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New Delhi, Mar 20 () Ride-hailing firm Ola has suspended shared rides temporary in an effort to curb spread of coronavirus that has killed over 10,000 persons so far globally. "In our efforts to curb the spread of COVID-19, we are temporarily suspending the 'Ola Share' category until further notice," the company said in a statement on Friday. Ola users have an option to take ride that can be shared with other customers which costs less than standalone ride. "The temporary suspension of Ola Share services is an attempt to encourage social distancing for all cases of essential travel for citizens," the statement said. The company said it will continue to provide micro, mini, and prime as well as rental and outstation services rides. PRS HRS

Ola temporary suspends share rides

Pune, Jun 5 () Ride-hailing major Ola on Friday said it has resumed its services in Pune with necessary safety and precautionary measures. Along with Pune, Ola will also be offering its services across major cities such as Mumbai, Nashik, Nagpur, Aurangabad, Solapur, and Amravati. Citizens across these cities will now be able to book both in-city and out-station trips (intra-state only) for their essential travel needs, the firm said in a release. The release said that the firm has also introduced five layers of safety that include strictly adhering to steps that ensure the highest standards of safety and hygiene for every ride. "This includes compulsory mask usage for driver-partners and passengers, deep sanitisation of cars before and after rides, amongst others. A flexible cancellation policy has also been introduced that allows either the passenger or driver-partner to cancel the ride if they feel the other party is not following the rules or not wearing a mask," the release stated. Ola has mandated all vehicles on the platform to follow hygiene and safety standards that will include the cars being cleaned and sanitised before every ride. Dedicated fumigation centres will also be set up across Pune and other cities in Maharashtra to fumigate vehicles and screen driver-health every 48 hours. Anand Subramanian, spokesperson for Ola, said that as per the latest guidelines issued by the Maharashtra government, driver-partners operating three and four-wheelers will be able to serve the mobility needs of Punekars through the Ola platform. "We are thankful to the Maharashtra state government for bringing relief to thousands of auto-rickshaw, kaali-peeli and cab driver-partners whose livelihoods have depended on mobility," he said. Complying with state government regulations, Ola cabs will operate with one driver and two passengers in cabs and auto-rickshaws. SPK MKJ MKJ

Ola resumes services in Pune with safety measures

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, Mar 21 () Ride-hailing firm Ola will offer a floater insurance cover of up to Rs 30,000 crore for its around 20 lakh registered driver partners and their spouses in case they are hit by coronavirus infection. "All eligible Ola driver-partners and their spouses shall be covered by a floater sum of Rs 30,000 under which they can receive a compensation of Rs 1,000 per day for a maximum of 21 days for an individual from the date of a positive diagnosis for COVID- 19," Ola said in a statement. Ola partners can claim for the cover for hospital as well as home quarantine prescribed by a qualified medical practitioner, as approved by the government norms from time to time."Drivers can make a claim for this compensation for themselves and (or) their spouse by providing appropriate medical documents. This coverage comes in with immediate effect and is available for all Ola driver-partners in India across all categories including Ola Bike, Ola Auto, Ola Rentals and Outstation," the company said. Ola currently operates in 250 Indian cities. The company has also partnered with online doctor consultation App, Mfine, to provide free medical help for driver-partners and their family members."The outbreak of COVID-19 poses a risk of impacting the health and livelihoods of millions across the country including that of our driver-partners and their families. Through our tailored insurance offering, we are able to help driver-partners and their spouses, through assured financial support if they are diagnosed with covid-19," Ola spokesperson and head of communications Anand Subramanian said. PRS MKJ

Covid-19: Ola announces floater coverage of Rs 30,000 for 20 lakh driver partners

Cab aggregator <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> posted a consolidated loss of over Rs 2,311 crore -- about Rs 6 crore a day -- during fiscal 2015-16, on account of heavy advertising and promotional expenses and high employee cost, as per a news report by PTI.The Bengaluru-based firm, which is locked in an intense battle for leadership with US-based Uber, has seen its losses widen about three times from Rs 796.11 crore in 2014-15, Ola said in a filing with the Ministry of Corporate Affairs.<keyword id="2200842" type="UNKNOWN" weightage="20" keywordseo="ANI-Technologies">ANI Technologies</keyword> -- which runs Ola -- did see its revenues registering a stellar growth at Rs 758.23 crore during 2015-16 compared to Rs 103.77 crore in the previous fiscal.Emails by PTI sent to Ola remained unanswered.<keyword id="2385099" type="UNKNOWN" weightage="20" keywordseo="Anchal-Agarwal">Anchal Agarwal</keyword>, co-founder of research and analytics firm <keyword id="4159482" type="UNKNOWN" weightage="20" keywordseo="Tofler">Tofler</keyword> said while the absolute amount of losses have indeed widened, the loss margin has "reduced considerably"."They spent almost Rs 8.5 for every rupee earned in 2014 -15. That number is down to almost Rs 4 for every rupee earned for 2015-16. With the pull-back in incentives etc in recent months, it's possible this has now dropped to levels at par with e-commerce companies that spend roughly Rs 2-3 for every rupee earned," she added.The consolidated numbers include financials of ANI Technologies, Ola Fleet Technologies (leasing business), <keyword id="1062211" type="UNKNOWN" weightage="20" keywordseo="Serendipity-Infolabs">Serendipity Infolabs</keyword> (Taxi For Sure) and Zipcash Card Service (46 per cent ownership).In August 2016, Ola shut down the TaxiForSure (TFS) business, about 18 months after acquiring the rival for USD 200 million.As per the filing, Ola's losses were widened on account of employee related expenses rising over five-fold to Rs 461.60 crore in the said fiscal from Rs 85.16 crore in 2014- 15. Similarly, Ola expanded its advertising and promotional expenditure to over Rs 437.89 crore in 2015-16 from Rs 99.84 crore in the previous year.Both Ola and Uber have loosened their purse strings to bring more riders and driver partners on board, offering them discounted rides and incentives, in a bid to wrest control of the lucrative Indian market.Over the last few years, the explosion of smartphones in India the world s second largest telecom market in terms of subscriber base has made it more convenient for consumers to book a cab on the go through apps and secure payment options.Companies like Ola and Uber have made booking a taxi ride as easy as a couple of quick taps on the phone screen.Since ANI Technologies is not a publicly-traded company, it is not obligated to disclose quarterly performance. It has raised investments of over USD 1.5 billion from investors, including <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> Group, Tiger Global, Matrix Partners, Steadview Capital, <keyword id="270604" type="ENTERTAINMENT" weightage="20" keywordseo="Sequoia">Sequoia</keyword> India, Accel Partners US and Falcon Edge.In November, Ola raised about USD 250 million from SoftBank, albeit at a lower valuation of USD 3 billion (compared to USD 4.5 billion earlier). The company's Board has recently approved a proposal to raise another USD 100 million from investors, which it said would be "primarily to fund its expansion plans".Ola, which has a presence in 110 Indian cities compared to Uber's operations in 29 cities, has been aggressively expanding its portfolio of services. It has a number of offerings like Micro (affordable), Mini, Prime (sedan), Lux (luxury), Outstation, Share (shared rides), Auto, Rentals, Shuttle (buses) and e-rickshaw. Ola, which claims to have over 6,00,000 vehicles across cabs, auto-rickshaws and taxis, is also placing big bets on new technologies like electric vehicles to stay ahead of competition

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Ola temporary suspends share rides

PTI

Ola resumes services in Pune with safety measures

PTI

Interesting facts about Ola founder Bhavish Aggarwal

BI India Bureau

Covid-19: Ola announces floater coverage of Rs 30,000 for 20 lakh driver partners

PTI

Bleeding bad: Ola roughly spent Rs 4 for every rupee earned during 2015-16

BI India Bureau

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