Indian ride-hailing start-up Ola is expected to break even by 2018 or 2019, according to the firm's CEO Bhavish Aggarwal. Citing the market dynamics in India as one reasons for Ola's success, he said the company was funded to the point of profitability and that he believed the Indian market was large enough for more than one player in the ride-hailing market. The company's valuation has been estimated at $4.5 billion based on a share price of around $16 per share.
Indian ride-hailing start-up Ola is expected to break even by 2018 or 2019, according to the firm's CEO Bhavish Aggarwal. Citing the market dynamics in India as one reasons for Ola's success, he said the company was funded to the point of profitability and that he believed the Indian market was large enough for more than one player in the ride-hailing market. Ola’s goal is in line with rival Uber’s progression to profitability after seven years.