MakeMyTrip in talks to buy Quick Ride
By Abha Lohia ·
- Quick Ride is a Bengaluru app that matches commuters for shared car and bike rides, including office travel
- MakeMyTrip is reported to be discussing a purchase through its bus arm redBus, with due diligence under way
- The deal may mix cash and equity, and could widen the buyer's carpooling reach beyond its existing rPool service
What happened
- MakeMyTrip is in talks to acquire Quick Ride.
- The move would run through its bus unit redBus.
- The talks are at the due diligence stage, where buyers check the target's books.
- Payment is expected to be a mix of cash and equity.
Why it matters
- It would extend the buyer into urban commute services.
- redBus already runs a carpool service called rPool.
- Terms and timing may still change.
The business
- Quick Ride links commuters on similar routes for car and bike pooling.
- It also serves corporate employees with daily office commute options.
- It was founded in 2015 in Bengaluru.
The founders
KR
KNM Rao
FounderWho put in money
- Peak XV (Sequoia Capital India) investor
- Prosus (Naspers) investor
- Venture Highway investor
What happens next
- Completion timeline is not known.
Earlier rounds
- 2019: raised about ₹100.78 crore
Up against
rPool
Terms in this story
- Due diligence: Due diligence is the investigation an investor carries out on a startup after agreeing a term sheet and before sending money. It checks that what the founders said is true and finds risks that change the price or the terms.
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