Ola planning to forey into grocery delivery business soon
By MYBRANDBOOK
Ride-hailing app Ola is planning to come out with a $2 billion IPO in early 2022. It has set aside a ₹250-crore budget for grocery delivery business and set to get into the hyper-local and super competitive grocery delivery space with a new mantra.
Ola is reportedly planning to start this division by mid-November and set up 300 dark stores by January and wants to attain a revenue run rate of ₹100 crore a month ahead of IPO.
This is not the first time that the firm will attempt to venture into the category. In July 2015, Ola launched a standalone online grocery store called Ola Store in Bengaluru following other cities but was shut within some time mainly due to poor demand and increasing costs, according to the sources. The idea was to use its cabs and drivers to also deliver groceries, between 9 am and 11 pm.
Ola needs a diverse portfolio of businesses that goes beyond cab aggregation and rides as it prepares to hit the two-wheeler business via Ola Electric in the public markets soon. That may be the reason it is trying to revive its online food and grocery delivery businesses.
Vinay Bhopatkar, who joined the firm in August this year, is heading Ola’s delivery business and has earlier been associated with Cafe Coffee Day, Aditya Birla Fashion, and Asian Paints.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Acer addresses evolving customer needs by consistently pushing
Acer offers a comprehensive range of products under one roof, including des
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
TEJAS NETWORKS INDIA PVT. LTD.
EXATRON SERVERS MANUFACTURING PVT. LTD.
MICROTEK INTERNATIONAL PVT. LTD.
GLOBUS INFOCOM LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Anil Agarwal
Anil Agarwal, the Founder and Chairman of Vedanta Resources Ltd., is r...
Icons Of India : Bhavish Aggarwal
Indian entrepreneur Bhavish Aggarwal is the CEO of Ola, India’s larg...
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
PARTNER SPEAKERS
PSU
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
CERT-IN - Indian Computer Emergency Response Team
CERT-In is a national nodal agency for responding to computer security...
CSC - Common Service Centres
CSC initiative in India is a strategic cornerstone of the Digital Indi...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Soni Jiandani, Co-Founder- Pensando Systems
Soni Jiandani, Co-Founder of Pensando Systems, is a tech visionary ren...
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
