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.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : ASHISH KUMAR CHAUHAN
Ashish kumar Chauhan, an Indian business executive and administrator, ...
Icons Of India : Harsh Jain
Harsh Jain, the co-founder of Dream 11, the largest fantasy sports web...
ICONS OF INDIA : ROSHNI NADAR MALHOTRA
Roshni Nadar Malhotra is the Chairperson of HCLTech, a leading global ...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
IFFCO - Indian Farmers Fertiliser Cooperative
IFFCO operates as a cooperative society owned and controlled by its fa...
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...