Bhavish Aggarwal | Co-Founder & CEO of Ola Cabs | Ola Electric .

Bhavish Aggarwal is an Indian entrepreneur who has revolutionized the mobility industry in India and beyond. He is the co-founder and CEO of Ola Cabs, one of the largest ride-sharing platforms in the world. He is also the founder of Ola Electric, a company that aims to accelerate the adoption of electric mobility in India and beyond. In this bio, you will learn more about his life story, achievements, challenges, and impact. 

Quick Information 

Early Life and Education

Bhavish was born and raised in Ludhiana, Punjab, in a Punjabi Hindu family. His father, Naresh Kumar Aggarwal, was a doctor and his mother, Usha Aggarwal, was a homemaker. He has a younger brother, Ankush, who is also an entrepreneur. Bhavish was interested in science and technology from a young age and participated in various competitions and Olympiads. He was also fond of reading books and playing chess.

He completed his schooling from Sacred Heart Convent School in Ludhiana and then moved to Mumbai to pursue his engineering degree from the prestigious Indian Institute of Technology Bombay. He ranked 23 in the entrance test and got into the computer science and engineering department. He graduated with a bachelor’s degree in 2008. He was a brilliant student and won several awards and scholarships during his college days. He also interned at Qualcomm and Microsoft Research India, where he filed two patents and published three papers in international journals.

Career and Achievements

Ola Cabs: India’s Leading Ride-Sharing Platform

After graduating from IIT Bombay, Bhavish joined Microsoft Research India as an assistant researcher. He worked there for two years and gained valuable experience in the field of machine learning and artificial intelligence. However, he soon realized that he wanted to do something more impactful and innovative. He decided to quit his job and start his own venture.

The idea for a cab company struck Bhavish when he had a bad experience with a taxi, which led him and Ankit Bhati, another IITian from Jodhpur, to co-found Ola Cabs in 2010. They started with a website called Olatrips.com, which offered online booking of cars for outstation trips. They later pivoted to an on-demand ride-sharing platform, which allowed users to book cabs, autos, bikes, and other vehicles through a smartphone app. They faced many challenges and rejections in the initial stages, but they persevered and managed to secure funding from various investors such as Tiger Global Management, Sequoia Capital, SoftBank Group, and Tencent.

Ola Cabs grew rapidly and became one of the leading players in the Indian mobility market. It expanded its operations to over 250 cities across India, the UK, Australia, and New Zealand. It also diversified its offerings to include food delivery, grocery delivery, electric vehicles, cloud kitchens, and financial services. It acquired several competitors and startups such as TaxiForSure, Foodpanda India, Ridlr, and Vogo. It also partnered with various government and private entities to promote smart transportation and social welfare. As of 2021, Ola Cabs has over 1.5 million driver partners, 200 million customers, and a valuation of about $10 billion.

Ola Electric: India’s Future of Electric Mobility

Bhavish is also the founder of Ola Electric, a subsidiary of Ola Cabs that focuses on developing and deploying electric vehicles and charging infrastructure. He launched Ola Electric in 2017 with a vision to make electric mobility accessible and affordable for everyone. 

He aims to build the world’s largest electric two-wheeler factory in Tamil Nadu, which will have an annual capacity of 10 million units. He also plans to launch electric cars and buses in the future. He believes that electric mobility is the future of transportation and has the potential to reduce carbon emissions, improve air quality, and create employment opportunities.

Awards and Recognition

Bhavish is widely regarded as one of the most influential and successful entrepreneurs in India. He has received several accolades and recognition for his work and vision. He was named among the ‘100 Most Influential People’ by Time magazine in 2018. He was also listed among the ‘30 Under 30’ by Hindustan Times and Forbes . He won the ‘Entrepreneur of the Year’ award by The Economic Times in 2017. He was also conferred the ‘Innovation in Transportation Award’ by Frost and Sullivan in 2014.

Challenges and Controversies

One of the biggest challenges that Bhavish faced was the entry of Uber, the global giant in the ride-sharing industry, into the Indian market in 2013. Uber posed a serious threat to Ola’s dominance and growth, as it offered lower fares, better technology, and more incentives to drivers and customers. Uber also accused Ola of engaging in unethical practices such as creating fake accounts, making false bookings, and poaching drivers. Ola denied these allegations and counter-accused Uber of violating local laws, evading taxes, and compromising customer safety. The two companies engaged in a fierce and bitter rivalry, which resulted in price wars, legal battles, and public spats.

Another challenge that Bhavish faced was the regulatory uncertainty and policy changes in the Indian mobility sector. He had to deal with various issues such as licensing, taxation, pricing, safety, and environmental norms. He also had to cope with the protests and strikes by the drivers, who demanded higher fares, better incentives, and more rights. He also had to face the backlash from the traditional taxi and auto unions, who opposed the entry of online aggregators and accused them of disrupting their livelihoods.

A third challenge that Bhavish faced was the impact of the COVID-19 pandemic on his business. The pandemic severely affected the demand and supply of mobility services, as people avoided travel and stayed at home. Ola’s revenue dropped by 95% in the first few months of the lockdown, forcing it to lay off 1,400 employees and cut costs. Ola also had to suspend its operations in several countries and cities due to the restrictions and regulations. Bhavish had to adapt and innovate to survive the crisis and recover from the losses. He focused on enhancing the safety and hygiene standards of his vehicles, launching new services such as Ola Emergency and Ola Pro, and expanding his electric vehicle business.

Bhavish has also faced some controversies and criticism for his actions and decisions. He has been accused of being arrogant, aggressive, and authoritarian by some of his peers and competitors. He has also been criticized for being too ambitious, overconfident, and unrealistic by some of his investors and analysts. He has also been questioned for his involvement in politics and social issues, such as his support for the Citizenship Amendment Act and his opposition to the farm laws.

Personal Life and Philanthropy

Bhavish is married to Rajalakshmi Aggarwal, who is a doctor by profession. They met during their college days at IIT Bombay and tied the knot in 2014. They have a daughter, who was born in 2018. They live in Bengaluru, Karnataka, where Ola’s headquarters are located. 

Bhavish is a private and reserved person, who does not like to share much about his personal life and hobbies. He prefers to spend his free time with his family and friends. He is also an avid reader and a fitness enthusiast. He likes to read books on business, history, and philosophy. He also likes to play chess and badminton.

Bhavish is also a philanthropist, who believes in giving back to society and supporting various causes. He has donated to various organizations and initiatives, such as the PM CARES Fund, the Akshaya Patra Foundation, and the GiveIndia Foundation. He has also supported various campaigns and movements, such as the Swachh Bharat Abhiyan, the Digital India Initiative, and the Skill India Mission. He has also mentored and invested in several startups and entrepreneurs, such as Vogo, Dot, and Hapramp. 

Net Worth and Investments

According to news and Forbes, Bhavish Aggarwal’s net worth is ₹11, 700 Crore INR as of 2023. All this income comes from his company Ola Cab and Ola Electric, which are valued at around $3.8 Billion USD and $1 Billion USD respectively. He also owns a significant stake in both the companies, along with his co-founder Ankit Bhati.

Apart from his own ventures, Bhavish Aggarwal is also an angel investor, who invests his money in Indian startups. He has backed several promising and innovative startups, such as Vogo, a scooter-sharing platform, Dot a smart locker company, and Hapramp, a social media platform. He also supports and mentors young and aspiring entrepreneurs, who want to make a difference in the society and the economy.

Conclusion

Bhavish Aggarwal is an inspiring and influential entrepreneur, who has revolutionized the mobility industry in India and beyond. He has built Ola Cabs into one of the largest and most valuable startups in the world. He has also launched Ola Electric, which aims to transform the electric vehicle ecosystem in India and beyond. He has overcome many challenges and controversies in his journey and has emerged as a leader and a visionary. He has also contributed to the society and the economy through his philanthropy and innovation. He is a role model and an icon for millions of aspiring entrepreneurs and young Indians.

If you want to learn more about Bhavish Aggarwal and his ventures, you can visit his website, follow him on Twitter, or connect with him on LinkedIn. You can also check out his TEDx talk, where he shares his insights and experiences as an entrepreneur. Thank you for reading this bio and I hope you found it informative and interesting.