MakeMyTrip buys majority stake in carpooling app Quick Ride
The travel giant is entering daily commutes, adding Bengaluru's Quick Ride to a ground-transport stable that already has redBus and Savaari.
- Deal value undisclosed
- Founder KNM Rao stays on
- Raised $14M+ earlier
What happened
MakeMyTrip has bought a majority stake in Quick Ride, a Bengaluru app that matches people travelling the same way so they can share car and bike rides. The price wasn't disclosed. Founder KNM Rao and team will keep running it.
The ride-pooling business moves into a new company, Co Ride Mobility, while Quick Ride's EV taxi business stays separate.
Why it matters
Group CEO Rajesh Magow said ride pooling gives MakeMyTrip a presence in high-frequency daily commutes within cities as well as intercity trips. Travel apps get used a few times a year; a commute app can be used twice a day.
Quick Ride works in Bengaluru, Hyderabad, Chennai, Pune, Kochi, Delhi NCR, Mumbai and Kolkata, and counts companies like Wipro, TCS and Infosys as enterprise clients.
