Can used-car commerce, biryani experiment, and quick delivery electrify Ola’s planned IPO?
Synopsis
Ahead of going public, Ola has been aggressively launching businesses and has worked hard to show profits in cab hailing. But under the sheen of profitability and expansion is a shrunk core business, a patchy record of diversification, and high churn in the workforce.
In November, three news items appeared about Ola that were unrelated to its frenzied electric-scooter launch. The cab-hailing unicorn sold 1,000 cars on its newly floated used-car exchange platform in two days during Diwali. It piloted a 15-minute grocery delivery. It reported operating profit for the first time. Ola chief Bhavish Aggarwal has been simultaneously orchestrating two events of pivotal importance for both his companies: the
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