India based ride- hailing company Ola announced that it’s planning to have its initial public offering (IPO) on the first half of next year. During this revelation, the company’s chief executive, Bhavish Aggarwal, said that although Indian start-ups have been developing cold feet of going public due to recent volatility and lackluster, that doesn’t bother them.
“We are not a company that takes a short-term view on anything. Short-term, there might be volatilities in the market but that has never informed our decisions,” said the CEO.
The CEO, who is also the company’s founder, further added that they are mobilizing things to create something of a ‘super app’ which will widen the services they offer to include micro insurance and microfinance.
“Our vision for the Ola business is to be a large, broad-based mobility platform. The Ola app already allows its 150 million customers to buy and sell new and used cars, and avail vehicle finance and insurance,” added the CEO.
The global transport industry has indeed been affected by the pandemic due to movement restrictions and reduced travelling volumes around the world. The CEO acknowledges that Ola has also been affected just like any other company in the sector but also points out that business has been making a slow comeback in recent times.