Bhavish Aggarwal, born on August 28, 1985, in Ludhiana, Punjab, is a prominent Indian entrepreneur and a trailblazer in the electric vehicle industry. As the co-founder and CEO of Ola Cabs and the founder of Ola Electric and OlaKrutrim, he has significantly impacted the technology and transportation sectors. His latest venture, OlaKrutrim, made headlines as India’s first AI unicorn in 2024, showcasing his ability to innovate across different technological domains.
Aggarwal’s educational background includes a bachelor’s degree in computer science and engineering from the Indian Institute of Technology Bombay, where he graduated in 2008. His career began at Microsoft Research India, where he worked as a research intern, filed two patents, and published three papers in international journals.
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Building a Tech Empire
In January 2011, Aggarwal co-founded Ola Cabs with Ankit Bhati in Bengaluru. The company started as a simple taxi-hailing service but quickly expanded to become one of India's largest ride-sharing platforms. His entrepreneurial journey has been marked by significant challenges, particularly in the early stages when pitching his vision and building the business from the ground up.
Reflecting on his decade-long experience, Aggarwal emphasizes the importance of maintaining authentic engagement with all levels of an organization. He has learned that effective leadership involves staying connected with employees and customers, despite the scale of the business. This hands-on approach, he believes, is crucial for fostering trust and collaboration within the company.
Financial Milestones and Market Impact
Aggarwal's leadership has recently been highlighted by the remarkable performance of Ola Electric in the stock market. After the company's IPO, shares of Ola Electric, backed by SoftBank Group Corp., surged, doubling in value and adding $1.4 billion to Aggarwal’s wealth. This surge has propelled his net worth to over $2.6 billion, according to the Bloomberg Billionaires Index.
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Ola Electric’s IPO, the largest in India in two years, underscores the growing investor enthusiasm for electric vehicles and the booming IPO market in the country. Despite reporting a net loss of 14.7 billion rupees for the fiscal year ending March 2023, Ola Electric's strong market debut reflects a robust demand for alternative fuels and a positive outlook on its future growth.