From Complaints to Comebacks: Why I'm Betting on Ola's Future👀 Imagine dealing with 80,000 service complaints a month—6,000-7,000 daily spikes—sounds like a nightmare, right? Well, that’s exactly where Ola finds itself today. It's not exactly the ideal situation for any business. But here’s why I think it’s far from game over. Despite these challenges, Ola’s revenue is set to grow at an impressive 40%+ annually, and with the shift towards electric vehicles and the semiconductor revolution, the horizon looks promising. Yes, profitability may be elusive until 2027, but sometimes it’s about playing the long game. Let’s be real—Bhavish Aggarwal still has something to prove. While previous ventures like Ola Money and Ola Postpaid showed potential, they couldn’t capitalize on the market. Ola’s track record in scaling successful ventures isn’t flawless, but I believe the future could tell a different story. For me, despite the bumps, I’m in. I’ve personally invested in Ola because I see potential where others see problems. With the right moves, Ola could overcome its hurdles and turn those challenges into a powerful growth engine. What’s your take? Can Ola turn the tide and be a leader in the EV space, or is it too late for redemption? #Ola
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Bhavish Aggarwal's Ola Electric is a total mess. I bought it 3 months ago and now it is lying in middle of road since 6 days. It stopped working in middle road with message "Scooter issue. Please restart the scooter". Infinite calls to customer care generating various complaints numbers - 04377323, 04398125, 04433972, 04401730, etc etc. But sadly it is still lying and now there is feeling of helplessness or the other way around to put more money apart from 1lakh+ which already seems like it is wasted. Various new articles on google reporting and I qoute - "CASH BURNING MACHINE". I bought it just considering the environment factor but sad reality in India is companies like these are making money in name of environment and delivering poor services. The agent Mr Neeraj who sold the Ola to me is himself saying - "Ki bhaiya aap bech do olx par iska kuch nhi ho sakta". I am so surprised. SAD REALITY of EV Industry in INDIA. Going the government route is like making fool of myself. Now the company is launching IPO. It is upto anyone who wants to put money in "CASH BURNING MACHINES" 😂 Ola Electric Stop this SCAM. Article reference (https://lnkd.in/gmaGKwUr) - Value Research. Thank you for amazing article for putting out to people to not to invest in this company.
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I think it's high time I start calling this a '𝘕𝘰 𝘊𝘩𝘢𝘳𝘨𝘦 𝘕𝘰 𝘚𝘱𝘢𝘳𝘬' company like that erstwhile No Ed No tech company — not that I wish to see a fairly large public company go down but because of the issues and loudness plus obfuscation by them. Below are some headlines from newsletters in my mailbox today which I read late...these are a few. Each and every one of them has stories on this company and of course the founder's loud brash antics on social media. Maybe he thinks being public means brawling in public also! The most insightful and detailed one is by Pradip Kumar Saha of The Morning Context 'How Ola Continues to fail its customers' where he details the Human Machine Interface (HMI) and that Ola fails on 4 out of 5 in that respect. Why? Standard parts were not in sync with the design and manufacturing process 🤯 Second is why they have the volumes they have? Blame it on the government subsidies like FAME and PLI. To quote: "It did the numbers because of the subsidies. And the numbers gave it the market share, which helped it raise venture capital, paving the way for the company to be eligible for applying for PLI and eventually do a public listing," says a second person in the know, also requesting anonymity. “PLI for the company would likely be more than $1 billion." Read the rest on: https://lnkd.in/ggDBB5vS (You have to pay for quality journalism so don't ask for gift links!) Then, of course more issues with - Management Churn : Many or rather 75% C level execs have left : Sales, CTO, CMO, After sales, Compliance, CS etc etc etc. - Product issues :80-90k hard product complaints per month. Can anyone even comprehend that?? - Competition heating up and losing market share to biggies like TVS, Bajaj, Hero and nearest rival, Ather. *Bonus: Public brawls and spats by a hands on founder. Total recipe for disaster. And thus, this is a 𝘕𝘰 𝘚𝘱𝘢𝘳𝘬 𝘕𝘰 𝘊𝘩𝘢𝘳𝘨𝘦 company going forward 😐 #olaelectric #mobility
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Billionaire Bhavish Aggarwal, who recently took Ola Electric public in Rs 6145.56-crore IPO, said, "I've never bought a single share in my life". At a Business Today event, he said, "Now that I have some more liquidity, I intend to make some smart bets in the market." Aggarwal said he and his wife keep their money in savings accounts and FDs. #olaelectric #founder #entrepreneur #founder #investment #News #indianstartupnews
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SoftBank Group Corp.-Backed Billionaire Doubles Fortune on E-Scooter IPO Ola Electric's IPO: The company went public on 9 August 2024, in Mumbai. The shares jumped 16% at the opening, making it the biggest India listing in two years. Bhavish Aggarwal's wealth: The IPO doubled Aggarwal's fortune, adding $1.4 billion to his wealth and bringing his net worth to $2.6 billion. At 38, this makes him one of the world's youngest billionaires. Company background: Ola Electric, founded in 2017 in Bengaluru, is an electric vehicle company backed by SoftBank Group Corp. It achieved unicorn status within two years of founding, before shipping any scooters. Challenges: The company faced setbacks, including a high-profile incident where an Ola scooter caught fire in 2022. They recalled over 1,400 scooters in response. Aggarwal's entrepreneurial history: He has started companies in various industries, including ride-hailing (Ola Cabs), online payments, and artificial intelligence (Krutrim). Competitive stance: Aggarwal is known for his outspoken nature and willingness to compete with global giants like Tesla. He's quoted as saying, "Tesla is for the West, Ola is for the rest." Future plans: Aggarwal is also venturing into AI with his company Krutrim, which became India's first $1 billion AI startup in January 2024. Market context: The article notes that India is experiencing a booming IPO market and growing interest in electric vehicles, despite many EV companies not yet being profitable. Aggarwal is a bold, sometimes controversial entrepreneur who embodies a new, more assertive generation of Indian business leaders. #Growth #Expansion #IPO #Billionaires #escooter #EV #India I Bloomberg News I Satviki Sanjay I Advait Palepu I Pui Gwen Yeung
One of World’s Youngest Billionaires to Double Fortune on Ola IPO
bloomberg.com
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Check out what Founder of Ola - Bhavish Aggarwal, had said when team VOAahaar experienced an exclusive meet & greet #TechSparks2024! Following Ola's successful IPO, Bhavish Aggarwal-#billionaire with three #unicorns to his name and numerous accolades from leading publications, was humorously asked- How much wealth he has accumulated ? In response, Aggarwal offered a thoughtful reply: "Not enough to fund the dreams yet"- emphasizing that his aspirations extend far beyond financial success. He envisions transformative work in AI, aiming to revolutionize the future in sectors like energy, education, and healthcare. Aggarwal proudly highlighted that India is brimming with opportunities, and the resources one has are a responsibility given by society to reinvest in its future. For him, the true meaning of wealth lies in building, serving, and creating lasting impact. #VisionaryLeadership #BillionaireMindset #AIRevolution Shradha Sharma #HealthcareTransformation #InvestInSociety #IndianOpportunities
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This is what happens when you're so obsessed with your competition that you start launching products without proper R&D, simply to stay in the market. They released a product without setting up service centers and are now struggling with the wave of complaints they're receiving. They also launched their IPO during a bull market, trapping many investors at inflated prices. This is the result of investing without understanding the company's fundamentals. The owner of this company has a history of jumping from one startup to another in no time. Hopefully, this time he'll stick with Ola Electric and focus on building quality products, rather than cheap imitations of other electric scooters. #olaelectric #ola #evrevolution #marketing
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🚘 Indian ride-hailing company Ola, founded by Bhavish Aggarwal and Ankit Bhati, has diversified into sectors such as electric vehicles and AI, unlike rivals Uber, Grab and GoTo that have expanded into related industries. 📈 Ola's mobility business reached operating profitability in 2023 with an EBITDA of $30m. Ola Electric is now India's top-selling electric two-wheeler brand with a 33% market share, despite safety incidents. 📝 Aggarwal has expanded Ola's business through acquisitions and scaling strategies, including buying 11 companies over eight years and entering sectors drawing high investor activity. - Want full insights? Subscribe to Tech in Asia to read the entire article.
Ola rides on acquisitions for success, but will this work for its AI play?
techinasia.com
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🎯👉In business, the most successful ideas don’t start with a product they start with a problem! 🧐 Whether it’s an issue in an industry, a business model, or just an everyday problem people face, the best approach is to identify that problem first. Turn it into a question and come up with a simple, logical solution. That’s how brands like Ola revolutionized cab booking in India. 🚖They didn’t just sell a product; they solved a real problem and made life easier for millions! If you can’t find a product to solve your customer’s problem, create one. Remember, great businesses are built on great solutions, not just products. Dhandhe Ka Banda #businesstipsandtricks #problemsolvingskills #entrepreneurmindsetskills #startuplifestyle #businessgrowthstrategies #customerfirst #innovationforeveryone #businessstrategy #olacabs #successmindset101 #2024businesstrends #businessinspirationideas #entrepreneurlifes #zomato #indianmarket #productmarketfit
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[Published in March 2024] 🛺 Ola is expanding far beyond its ride-hailing roots, moving into sectors like electric vehicles and AI, contrasting other companies like Grab and Uber that stick to related industries. 🔥 Despite facing significant challenges, such as bikes catching fire, Ola Electric has become the top electric two-wheeler brand in India with a 33% market share in 2023. 👨💼 CEO Bhavish Aggarwal's aggressive expansion strategy includes multiple acquisitions and tapping into the latest investor trends, driving Ola into new ventures like generative AI. 🚀 With a focus on innovation and scaling, Ola navigates bumps in the road by hiring top global talent and raising substantial funding, setting sights on future IPOs and profitability.
Ola rides on acquisitions for success, but will this work for its AI play?
techinasia.com
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With the recent spat between Bhavish Aggarwal and Kunal Kamra, we can learn the harsh truth of life. 1. Social media is a high risk-high reward game. It is like you are speaking something in public with full autonomy to all spectators. If you utter something nonsense There will be an immediate impact on your public image. 2. Stock market works more on emotions and less on data (at least in the short term period). You need to decide what do you want. Choice is yours. 3. Action speaks louder than words. If you are not addressing genuine concerns of your customers, soon they will throw you out from your position. We can learn so many positive traits from Ratan Tata. He always think about his customers with the principles of business ethics alive. Even if you are a small customer of any TATA group companies, you will feel the fundamental values instilled by Ratan Tata in his employees. 4. Arrogance is always harmful. Even if you achieve great heights in your life(maybe #1 spot in any field), you need to remember that you will always find someone who will be better than you in some other field or the same field in due course of time. The supreme almighty is definitely greater than all since he possesses all power and all fame. Hence we need to make ourselves humble to grow in the long run. 5. It takes years and years of austerity and hard work to establish a business or construct something but it takes few seconds to loose all you have learnt throughout your life. 6. Patience is the key. We can learn from our honorable prime minister. Even if all people go against you, take a deep breath and avoid all nonsense criticisms. Just listen to them, digest it and try to improve yourself. Do not waste time on unnecessary issues. 7. Accepting the truth is an essential quality of a true leader. If you do something wrong, just accept it and learn from it. If you want to earn the respect, show it from your own behavior. 8. Lastly, burning VC money is not a good way to build a business especially when your unit economics or business model itself is flawed. Sometimes pivoting to other business ideas or models is ok. But ultimately an execution with the right mindset and strategy is most important. If you are a founder who is trying build something (with the business ethics) and looking to raise fund for your startup, please reach out to me. I will be happy to refer you. If you want to invest with high risk appetite and have a patience to grow your money in the long run, reach out to me. I will help you to start your angel investing journey. #startup #funding #businessethics #ratantata #tata #narendramodi #bharat #india #investment #angelinvesting #money https://lnkd.in/gD6ajB4m
Ola Electric Nosedives 8% Day After Bhavish Aggarwal-Kunal Kamra Spat
ndtv.com
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