AcquisitionMobility & Logistics
MakeMyTrip buys majority of Quick Ride
By Abha Lohia · Editor ·
Quick Ride: funding and every story →
Majority stakeBengaluru
- Quick Ride is a Bengaluru app that matches people for shared car and bike rides, for daily commutes and intercity trips
- MakeMyTrip has taken a majority holding in the pooling business, now housed in a new company; price and stake size are undisclosed
- It joins redBus and Savaari in MakeMyTrip's ground transport arm, while Quick Ride's electric taxi unit stays outside the deal
What happened
- MakeMyTrip has bought a majority stake in Quick Ride's pooling business.
- The business moved into a new company, Co Ride Mobility, before the deal.
- Deal value and stake size were not shared.
- Quick Ride joins redBus and Savaari under ground transport.
- Current Quick Ride leaders will keep running the business.
Why it matters
- It extends MakeMyTrip from intercity travel into daily commuting.
- It adds a ride pooling product to the group's ground transport lineup.
- MakeMyTrip plans to apply what it learned building redBus.
The business
- Quick Ride is a car and bike pooling platform.
- It is based in Bengaluru.
- The electric taxi business stays with the earlier company, iDisha Info Labs.
Other articles talking about it
Indian Startup News ↗Business Standard ↗Entrackr ↗Inc42 ↗CNBC-TV18 ↗The Hindu BusinessLine ↗The Hindu BusinessLine ↗
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