In August 2016, it started as a whisper, water cooler gossip, a comment in passing but soon graduated to a serious conversation within Ola. By January 2017, the Indian unicorn, which was once valued at $5 billion, was often discussing it at its weekly meetings: it is losing market share to Uber. And it is nervous.
Hitch a ride
Ola at the crossroads
Ola started out as India’s Uber. It may have to become India’s Lyft
The Indian market, which is set to grow to $7 billion by 2020, is Ola’s to lose
In the months leading up to the down round late last year, Ola shut down divisions and fired almost 1,500 people
The moat, former employees and industry experts believe, is not deep enough
What Ola can learn from Lyft is probably accepting that this market doesn’t have to be a monopoly