Ahead of IPO, Ola shows significant growth in revenue (and other top stories of the day)

Valued at a little over $6 billion and having raised over $3.5 billion from the likes of Temasek Holdings, Tiger Global, Softbank, and Matrix Partners, Ola is now present in 250 cities across India, Australia, New Zealand, and the UK.

3rd Dec 2019
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At YourStory's annual flagship event, TechSparks 2019, Ola Co-founder and CEO Bhavish Aggarwal confirmed that the ride-sharing unicorn is eyeing an initial public offering (IPO) in the next two years.


At the time, Bhavish told YourStory Founder and CEO Shradha Sharma that he was "absolutely focussed" on taking the company public. 


And he sure wasn't kidding. 


Ahead of the much-awaited IPO filing, Ola has reported a significant 38 percent jump in its FY19 operational revenue to Rs 2543.63 crore from a year ago. Losses for the period narrowed to Rs 2592.92 crore in FY19, versus Rs. 2842.6 crore a year earlier. 


"Today, we are running our business profitably in India and there is no vanity metrics. It's the real bottom-line. We've built a stable business and now we want to go global," Bhavish told YourStory.


Valued at a little over $6 billion and having raised over $3.5 billion from the likes of Temasek Holdings, Tiger Global, Softbank, and Matrix Partners, Ola is now present in 250 cities across India, Australia, New Zealand, and the UK.


It hasn’t stopped there.


In recent times, the company has branched out by foraying into the cloud kitchen segment and building an electric vehicle entity, Ola Electric, which is also a unicorn.


"Our ambition is to build an Indian consumer business on a global scale. Today, there are no Indian brands on a global scale and it’s not because we couldn’t do it, the stars just didn’t align. The domestic market is complex, but in the next decade, there will be several Indian brands, and in mobility, we want to be the leading player," Bhavish told us.


Read more at: https://yourstory.com/2019/10/techsparks-2019-bhavish-aggarwal-ola-ipo-going-public


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