Olacabs to enter 5 cities soon

Cab aggregator Olacabs, which currently operates in Mumbai, Bangalore and is also running a pilot project in New Delhi, is planning to expand its operations in four other cities by end of this year.

The company is planning to launch its operations formally in Delhi and in cities like Kolkata, Hyderabad, Chennai and Pune by year end. “We want to reach most major cities in India and also plan to take our daily cab bookings from 2,000 at present to somewhere between 8,000-10,000 cab bookings a day by end of fiscal 2013,” Olacabs CEO and Co-Founder Bhavish Aggarwal told Deccan Herald.

Set up in November 2010 by two IIT Bombay graduates, Olacabs employs 400 people, operating as an aggregator for cabs belonging to the unorganised sector and does not operate its own fleet. It has created the software platform wherein people can login their website or use their mobile app to book a cab.

In April 2011 , Olacabs  raised Rs 1 crore from two angel investors and then again in March 2012 it received close to Rs 40 crore from Tiger Global Investors.

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