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Ola vs Tfs

In: Business and Management

Submitted By divyanshbengani
Words 856
Pages 4
A comparative study of TAXI FOR SURE and OLA CABS:
OLA and TFS are companies of the same sector that started out together as competitors. While Ola Cabs had a slow start and the company as such took some time to figure out the perfect business model, Taxi for Sure had a more consolidated and well planned business model that helped them initially( decision to partner with goibibo and airports). Since then TFS has maintained a stagnant approach. Whereas OLA has taken some radical and unique steps to change their business plan based on consumer needs and feedback. It is this difference in approach that led one company to falter and the other to become one of the fastest growing companies in this sector. OLA has now not only beaten the competition but has bought( acquired) TFS for 200 million $. Let us analyse the differences in the two business models and what were the key factors that brought about this acquisition.

Background check:
TaxiForSure.com is a taxi aggregator company based in Bangalore, India. It provides facility to book a cab through calling, through their website or through their mobile application. Taxiforsure.com is run by Serendipity Infolabs, which was started in June 2011 by two graduates from IIM Ahmedabad, Aprameya Radhakrishna and Raghunandan G.[2] The company started providing its services in Bangalore in 2011 and expanded to Chennai and Delhi in 2013 after turning profitable in Bangalore.[3] In 2013, the company launched its mobile application for iOS and Android platforms and also started the facility to book cabs through Twitter.[4]It tied up with Goibibo in October, 2013 to offer airport services to its customers in Bangalore and Delhi.[5] The company expanded its operations toAhmedabad, Hyderabad, Baroda, Surat, Pune, Mysore and Rajkot in 2014. It has also started giving the option to hire luxury vehicles.[6] Of late, the company has also started providing auto-rickshaws on call through their app.[7]
OlaCabs is an online cab aggregator based out of Bengaluru and among the fastest growing taxi hiring firms. Taxi booking facility can be availed through app, website or through calls. Founded on 3 December 2010 by two IIT Bombay graduates, Bhavish Aggarwal (CEO) and Ankit Bhati. By 2014, the company has expanded to a network of more than 18000 cars across more than 65 cities. In November 2014, Ola expanded to incorporate autos on-trial basis in Bengaluru.[2] Post the trial phase, Ola Auto expanded to other cities like Delhi, Pune and Chennai starting December 2014.
-------------------------------------------------
Service[edit]
Olacabs provides different types of cab service: * Ola Prime — A business-class car service for luxury travel available in a few cities offering bigger cars like Toyota Innova.[3] * Ola Sedan — A regular-class car service aimed at providing the customers a spacious car for comfortable travel with cars like Toyota Etios. * Ola Mini — An economic-class car service to serve customers looking for affordable personal transportation with cars like Tata Indica. * Ola Pink — A car service driven by a lady driver service lady travellers. * Ola Auto — An auto service provided to the customers, removing the need for haggling the price with the drivers.
The cabs can be reserved through a web browser or a mobile app. This cab service supports both cash and cashless payment options with Ola money. It clocks an average of more than 150,000 bookings per day and commands 60 percent of the market share in India.[4]

Funding:
TaxiForSure.com received initial funding from Accel Partners India, Helion Venture Partners and Blume Ventures in 2012.[8] The company secured its series A funding from the same group of investors in 2013 taking the total funding to USD 5 million approximately. In 2014, the company received series B funding of USD 10 million led by Bessemer Venture Partners. Existing investors also participated in this.[3][9] The company raised further 30 million from Accel Partners US on August 21, 2014.

It raised $330k[5] in its initial round of funding on April 21, 2011. The company received Series A funding of $5 million from Tiger Global Management; Series B funding of USD 20 million from Matrix Partners and Tiger Global; Series C funding of $41.5 million from Steadview Capital, Sequoia Capital and its existing investors. In Series D round of funding on Oct 25, 2014, it raised $210 million from SoftBank Internet and Media Inc. and its existing investors.

Olacabs, cofounded by IIT-Bombay alumnus Bhavish Aggarwal and his collegemate Ankit Bhati, received $210 million in funding led by Japanese communications conglomerate SoftBank in October.
Just two months before, TaxiFor-Sure had snagged $30 million from Accel and Qualcomm, but Olacabs' fundraising demonstrated that momentum had swung its way.
TaxiForSure has spent much of the last two months scouting for additional funding to keep pace with competitors who are backed by deep-pocketed investors. Two weeks back, Bengaluru-based Serendipity Infolabs, which owns and operates online taxi booking platform TaxiForSure, raised a bridge round of $6 million from its existing investors Accel Partners India, Helion Venture Partners and Accel Partners US, among others.…...

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