Ola Update- It was recently reported that Bhavish Aggarwal is focusing much on energising Ola Electric, the ride-hailing platform from the aggregator company. Also, because of it, Ola is planning to lay off around 500 employees across various departments as it aims to cut costs and streamline operations.
The company has also shut down Ola Cars as well as Ola Dash, which was a vehicle business from the aggregator. The service was almost a year old but gained not much revenue and business, hence the company shut it down within a year of its launch.
The company has been very much focusing on its electric two-wheeler and car verticals and emphasising the segment for growth itself.
Ola also stated that it delayed its IPO plans, and has further reported that it shopped its global investment plans to further expand overseas.
The company currently has nearly 1,100 employees in its core ride-hailing business and directly competes with Uber.
Over a few months, Ola has shut down
- Ola Cafe
- Ola Foods
- food panda
- Ola Dash