Ola Shuts Down Q-commerce Platform Ola Dash
By Lokmat English Desk | Published: June 30, 2022 03:24 PM2022-06-30T15:24:53+5:302022-06-30T15:24:53+5:30
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Ride-hailing platform Ola has shut down its used vehicle business Ola Cars as well as Ola Dash, its quick-commerce business, at a time when rivals are pouring money into the 10-15 minute grocery delivery market.
The company shut Ola Cars within one year of its launch, as it shifts focus on its electric two-wheeler and car verticals. Ola has so far shut down Ola Cafe, food panda, Ola Foods, and now Ola Dash.
"Ola has reassessed its priorities and decided to shut down Ola Dash - its quick commerce business. Ola will also be reorienting its Ola Cars business to focus more on strengthening the go-to-market strategy for Ola Electric," the company said in a statement.
It added that Ola Cars' infra, technology and capabilities will be "repurposed towards growing Ola Electric's sales and service network."
Ola now aims to invest more towards its electric vehicle, cell manufacturing, and financial services businesses.
Ola Dash shuts down at a time when India's quick commerce market is all set to witness 15 times growth by 2025, reaching a market size of nearly $5.5 billion.
The total addressable market for quick commerce in India stands at $45 billion, and urban areas are driving this market on the back of mid to high-income households.
