Ola Cabs (stylized as OLΛ) is an Indian multinational ridesharing company, headquartered in Bangalore. It also operates in other business verticals including financial services and cloud kitchens.In March 2015, Ola Cabs acquired Bangalore-based taxi service TaxiForSure for approximately ₹12.37 billion (US$160 million). June 2015 onwards, Ola users gained access to TFS cabs via the Ola mobile application.Later in the year in November, Ola further acquired Geotagg, a trip-planning applications company, for an undisclosed sum.
In a move to expand beyond cab aggregation, Ola acquired struggling foodtech company Foodpanda India with an eye on leveraging the growing food delivery segment business in December 2017. In April 2018, Ola made its second acquisition with Ridlr (formerly Traffline), a public transport ticketing app.Later in August 2018, Ola financed Series A funding of the scooter rent startup Vogo, and again in December, invested another $100 million.
In 2019, more than 10,000 drivers applied both in online and offline mode, ahead of its launch in London. In February 2020, Ola launched its is taxi-hailing services in London with over 25,000 drivers registered.
Ola posted its first-ever operating profit of ₹90 crore (US$12 million) in the financial year 2020-21.
