MakeMyTrip Buys Majority Stake in Quick Ride, Enters Ride Pooling
MakeMyTrip has acquired a majority stake in Bengaluru-based Quick Ride, marking its entry into shared mobility and ride pooling for daily urban commutes.
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giftdetect· the right gift in minutesTravel technology platform MakeMyTrip has acquired a majority stake in Quick Ride, a Bengaluru-based shared mobility startup. The deal marks the company's entry into the ride pooling segment. Financial terms of the transaction have not been disclosed.
Widening the ground transport portfolio
According to the company, the acquisition will expand MakeMyTrip's ground transportation portfolio and strengthen its presence in daily urban commutes. Until now, the company's ground transport offering has centered on travel-oriented services; ride pooling adds a use case that people rely on every working day rather than only for trips.
The move follows reports in October that MakeMyTrip was in talks to take over Quick Ride through its subsidiary redBus, the bus ticketing business within the group.
About Quick Ride
Quick Ride was founded in 2015 by KNM Rao and describes itself as an asset-light mobility platform. In practice, that means the startup does not own a fleet of vehicles. It focuses on shared rides instead.
For MakeMyTrip, the deal offers a way into a category with frequent, repeat usage, which differs from the occasional nature of holiday and business travel bookings. For commuters in Indian cities, it could eventually mean a pooling service backed by a larger travel brand.
Neither company has detailed how Quick Ride will be integrated with MakeMyTrip or redBus, or how much of the startup was acquired beyond the majority stake.
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