According to Ola, the business has been sacked by over 95% in the last two months due to coronavirus infection and subsequent lockdown.
Ola CEO Bhavish Agarwal said the startup’s revenue had fallen 95% in the last two months and the business forecast is now very vague and uncertain. He said the impact of the crisis will continue for the company for a long time because of the spread of the corona virus.
“The virus crisis is very severe for our industry. In the last two months, our revenues have fallen by 95 per cent. Most importantly, this crisis has affected the livelihoods of millions of drivers and their families across India.