Ola was co-founded by Bhavish Aggarwal and Ankit Bhati, who both studied at IIT Bombay. They started Ola to provide a reliable and efficient transportation service in India using an app. Ola now operates in 65 cities with over 18,000 vehicles and adds around 1,000 vehicles per day. It offers different vehicle classes like Ola Prime for luxury rides, Ola Sedan for comfortable transportation, Ola Mini for affordable rides, and Ola Pink which is driven by female drivers. The company's vision is to use technology to provide a hassle-free and customer-focused transportation experience across India.