1400 Layoffs in OLA : Corona Crisis

Ola Cabs

Highlights :

Ola announces 1400 Layoffs

It's revenue is down by 95 % in the last two months.

Ola on Wednesday, announces that it is going to layoffs it's 1400 employees due to Corona Crisis.

It also stated that it's revenue is down by 95 % in the last two months. Futher it's future is very uncertain.

About OLA :

Ola Cabs is an Indian ride-sharing company offering services which includes peer-to-peer ride-sharing, ride service hailing, taxi and food delivery. The company headquarter is in Bangalore, Karnataka, India

Ola Cabs was founded on 3 December, 2010 as an online cab aggregator in Mumbai, and is now based in Bangaluru.

As of 2019, Ola has expanded to a network of more than 15 lakhs drivers ( 1.5 million ) across 250 cities.

In 2018, Ola extended into its first overseas market in Australia. Later it also goes in Newzealand and UK.

Ola's Acquisition :

In 2015, Ola Cabs acquired Bangaluru based taxi service TaxiForSure ( TFS ) for approximately ₹ 1394 crores.

Later in November, Ola Cabs acquired Geotagg, a trip planning application company, for an undisclosed sum.

In December 2017, Ola acquired struggling foodtech company FOODPANDA with an eye on leveraging the growing food delivery segment.

In 2018, Ola made its second acquisition with Ridlr ( formerly Traffline ) a public transport ticketing app.

Website : olacabs.com

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