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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. Read Also about other Personalities - <a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">Facts about Ratan Tata</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Ola founder Ritesh Agarwal</a> <a href="https://www.businessinsider.in/unknown-facts-about-flipkart-founder-sachin-bansal/articleshow/70494717.cms">Flipkart founder Sachin Bansal</a>

Interesting facts about Ola founder Bhavish Aggarwal

New Delhi, <keyword id="4393078" type="General" weightage="20" keywordseo="Ola-Electric" source="Orion">Ola Electric</keyword> on Thursday said it has raised Rs 3,200 crore from Temasek-led investors and State Bank of India. The company announced the successful closure of the funding round from Temasek-led investors and State Bank of India. The funds raised would be utilised towards expansion of <keyword id="6354720" type="General" weightage="20" keywordseo="Ola" source="Orion">Ola</keyword>'s EV business and setting up India's first lithium-ion cell manufacturing facility at Krishnagiri, Tamil Nadu, the company said in a statement. The Bengaluru-based firm aims to accelerate its growth by ramping up its two-wheeler manufacturing capacity, launching electric motorcycles followed by electric cars and fast-tracking the construction of gigafactory, it added. "At Ola, our vision is to end ICE (internal combustion engine) age in automobiles and our upcoming gigafactory will be a big leap in India's journey towards becoming a global EV hub. We are committed towards developing core technologies in EVs and cell and are rapidly scaling up manufacturing to further accelerate the transition to sustainable mobility," Ola Electric Founder &amp; CEO Bhavish Aggarwal said. Ola Electric was selected by the government under its ambitious cell PLI scheme, receiving a maximum capacity of 20 GWh.

Ola Electric raises Rs 3,200 cr to fund EV business

New Delhi: <keyword id="21530712" type="General" weightage="100" keywordseo="Ola-Founder-Bhavish-Aggarwal" source="keywords">Ola Founder Bhavish Aggarwal</keyword> is placing bold bets on new-age technologies with a view for <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> to be at the forefront of the current global <keyword id="22912054" type="General" weightage="20" keywordseo="tech-transition" source="keywords">tech transition</keyword> led by AI, and build <keyword id="22912488" type="General" weightage="20" keywordseo="jobs-of-the-future" source="keywords">jobs of the future</keyword> in the country. In an interaction with PTI editors at the agency's headquarters here, he said the private sector has to do the bulk of job creation, step up and do more, while creating an enabling environment and correcting imbalances, such as that of trade, are the responsibility of the government. Aggarwal also supported the government's move to offer fiscal incentives to global EV makers, including Tesla, through the new EV policy saying it is important for India to attract all kinds of investment, and globally established players will help in the development of the EV ecosystem in the country. The group's newly-listed entity <keyword id="19945904" type="General" weightage="20" keywordseo="Ola" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola" meta.hostid="83" meta.entityid="Ola">Ola</keyword> Electric aims to make India a global electric vehicle (EV) hub but the country has to invent an EV and energy transition paradigm for itself based on its needs as the world cannot achieve a sustainable future without India, he added. "There is a global technology transition happening and AI is a very important technology of the future, and we in India need to lead this journey. If you look at the current state, I think we are still adopters of somebody else's technology paradigms, especially in the digital world," Aggarwal said, explaining why the Ola group had set up AI start-up Krutrim last year. One of the things in Krutrim is to build AI models on Indian data, which is more attuned to Indian use cases, Indian paradigms, he said, adding, "We are making our own AI, on our own cloud, on our own chip." Despite India producing 20 per cent of the world's digital data at present, he lamented that the country does not fully own the data, as 80 per cent are stored outside, which are then processed into AI and "brought back into India and sold to us in dollars". When asked about concerns over AI leading to job losses, he allayed the apprehension saying that the IT boom created jobs in India when people feared that computers would take away jobs, and AI is a similar tool. "AI is not going to replace anyone. Maybe that future is a few decades away... We don't need to get anxious about that future right now. We need to, as a country, see that AI is going to amplify productivity. If we don't get onto the bandwagon, we will be left behind...," he asserted. In his view, Aggarwal said the way forward is for India to become experts in future technology. "Future technologies bring with it jobs of the future, supply chain of the future. And if we are global leaders, we are the fastest adoptive market of future technologies (then) jobs of the future will be built in India, supply chains of the future will be built in India. This is the only way... If we focus on protecting the past, you remain uncompetitive," he added. Sharing his take on employment generation in India, Aggarwal said, "I actually believe the private sector has to do the bulk of the job creation. The government's job is to create the enabling environment, create the fundamentals, help correct imbalances wherever they are, be it trade imbalances, etc and incentivise wherever it needs to be incentivised, like the PLI schemes." The government's steps such as the employment-linked incentives will also encourage private industry, he said, adding "But fundamentally the private sector has to step up and do more". Asked if the government is doing enough to create that ecosystem for the private sector, Aggarwal said, "I'm not in the government, so I want to put the limelight on ourselves. Is the private sector doing enough? I think we all can do more, and I'm on the same page. We all need to do more." In response to a query on his views over the government in extending the fiscal concession that companies like Tesla have been demanding from India, he said, "It is very important for India to attract all kinds of investment, especially (from) world leading companies. "Tesla is a best in class company. The more companies like these invest into India, the better it is for India, in a broad sense as well for the industry." He further said, "The (EV) ecosystem, including my company, will benefit from it, because it will raise the bar on expertise, on excellence, on talent, everything..." About the newly-listed entity Ola Electric, he said, "Our mission at Ola electric is to really make India a global EV hub." The company will build products such as electric two and three-wheelers that Indians need for the country to be able to invent an EV and energy transition paradigm for itself, different from the current global solution for sustainability that is focussed on electric luxury cars, Aggarwal added. On Ola Consumer, he said the ride-hailing mobility vertical is fairly profitable, while it is investing into the new e-commerce for which it has partnered with ONDC.

India needs to lead global tech transition, build jobs of the future: Ola Founder Bhavish Aggarwal

With the start-up boom, increasing number pf entrepreneurs are coming on board. So much so that they are entering the super-rich list too. The debutants include <a href="http://www.businessinsider.in/You-may-soon-be-hopping-on-to-an-Ola-bus/articleshow/48155360.cms">Ola</a> founders Ankit Bhati, 28, and Bhavish Aggarwal, 29, who are also the youngest on the list. With their personal fortunes estimated at Rs 2,385 crore each, the duo are jointly ranked 238th.
 

	While the top spots are occupied by the old players, <a href="http://www.businessinsider.in/Reliance-Capital-Nippon-Life-Insurance-To-Start-A-Commercial-Bank-In-India/articleshow/41437313.cms">Reliance Industries</a> chairman <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> ranked numero uno with a net worth of Rs 1.6 lakh crore, the list also has some surprising new entrants. The Indian who posted the biggest gain in wealth over the past year is reported to be Dhiraj Rajaram, the 40-year-old founder of Bengaluru-based analytics firm <keyword id="6713503" type="COMPANY" weightage="100" keywordseo="Mu-Sigma">Mu Sigma</keyword> are some to state. Rajaram saw his personal fortune rise six-fold, to Rs 17,800 crore. His ranking has risen 127 spots to No. 38, according to the Hurun India Rich List for 2015. There are 76 new faces among the 296 who made it to the Hurun India Rich List this year, with the cut-off level being personal wealth of Rs 1,600 crore. Apart from <keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>'s Bhati and Aggarwal, other prominent tech entrepreneurs on the list include <a href="http://www.businessinsider.in/Flipkarts-new-move-will-make-it-the-dream-destination-for-all-sellers/articleshow/48574598.cms">Flipkart's</a> Sachin Bansal, 34, and Binny Bansal, 34, whose estimated wealth of Rs 9,010 crore each puts them at the 85th spot, a rise of 58 positions. Snapdeal's Kunal Bahl, 32, is a new entrant, jumping straight to the 243rd spot with a wealth of Rs 2,314 crore.
 <keyword id="198636" type="PERSON" weightage="100" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, 38, of mobile wallet and ecommerce firm <a href="http://www.businessinsider.in/Now-refill-your-Paytm-wallet-at-the-nearest-kirana-store/articleshow/48770295.cms">Paytm</a>, and Naveen Tewari, 39, of the mobile ad network InMobi are also a part of the list.
 

	Most of these technology and internet companies have raised significant amounts of private equity capital at substantial valuations over the past year. Flipkart's latest fund raise valued the firm at $15 billion, and Snapdeal's valued it close to $5 billion. Most of the new-age startup founders are also exceptional in that they are self-made; 85% of those in the list are part of family businesses.
 

	"Despite the weakening of the stock market and the rupee, the Hurun India Rich List expanded by 76 entrepreneurs, showing the resilience and dynamism of the Indian private sector," said Anas Rahman Junaid, India head, Hurun Report. The Hurun Report was started by researcher Rupert Hoogewerf. The first report, in 1999, was on the rich in China, and Hoogewerf has since been regularly bringing out a China rich list. The India initiative began two years ago.
 At the top, Mukesh Ambani was followed by Dilip Sanghvi of Sun Pharma, S P Hinduja &amp; family of the Hinduja Group, Shiv Nadar of HCL, and Pallonji Mistry of the <keyword id="261354" type="COMPANY" weightage="100" keywordseo="Shapoorji-Pallonji-Group">Shapoorji Pallonji Group</keyword>. For the first time, Wipro chairman <keyword id="6419840" type="PERSON" weightage="100" keywordseo="Azim-Premji">Azim Premji</keyword> fell off the top 5 rankings. He's now at the seventh spot, with his net worth plummeting 59% to Rs 51,900 crore. 
	 
	(Image credits: Indiatimes)

New age Indian entrepreneurs enter the super-rich list, Ola founders the youngest

When Forbes named Vijay Shekar Sharma as the youngest billionaire of India in 2017, the net worth of his company PayTM was $2.1 billion. In June 2019, the company is credited with a net worth of $2.7 billion. The son of a simple school teacher, how Vijay Shekar Sharma built his success story is highly interesting and inspiring. Here are a few interesting facts about him that can move the readers to admire this amazing personality. His business benefited from the change How Sharma rose to success was by taking the wind’s direction to his advantage. When the internet industry was turning intricate, Vijay Shekar perceived a paradigm shift in the process of billing from paying bills at physical outlets to online payment. He took inspiration from this shift and launched PayTM that expands as Pay Through Mobile. The favourable climate around him paved way for his quick success. In the online payments arena. Past awards and recognitions In 2015, Vijay Shekar was credited with the most coveted ‘India’s Innovative CEO Award’. In a celebration, PayTM was also recognized among Delhi’s top 50 brands. In 2006, PayTM was identified as the “Most Innovative Start-up of the Year”. He was a child prodigy Vijay began his college life as early as 15 years of age. He graduated as an engineer when he was just 19 years. In 1997 when he was doing his college studies, he started a website indiasite.net and later sold it for $1 million two years later. The initial journey for him was tough In 2001 Vijay started One97, the parent company of PayTM. He had to take a loan of 8 lakhs to fund his startup. Soon he realized the repayment was getting tougher. Hence he took up some petty jobs like delivering guest lectures and setting up LAN connections in order to see that both the ends met. His fortune turned gradually upwards and he could occupy the 1567th rank in the World’s Billionaire’s List by Forbes. This position made him the youngest billionaire of India. Vijay’s wealth shot up even when PayTM suffered losses In 2018, Vijay’s net worth rose to $2.6 billion, which was close to Rs 18,000 crore. Hence he was ranked at the 877th position among the 2,153 global billionaires. This happened despite his company PayTM was reported to suffer a loss of Rs 3,393 crore. His business benefited from demonetization In November 2016, the Indian government announced one of the biggest ever demonetization moves on the earth in which the high-value currency notes were withdrawn. This measure intended to crack down the black money market, illegal money laundering and terrorist funding, had also struck a severe blow on a large number of businesses. While demonetization slashed away the cash worth billions of dollars within a very short period of time, a huge segment of the population turned towards digital payments. This move gave a big boost to PayTM which gained tremendously from demonetization and spurted to growth. Read Also about other Personalities - <a href="https://www.businessinsider.in/interesting-facts-about-ola-founder-bhavish-aggarwal/articleshow/71186840.cms">Ola Founder Bhavish Aggarwal</a> <a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">Facts about Ratan Tata</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Ola founder Ritesh Agarwal</a>

Interesting facts of PayTM founder Vijay Shekhar Sharma

<keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>, the co-founder of Flipkart sold his 5.5% stake in the company and left it in May 2019 after the ecommerce giant of India was acquired by Wallmart, the world’s largest retailer. Here are a few interesting facts about Sachin Bansal, the mastermind behind Flipkart. <ul><li>Sachin Bansal founded Flipkart in 2007 along with his partner <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword>. In the initial stages, the ecommerce firm sold books online gradually expanding its operations into other domains. Today Flipkart has become one of the top ecommerce businesses in India. </li><li>In April 2016, Sachin Bansal was named among the 100 most influential people in the world along with Binny Bansal by the Times Magazine. </li><li>In some strategic deals, Flipkart acquired some well performing ecommerce businesses like Myntra, Jabong and PhonePe. </li><li>Sachin Bansal would later recollect in his life when Flipkart operated from a rented office costing them Rs.8,000 per month. He said the company during the starting years did not have any power backup they had to suffer the extremities of climate without AC or even windows to the building they had rented out for their ecommerce operations. </li><li>Sachin Bansal was a remarkable gamer. He used to give dinner to those who defeated him in games. </li><li>When the Big Billion Day sales was on, Sachin Bansal delivered the products along with Binny and others in the company.</li><li>Sachin Bansal and Binny Bansal are only business partners and co-founders of Flipkart. They are never related to each other though their surnames might suggest if they could be brothers. </li><li>Sachin and Binny studied at the same school. They were born and brought up in <keyword id="6360078" type="LOCATION" weightage="20" keywordseo="chandigarh">Chandigarh</keyword>, Punjab. Despite sharing their school with each other, they were never friends during their school days. Both of them graduated from IIT Delhi and only there at the college they got to know each other. </li><li>Sachin Bansal worked for Amazon in 2006. Binny Bansal joined the company in 2007. Later they came together to create Flipkart in 2007.</li><li>Sachin Bansal has married Priya Bansal, who was a dentist by profession. They both have a son.</li><li>Sachin Bansal is a highly sociable personality and loves gaming to the core. Sachin’s addiction to gaming was so intense that he wanted to give up his engineering course to find a career in gaming. During his early life, Sachin Bansal was highly passionate about playing games like Age of Empires and <keyword id="1269448" type="PERSON" weightage="20" keywordseo="Quake-III-Arena">Quake III Arena</keyword>.</li><li>Sachin Bansal is a visionary and a seasoned entrepreneur, the skill which he mastered through hard work. In 2018 after 11 years of his tenure with Flipkart, the company was valued at $20.8 billion. During this career at Flipkart, Sachin Bansal had the position of Chief Executive Officer and Executive chairman. </li><li>Sachin exited Flipkart along with the Walmart deal in 2018. During his exit, he had 5.5% stake in the company, which he sold to Walmart. During that time, his net worth was more than $1 billion.</li><li>During his exit from Flipkart, Sachin Bansal said he would focus on some personal projects that were long pending. He also said he wished to give himself to gaming and to brush up his coding skills.</li></ul>Read Also about other Personalities - <a href="https://www.businessinsider.in/interesting-facts-about-ola-founder-bhavish-aggarwal/articleshow/71186840.cms">Ola Founder Bhavish Aggarwal</a> <a href="https://www.businessinsider.in/10-interesting-facts-about-ratan-tata-that-you-should-know/articleshow/69914798.cms">Facts about Ratan Tata</a> <a href="https://www.businessinsider.in/interesting-facts-about-oyo-founder-ritesh-agarwal/articleshow/70417612.cms">Ola founder Ritesh Agarwal</a>

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Interesting facts about Ola founder Bhavish Aggarwal

BI India Bureau

Ola Electric raises Rs 3,200 cr to fund EV business

PTI

India needs to lead global tech transition, build jobs of the future: Ola Founder Bhavish Aggarwal

PTI

New age Indian entrepreneurs enter the super-rich list, Ola founders the youngest

BI India Bureau

Interesting facts of PayTM founder Vijay Shekhar Sharma

BI India Bureau

Unknown facts about flipkart founder Sachin Bansal

BI India Bureau

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