Confident with his plan of building an independent and sustainable business in India, Aggarwal took a dig at Uber suggesting that the US Company has short-term strategies in India.
Ola, which is widely considered as the major Indian rival of popular cab service company Uber, is planning to go public expectedly in the coming three to four years, as per its CEO.
As per a report published by TechCrunch, Bhavish Aggarwal, co-founder and Chief Executive Officer of Ola, said at a Bengaluru event last week that the company has recently hit the operational profitability and it is planning to become a cash flow positive business which would be a key driver to the listing.
At India Business Summit – Leaders Speak, an event by ICICI Bank and CNBC-TV18 in Bengaluru, Aggarwal said, “The ambition for both me and [fellow co-founder] Ankiti [Bhati] has always been to build a sustainable, long-term independent institution. In that direction, we are definitely going to IPO.
"Our goal is to aim for an IPO in about three to four years. We are on that path, our focus on building a sustainable business model [and] a profitable business builds into that ambition,” he said.
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He did not specify the place where the listing of Ola might take place.
Aggrawal added,“Competition makes you stronger, we don’t fear competition. We have a much stronger business, strong market position and we’re getting to a place where we can list the company.”