With an aim to bring in the element of speed in the name itself, ride hailing firm Ola has renamed its express grocery delivery business as Ola Dash, according to sources privy to the development.
Launched last year, it was so far called Ola Store.
Ola did not immediately respond to media query.
Moneycontrol was the first to report that Ola has set aside a budget of Rs 250 crore for the grocery delivery business and would launch it in mid-November ahead of its $2-billion initial public offering.
The company has now expanded its operations across six cities -- Delhi, Mumbai, Bangalore, Pune, Hyderabad and Chennai and is learnt to be doing around 6,000-8,000 orders on a daily basis from over a 100 dark stores, according to one of the sources quoted above.
This is the third time Ola is trying to experiment in this segment.
In July 2015, the ride-hailing firm had launched a standalone online grocery store in Bengaluru, quick on the heels of a food delivery app in March of the same year. The idea was to use its cabs and drivers to also deliver groceries, between 9 am and 11 pm.
Less than nine months later, it shut both Ola Store and Ola Foods without going into detail.
What's in the name?
This happens weeks after rival Grofers rebranded itself as Blinkit suggesting that it aims to deliver products with the blink of an eye.
The companies compete with younger rival Zepto besides Swiggy-owned Instamart, Reliance-backed Dunzo and Tata-owned BigBasket in the grocery space.
The name Ola Dash bears resemblance to American rapid delivery major DoorDash, which has a market cap of over $39.94 billion.The quick commerce frenzy has caught wind globally, with startups such as Jokr, Getir, Gorillas, and others promising 10 minute delivery in cities from New York to Turkey to London.