Ola Plans To Make Changes In Its Operations And Go Public Through IPO
Ola is the top transformation network company in India. It was founded by Ani Technologies Pvt. Ltd. It is looking to go public through the initial public offering. It may launch its public offer in the coming 2 years. Currently, it is working on restructuring its operations and trying to reduce its staff or employees. According to the source, the Ola decreasing its staff over 5-8 percent. The move will impact about 350 jobs.
The people close to the development said that the Ola electric, financial services business-related employees also being moved to near business as part of the wider changes in its operations.
In 2019, Ola published its revenue increased by 16 percent to Rs 2,155 crore while it posts a loss of more than half to Rs 1,158 crore compared to the previous year.
The company has already been started its work for launching a public offer in 20 months. As of business person view, the company will need to focus on metrics like revenue, growth, and profitability.
At present, Ola is working on redesigning of its daily business operations, employees, productivity.
However, the company will remain to focus on combining some functions and decide how technology can be leveraged to significantly transform processes that are currently largely manual, said by a person related to the redesigning process.
Ola Business Segments
Vogo is a scooter rental company that is the world’s largest scooter leasing startup. Ola is one of the investors in Vogo.
As of the source, The ride-hailing firm has enlarged its holdings along with leasing and corporate subscription businesses. Moreover, it also varied bike taxis to fuel growth.
It has maintained a unique business model. The firm has raised revenue through financial services, Ola money, Ola Electric. The company was looking to go public in the next two years through the initial public offering. It had already been conducted Pre-IPO round and received Rs 36.88 crore. Recently, Soft Bank invests in Ola’s Electric business and reached $1 billion.