matrix Partners and Softbank, which has also backed its biggest rival Uber. And on its home ground, it has first mover advantage over the US pioneer, which operates in 71 countries and entered India in 2013.
The ride-hailing industry’s drive has come to a screeching halt. Can Ola survive?
Mounting losses, imperfect bets and tough lessons. The taxi company was just about to prove its worth, when the pandemic threw a spanner in