Ola Electric is in the middle of an IPO season. Although the Bhavish Aggarwal-led company has had to put out some fires in the past, another one appears to have propped up for the Bengaluru-based company.
Will Respond In Public
The company has been accused of copying MapMyIndia, a Delhi-based tech company that makes digital maps for services.
MapMyIndia reportedly served a legal notice to the Bengaluru-based company for copying their data and system.
This news comes to the fore after Ola Maps, a service that is used by the company, was scrutinised and therefore found to be allegedly replicating the former's system. Ola was ostensibly forced to chalk out its own navigation system after its fallout with market leader Google Maps over the issue of pricing.
Responding to allegations of copying MapMyIndia's technology and system, Aggarwal led the defence of his company from the front.
He rubbished the allegations and said that they (Ola Electric) are not in the map business. He further clarified that they are a group with three different verticles: OIa Cabs, Ola Electric and Ola Krutrim.
He rubbished the allegations and said that they (Ola Electric) are not in the map business. He further clarified that they are a group with three different verticles: OIa Cabs, Ola Electric and Ola Krutrim. |
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Ola Vs Google
He deemed this action from MapMyIndia to be opportunistic and said his company would respond to the notice and allegations in public.
Coming to Aggarwal's tussle with Alphabet-owned Google, he accused the American giant of overcharging for its GPS-based services. Although Google has since reduced its rates, Aggarwal has defiantly vowed to continue using his own system.
Ola IPO
The company's ambitious venture into Dalal Street took off when the company's initial public offering opened for subscription on Friday, August 2. The IPO will close on Tuesday, August 6. The price band for the IPO is set between Rs 72 and RS 76 per equity share. On the first day, the IPO was subscribed to at 35 per cent. Its retail portion was fully subscribed in an hour and a half.
