Cab booking service, Ola has announced its expansion in 24 more cities. Counted among one of the leading mobile app for cab bookings, Ola now has its services in over 50+ cities and thus makes it the first cab-booking app to be present pan-India across all major metros, cities and towns.
Ola has also released the some data that offer insights into the scale and velocity of the growth of India’s most popular app for cab booking:
The Ola app now has over 60,000 cabs across the 50+ cities where it operates. This is more than the fleet size of the entire organized point-to-point cab sector in the country as it existed. The company has added over 15000 cars to its platform in just the last three months and has launched operations in over 34 new cities during this period! It is currently adding over 1000 cabs to the platform everyday. Ola plans to expand to over 200 cities by the end of 2015.
Bookings and Revenues
Ola currently serves over 200,000 rides every day translating into a run-rate of over 6 million rides a month. The company has grown at the rate of over 40% month on month in 2014 and continues to grow at the same rate in its current scale.
Mobile and Wallet Usage
Currently, over 80% bookings received are through the Ola mobile app. Ola’s app is the most popular in its category across both Android and iOS app stores.
The company’s mobile wallet, which was introduced in October 2014 has seen a phenomenal response. The First time Ola users who have recharged their Ola money wallet are growing at the rate of 40% per month. At the same time, regular users who use the Ola Money wallet now book 30% more than before and over 80% users who have used the wallet have recharged it multiple times in the past few months. Over 40% bookings are paid for, using Ola’s mobile wallet.