Ola is making its first overseas expansion by setting up operations in Colombo and Dhaka, where Uber is already present.
The Bengaluru-based cab group app is planning on going international by expanding its services across the sea to Australia and New Zealand.
Backed by Didi Chuzing’s plan, the firm is on a mission to dominate the ride-hailing market. Uber is a huge rival, already having a strong presence in Australia and New Zealand and has a hold on the competition in the market by snuffing out startups such as GoCatch. Uber currently operates in 23 cities in thee countries, giving Ola a run for its money.
It’ll be touchy competition for Ola in these countries and may even mean losses until it can get a foothold in the ride-hailing market.
London is not an option for Ola because of the high costs and the monopolization of Uber. “You need deep pockets to enter London. The money can as well be used to go into other markets,” sources said.