Published: Tue, January 30, 2018
Money | By Armando Alvarado

New ride share service Ola launches in Australia

New ride share service Ola launches in Australia

Online cab aggregator Ola on Tuesday announced its entry into the global market, starting with Australia, to take on its American rival Uber. The Indian transportation company announced its plans of extending its presence in the market of Australia.

Founded in 2011, Ola claims to have a user base of 125 million in India and a network of over one million driver-partners across 110 cities.

Ola, which still needs regulatory approval to launch in Australia, said it would offer a "high-quality and affordable travel experience".

"We are very excited about launching Ola in Australia and see vast potential for the ride-sharing ecosystem which embraces new technology and innovation", said Ola co-founder and CEO Bhavish Aggarwal. On an aggregate basis, Ola serves as many as a billion rides annually, through its platform as per a statement from the company. The timing of entering an global expansion could not have been better as Uber reels deep under crisis with multiple investigations questioning the company's toxic culture, discrimination, and the resultant departure of key board members.

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Ola's global foray follows a large funding round. Europe's Taxify - another company backed by Didi - moved into Australia via a Sydney launch in November.

Uber launched its operations in Australia in 2012 and now operates in 19 Australian cities including the major cities of Sydney, Melbourne, Brisbane, Adelaide, Perth and Canberra.

Ola's rival Uber already has an established business in Australia.

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