Ola has expanded its ride sharing unit Ola Share to 5 cities and is now available in the following 15 cities: Delhi, Bangalore, Chennai, Mumbai, Hyderabad, Pune, Kolkata, Chandigarh, Ahmedabad, Jaipur, Coimbatore, Kochi, Guwahati, Bhubaneswar and Ludhiana. The company claims that it has saved 48 lakh kgs of carbon emissions and 20 lakh litres of fuel in the last 8-10 months through Ola Share.
Ola Share was launched in Bangalore in October last year and allows up to 3 people to get into a shared cab. In January this year, it expanded to Mumbai and had said that it would launch Ola Share in 20 cities by July 2016. In February, the company signed an MoU with the Government of Uttar Pradesh to launch Ola Auto, Ola Share and Ola Shuttle in the state, and in June, it did the same with Haryana.
Earlier this month, Ola started accepting bookings on SMS where a user does not have an internet connection. It also integrated its API into Siri and Apple Maps to let iOS users get a cab from the platform. Last month, Ola tied up with vehicle manufacturer Mahindra & Mahindra Ltd to provide loans for vehicles to 40,000 driver partners through financing worth $400 million (~Rs 2,600 crore). In June, Ola got a license to operate in Karnataka.
For the quarter ended 31 March 2016, ANI Technologies, the parent company of Ola, reported revenues of Rs 51.05 crore from operations and other income. This was a growth of over 200% from Rs 16.4 crore in the preceding financial year. Losses in the period stood at Rs 34.22 crore compared to the loss of Rs 22.8 crore in the previous financial year.
Uber’s ride sharing in India
In September last year, Uber launched its car-pooling product UberPOOL in Bangalore. At that time, Uber claimed that over 100,000 people across its markets were using the UberPOOL service. In December, Uber started offering private car pooling in Delhi. In June this year, Uber launched UberPOOL in Hyderabad, Kolkata and Mumbai. The company stated that in Delhi and Bangalore, UberPOOL accounted for 25% of all its trips. In both these cities, 50,000 users were using the service weekly.