Cab-hailing service Ola is on the fast track on the back of a $500 million funding from investors including Japan's SoftBank Group, Baillie Gifford, Falcon Edge, Tiger Global and DST Global.
Take a look at 10 facts you didn’t know about Ola …
* Ola, started by two IITians, Bhavish Aggarwal and Ankit Bhati, has now raised a total of $1.3 billion (Rs 8,600 crore).
* At $5 billion (Rs 33,058 crore), Ola is the third-most valuable venture-backed company in India after online retail giants Flipkart and Snapdeal.
* Set up in 2011 with operations only in Mumbai, Ola is now present across 102 cities in India.
* The company has seen an astounding rise, growing 30 times in the last one year.
* Ratan Tata has acquired a stake in OlaCabs in his personal capacity.
* The company has a network of more than 3,50,000 cars.
* According to the company, it receives over one million booking requests a day.
* OlaCabs bought Bangalore-based cab service TaxiForSure for about $200 million in March 2015.
* Ola has acquired Geotagg, a trip-planning applications company.
*As competition is heating up, Ola may step on the accelerator to triple the number of bookings to about 3 million by the end of FY16, and apparently is also looking at newer business models such as car pooling and ride sharing and is most likely to rope in more entrepreneurs to scale up operations to tier-2 cities as well.