After years of intense competition and burning millions of dollars, India’s ride-hailing giant Ola claims it has come out on top of its main competitor Uber and is now making a profit on every ride it offers in India.
Co-founder and Chief Executive Officer Bhavish Aggarwal said the company was operationally profitable and would soon become cash flow positive. “Ola in India makes money on every ride. Our focus over the past couple of years has been to keep growing the market and our share in the market and build up on sustainable business,” Aggarwal said at a fireside chat in Bengaluru on Friday.
Turning a profit would essentially bring down the firm’s reliance on raising capital from investors to grow its