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Jan 10, 2018 11:12 AM IST | Source: Moneycontrol.com

Ola eyes foray into Australia & New Zealand: Report

The firm is already in the works of setting up operations in Dhaka and Colombo, making it their first overseas expansion - where Uber, the US ride-hailing app, is already present.

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Bengaluru-based cab aggregator app Ola is planning to go international by expanding its services to Australia and New Zealand, reports the Business Standard.

The firm is on a mission to dominate the ride-hailing market and play a part in their investor Didi Chuxing's plan. The firm is already working to set up operations in Dhaka and Colombo, making it their first overseas expansion. Rival Uber, the US ride-hailing app, is already present in these countries.

Uber also has a strong presence in Australia and New Zealand, and has won over the competition in the market by knocking off startups such as GoCatch. Uber currently operates in 23 cities in these countries.

Presence of Uber will pose tough competition for Ola in these countries and may even mean losses until it manages to create a foothold.

Sources told the paper that London was not an option at all because of the high costs, and stronghold of Uber.  “You need deep pockets to enter London.The money can as well be used to go into other markets,” sources said.
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