Bhavish Aggarwal is one of the most inspiring entrepreneurial success stories in India.
Born in 1985 in Ludhiana, Punjab, Bhavish Aggarwal embarked on his professional journey as an intern at Microsoft after graduating from IIT Bombay.
After working at Microsoft for two years, Bhavish identified a massive gap in the urban transportation sector in India and co-founded Ola Cabs in 2011 with his colleague Ankit Bhati.
Over the last decade, Ola Cabs has revolutionized urban mobility in India and expanded its services to Australia, New Zealand, and the UK.
So how much is Bhavish Aggarwal net worth today and what’s his inspirational success story? Let’s find out.
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Bhavish Aggarwal Net Worth – CEO and
Co-founder of Ola Cabs
As per the IIFL Wealth Hurun India Rich List 2022, Bhavish Aggarwal net worth stands at a staggering ₹11,700 crores!
This massive net worth not only makes Bhavish one of the richest entrepreneurs in India but also places him among the youngest self-made billionaires in the country.
The meteoric rise in Bhavish Aggarwal net worth is fueled by the phenomenal growth and valuation of his startup Ola Cabs.
Ola Cabs’ Net Worth
Bhavish Aggarwal owns a nearly 6.7% stake in Ola Cabs. His first company, Ola, completely changed the taxi industry in India. Ola, a ride-hailing service similar to Uber, is now valued at over $4.8 billion dollars.
In 2017, Bhavish launched another company called Ola Electric which makes electric scooters and bikes. It has also grown very quickly.
Ola Electric raised Rs 3,200 crore in new funding from investors like Temasek and the State Bank of India in October 2023. This will help the electric vehicle company grow its business.
Bhavish is one of only a few Indian entrepreneurs to start two companies that have grown to be worth over $1 billion.
Companies that are worth over $1 billion are often called “unicorns” in the business world.
Through innovative thinking and strong execution, Bhavish has made two unicorn companies in India which is a very impressive accomplishment.
Bhavish Aggarwal was born on August 28, 1985, in Ludhiana, Punjab to Naresh Kumar Aggarwal and Usha Aggarwal. His parents were doctors by profession.
He spent his early years in Ludhiana and later got admission to the prestigious IIT Bombay for a B.Tech in Computer Science.
After graduating from IIT in 2008, Bhavish began his career as an intern at Microsoft.
A Stint at Microsoft
Bhavish worked at Microsoft India between 2007 to 2010, first as an intern and then as an Assistant Researcher.
During his stint at Microsoft, Bhavish filed two patents and published three papers in international journals – remarkable achievements for someone starting out his career.
However, Bhavish always had an entrepreneurial streak and bigger dreams. The corporate job was not enough to satisfy his ambitions.
The Birth of Ola Cabs
The seeds of Ola Cabs were sown in 2010 when Bhavish Aggarwal had a harrowing experience with a cab driver while traveling from Bangalore to Bandipur.
The cab driver demanded extra money after the trip had started and abandoned Bhavish midway when he refused to pay.
This incident exposed the gaps in urban transport and inspired Bhavish to provide a technology-driven solution.
Since then, Ola Cabs has grown exponentially under Bhavish’s leadership to become India’s largest ride-hailing service, revolutionizing urban transportation in the country.
Ola’s Exponential Growth
Despite launching in a tough market with low technology penetration, Ola Cabs’ growth has been phenomenal.
From operating in just one city in 2011, Ola Cabs expanded to over 250 cities within 7 years. It has become India’s largest ride-hailing company with a market share of over 50%.
Ola also expanded overseas starting with Australia in 2018 followed by New Zealand and the UK. As of 2023, Ola is operational in over 250 cities globally.
Other than ride-hailing services, Ola diversified into electric vehicles, food delivery, micro-insurance, and more. This transformed Ola from a single product to a multi-business platform.
Ola Cabs Net Worth and Valuation
Ola is valued at around $4.8B as of May 10, 2023. ANI Technologies, the parent company of Ola has raised funding over $4.3 billion over 16 rounds.
Japanese investor Softbank is the biggest shareholder with a stake estimated at above 30%. Nexus Ventures, Tiger Global, and Matrix Partners are other key investors in Ola.
Despite the pandemic’s blow to ride-hailing, Ola has managed to survive and is now on the growth path again.
It aims to expand deeper into financial services and electric vehicles too. Ola Electric has built the world’s largest EV two-wheeler factory in record time.
Bhavish Aggarwal’s leadership at Ola
Under Bhavish Aggarwal’s leadership, Ola Cabs became a pioneer in using technology to solve real-world transportation problems in India.
Some Key Contributions of Bhavish Aggarwal
- Revolutionized cab booking experience from call booking to mobile app-based booking.
- Leveraged advanced algorithms and AI for dynamic pricing, peak time surges, driver allocation, etc.
- Launched India’s first large-scale electric vehicles program with Ola Electric.
Despite competition from global giants like Uber, Bhavish Aggarwal not only protected Ola’s market share but also created new mobility solutions like auto-rickshaws, bikes, self-drive car sharing, and e-vehicles.
Bhavish Aggarwal’s visionary leadership and business acumen were crucial in Ola’s journey from a fledgling startup to India’s most valuable mobility company.
Bhavish Aggarwal Age and Personal Life
- Bhavish Aggarwal was born on 28 August 1985. He is currently 37 years old (as of 2024).
- He married his college sweetheart, Rajalakshmi Aggarwal in 2014. She is currently the Chief Marketing Officer at Ola Electric.
- Bhavish dated Rajalakshmi during his IIT Bombay days for 6 years before getting married. During the early days of Ola, she even financially supported Bhavish when he was struggling to get the startup off the ground.
- Bhavish is very passionate about technology and has a hands-on approach even today. He used to write code during Ola’s initial years.
- He enjoys cycling, playing squash, and photography. He keeps a very popular photo blog to share his photographic work.
Despite achieving massive success at a young age, Bhavish Aggarwal remains humble, spiritual, and focused on continuing to innovate with technology.
- Bhavish Aggarwal, Ola owner net worth – ₹11,700 crores (as per IIFL Wealth Hurun India Rich List 2022)
- Co-founded Ola Cabs in 2011, which became India’s largest ride-hailing company
- Ola Cabs valuation stands at $7.3 billion as of 2021 and today it stands at $4.8 billion.
- Bhavish owns a 6.7% share in Ola contributing majorly to his net worth
- Visionary leadership while competing against global giant Uber
- Among the youngest self-made billionaires in India
FAQs about Ola Founder Net Worth
Here are some frequently asked questions about Ola and Ola Cabs CEO Bhavish Aggarwal
Yes, with a net worth of ₹11,700 crores, Bhavish Aggarwal is officially a billionaire.
Bhavish Aggarwal’s father is Naresh Kumar Aggarwal, who was a doctor by profession in Ludhiana where Bhavish grew up.
Bhavish Aggarwal is the founder of Ola Electric. It is owned majorly by ANI Technologies, the parent company of Ola Cabs.
SoftBank is the largest institutional investor in Ola.
Ola has raised a total funding of $3.84 billion with over 25 rounds.
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Final Thoughts about Bhavish Aggarwal Net Worth
Bhavish Aggarwal’s story serves as an inspiration for countless aspiring entrepreneurs in India. His ability to identify a critical need gap and come up with an innovative technology solution has transformed the urban transportation landscape.
As Ola continues to chart new territory with electric vehicles and other mobility solutions, we can expect Bhavish Aggarwal’s net worth and prominence to keep growing exponentially.