Page 3 - Ola

Ola Cabs CFO Kartik Gupta quits seven months after taking charge

Before joining Ola, Gupta worked as the Vice President and Regional CFO of Asia Pacific, Middle East and Africa at Procter and Gamble for over 17 years

Ola founder's latest bet on 'cloud' and free offer shakes tech industry

The cloud service is available to developers who are presently using Microsoft's Azure, with the condition that they won't return to Azure again

Ola CEO Aggarwal shuns Microsoft, says India needs its own tech platforms

Rebuking Microsoft and its subsidiary LinkedIn, Ola CEO Bhavish Aggarwal in a post said India needs to establish its own tech platforms to shun the chances of being "culturally subsumed" and "governed" by western big tech monopolies. Boycotting Microsoft, Aggarwal said Ola -- an existing customer of Microsoft Azure -- will no longer avail of its services, and will shift its entire workload to its homegrown Krutrim cloud in a week. The backlash comes after LinkedIn removed the CEO's post that called out LinkedIn's AI for "imposing a political ideology on Indian users". He had shared a screenshot from a generative AI response that used "they/their" pronouns to describe Aggarwal. Berating the "pronoun illness", he had said he hopes the practise doesn't reach India. "...the pronouns issue I wrote about is a woke political ideology of entitlement which doesn't belong in India. I wouldn't have waded into this debate but clearly LinkedIn has presumed Indians need to have pronouns in our

Ola Cabs CEO Hemant Bakshi quits; company to lay off 10% employees

Ola Cabs is reportedly planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion

Telangana cab union announces 'No AC campaign' amid soaring temperatures

Union says working with Uber, Ola, Rapido are getting diminishing returns for each trip they make

Layoffs by Indian tech startups dip 60% in Jan-March this year, says report

Tech startups let go of more than 2,000 workers in the first quarter as funding capital reduced

Setting the pace: Ola Electric sees momentum continuing after record March

Ola's CMO, Anshul Khandelwal, also pointed out that there have been fundamental changes in the buying patterns of customers - for instance, more women are now buying electric vehicles than earlier

Large representation of Indian data differentiates us: Krutrim's Ravi Jain

Krutrim's head of strategy Ravi Jain said what differentiates the AI platform from others is that it uses Indian data including different languages to train its models

Uber way behind Ola in India: Bhavish Aggarwal responds to Khosrowshahi

Uber chief had said Ola was foraying into other areas but Uber was focused on ride-sharing business

Bhavish Aggarwal's Krutrim rolls out OpenAI's ChatGPT rival in beta mode

During the announcement of the fundraise, Aggarwal had said, "India has to build its own AI, and at Krutrim we are fully committed to building the country's first complete AI computing stack"

Ola Electric cuts its scooter prices by up to Rs 25,000. Details here

Ola Electric's chairman and managing director Bhavish Aggarwal, in a recent tweet, announced a significant price reduction on their range of e-scooters

Ola sets up cab zone at Chennai int'l airport for airline passengers

Ride-hailing platform Ola Mobility has set up Ola Zone at the Chennai International Airport here, aimed at serving the passengers who need a ride for their local journeys, the company said on Wednesday. The launch of service at the airport comes in the backdrop of the memorandum of understanding signed between the Airports Authority of India and OLA Cabs with an intent to provide and ensure the presence of multiple facilities of ground transportation for the convenience of passengers traveling through the airports. The Ola Zone, similar to the cab services currently available at the airport, allows customers to book a ride at the Ola Zone to take up their local journey, instead of availing the services through the Ola mobile application. Booking assistance would be provided at the dedicated kiosks for the travelers who would receive all charges in a single bill, while the drivers would be able to benefit from a cashless checkout system, eliminating payments at entry and exits of the

Vanguard slashes Ola's valuation by another 29% to $1.88 billion

Last year in February, Vanguard marked down the valuation of ANI Technologies by about 34 per cent to $4.8 billion from $7.3 billion

Vanguard cuts valuation of Ola Cabs by about 30% at about $1.88 billion

Ola Cabs was co-founded by Bhavish Aggarwal in 2010 and found immediate backing from marquee investors such as Softbank and Tiger Global, besides Vanguard

Uber, Ola will have to fall in line as Karnataka govt fixes fare for taxis

City taxis and those operating through app-based aggregators like Uber and Ola will now have to follow the new fare structure announced by the Karnataka Transport Department. With this new order released by the department on Saturday, fares for app-based cab aggregators as well as city taxis would be uniform and the revised fares would be applicable across the state with immediate effect. Prior to this, the fares were different for the two categories of taxis. According to the new fare structure, cabs have been categorised into three classes based on the cost of the vehicle. For vehicles whose purchase cost is Rs 10 lakh or below, the minimum fare has been fixed at Rs 100 for up to four km with a charge of Rs 24 for every additional km. For those costing between Rs 10 lakh and Rs 15 lakh, the minimum fare is Rs 115, and per km cost Rs 28. For those costing above 15 lakh, minimum fare is set at Rs 130 with Rs 32 charged for each additional kilometre. The order clearly states that no

Bhavish Aggarwal's AI startup Krutrim turns unicorn after raising $50 mn

The AI startup is the third venture helmed by Aggarwal to achieve a $1 billion valuation, after mobility firm Ola and electric vehicle manufacturer Ola Electric

Ola founder Bhavish's Krutrim becomes first $1 billion Indian AI startup

It becomes the first Indian AI startup to gain a billion-dollar valuation, a mere month after debuting a large language model, the firm said in a blog post

Ola FY23 results: Net loss narrows to Rs 772 cr, revenue from ops rises 48%

ANI Technologies, which operates under the Ola brand, on Thursday said its consolidated net loss narrowed to Rs 772.25 crore in the fiscal 2023, according to a regulatory filing. The company posted a consolidated loss of Rs 1,522.33 crore in the financial year (FY) 2022. The consolidated revenue from operations increased by about 48 per cent to Rs 2,481.35 crore in FY23 from Rs 1,679.54 crore in FY22. On a standalone basis, ANI Technologies, which comprises a ride-hailing business, reported a narrowing of loss to Rs 1,082.56 crore in FY23 compared to a loss of Rs 3,082.42 crore in FY22. The revenue from operations of ANI Technologies on a standalone basis increased by about 58 per cent to Rs 2,134.94 crore in FY23 from Rs 1,350.03 crore in FY22. Ola Mobility business in India posted an operational profit of Rs 250 crore in FY23 from EBIDTA ( earnings before interest, taxes, depreciation, and amortisation) loss of Rs 66 crore. At the group level, Ola reported a narrowing of operat

Ola Electric gets domestic value addition certificate under auto PLI scheme

Ola Electric on Wednesday said it has received domestic value addition certificate under the production linked incentive scheme for the automobile and auto component industry. The company successfully met the domestic value addition (DVA) criteria of 50 per cent among others as mandated by the Union Ministry of Heavy Industries, under the Production Linked Incentive (PLI) scheme for automobile and auto component industry, Ola Electric said in a statement. The certification has been granted by the Automotive Research Association of India (ARAI) after testing of the product and checks on the localisation standards of the components, it added. The company claimed it has become the first Indian two-wheelers company to receive the DVA certificate under the PLI scheme. "The PLI certification is a testament to our vertically integrated manufacturing capabilities and a significant milestone in our quest to accelerate India's journey towards clean mobility," a spokesperson of Ola Electric .

Ola's parent ANI Technologies posts Rs 2,800 crore revenue in FY23

The firm also has cut down its losses by nearly 50 per cent to Rs 772 crore during FY23 compared to Rs 1,522 crore in FY22, according to media platform Entrackr