Bhavish Aggarwal: The Man Who Built an Indian Mobility Empire
In the world of Indian entrepreneurship, few stories are as compelling as that of Bhavish Aggarwal, the visionary who
In the world of Indian entrepreneurship, few stories are as compelling as that of Bhavish Aggarwal, the visionary who transformed a single moment of frustration into a multi-billion-dollar mobility and technology empire. His journey from an abandoned passenger on a highway to becoming one of India’s youngest self-made billionaires offers profound lessons about resilience, market understanding, and the power of turning problems into opportunities.
The Spark That Changed Everything
The year was 2010, and Bhavish Aggarwal was just another young engineer fresh out of IIT Bombay, working at Microsoft Research. During a weekend trip from Bangalore to Bandipur with his friend Ankit Bhati, their taxi driver demanded extra payment beyond the agreed fare. When they refused, the driver abandoned them on the roadside, leaving them stranded and furious.
Most people would have simply found another taxi and forgotten the incident. But Bhavish Aggarwal saw something different—a systemic problem that millions of Indians faced daily. The lack of reliable, transparent transportation was not just his problem; it was a national crisis waiting for a solution.
Within months, Aggarwal had quit his comfortable job at Microsoft, where he had already filed two patents and published three research papers. In September 2010, working from his Mumbai home, he co-founded Ola Cabs with Ankit Bhati, determined to revolutionise how Indians travel.
Building India’s Mobility Giant
Bhavish Aggarwal’s genius lay not just in identifying the problem, but in understanding the unique nuances of the Indian market. While global giants like Uber focused on premium segments, Aggarwal built Ola around India’s diverse transportation needs. The platform offered everything from auto-rickshaws to luxury cars, accepted cash payments when digital adoption was limited, and provided customer support in local languages.
This deep market insight paid off spectacularly. Ola rapidly expanded across India, eventually serving over 200 million customers through a network of 2.5 million driver-partners across 250+ cities. At its peak, the company commanded nearly 60% of India’s ride-hailing market, successfully keeping global titan Uber at bay.
The intense rivalry between Ola and Uber became legendary in startup circles. Bhavish Aggarwal proved that with the right strategy, local startups could not only compete with but actually outmaneuver well-funded international players. This success attracted major investors including SoftBank, Tiger Global, and Matrix Partners, validating Aggarwal’s vision and approach.
The Visionary’s Ambitious Expansion
But Bhavish Aggarwal was never content with just ride-hailing. His entrepreneurial ambitions extended far beyond taxis. In 2017, he launched Ola Electric as a subsidiary, recognizing early that the future of mobility would be electric. This foresight proved remarkable—by 2024, Ola Electric had become India’s largest electric vehicle manufacturer, selling over 300,000 units in a single fiscal year and capturing 35% of the electric two-wheeler market.
The company’s IPO in August 2024 marked a historic milestone, making Ola Electric the first Indian new-age EV startup to go public. The listing briefly propelled Bhavish Aggarwal’s net worth to $4.7 billion, cementing his status as one of India’s youngest billionaires.
Perhaps most remarkably, Aggarwal didn’t stop there. In 2024, he launched Krutrim, an AI startup focused on building large language models for Indian languages. Within just 40 days of its launch, Krutrim achieved unicorn status with a $1 billion valuation, becoming India’s first AI unicorn and establishing Bhavish Aggarwal as one of only two Indian entrepreneurs to have founded three unicorns.
Lessons from the Rollercoaster
However, Bhavish Aggarwal’s journey hasn’t been without turbulence. His aggressive, no-nonsense leadership style has led to high executive turnover, with co-founder Ankit Bhati departing in 2020 and numerous senior executives leaving over the years. Critics have described his management approach as “abrasive,” though supporters argue this intensity is necessary for breakthrough innovation.
More recently, Ola has faced significant challenges. The company’s ride-hailing market share has declined from 59% to 34%, losing ground to both Uber and new entrants like Rapido. Ola Electric, despite its market leadership, has grappled with quality issues, customer complaints, and regulatory scrutiny, with its stock price falling over 40% from IPO levels.
These setbacks offer valuable lessons about the importance of operational excellence alongside visionary thinking. Bhavish Aggarwal’s tendency to rapidly diversify into new ventures—while demonstrating remarkable entrepreneurial energy—has sometimes come at the cost of focusing on core business profitability and customer satisfaction.
The Enduring Legacy
Despite current challenges, Bhavish Aggarwal’s impact on Indian entrepreneurship remains profound. He demonstrated that Indian startups could build global-scale businesses, compete with international giants, and create entirely new market categories. His success inspired countless entrepreneurs to think bigger and bolder about what Indian companies could achieve.
More importantly, Aggarwal’s story embodies the classic entrepreneurial spirit—the ability to see opportunity in adversity, the courage to quit comfortable jobs for uncertain ventures, and the persistence to build despite setbacks. His journey from that frustrated passenger on a Bangalore highway to a multi-billionaire entrepreneur illustrates how individual experiences can spark systemic change.
Today, as Bhavish Aggarwal navigates the challenges facing his empire, his story serves as both inspiration and cautionary tale. It reminds us that entrepreneurial success requires not just visionary thinking and aggressive execution, but also sustained focus on operational excellence and customer satisfaction.
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