MUMBAI -- Anyone who has experienced Mumbai's creaky public transport knows what a challenge it can be to get around India's commercial capital. For busy professionals, a chauffeur-driven car is often the best choice. Olacabs is taking advantage.
The company was founded in 2010 by Bhavish Aggarwal and a classmate from the prestigious Indian Institute of Technology. Aggarwal had graduated with a bachelor's degree in computer science and engineering from IIT Bombay in 2008; he then worked at Microsoft Research for two years.
The 28-year-old CEO's bright idea was to enable people to hire drivers by smartphone, a first for the country. This earned him a reputation as an up-and-coming leader of a young business. Ankit Bhati, Olacabs' co-founder and chief technology officer, handles the technical aspects of Aggarwal's visions.
Another Olacabs innovation is to let customers track where the hired car is driving in real time.
Rather than buy its own fleet of cars, Olacabs ties up with local taxi providers. It can call upon about 6,000 cars in Mumbai, Delhi and other big cities in India.
Aggarwal is intent on improving his company's service. He is trying to develop a system that will let customers determine their car's exact arrival time. Industry observers will be keeping a close eye on the company's growth in 2014.