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MakeMyTrip acquires majority stake in Quick Ride to enter shared mobility segment

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MakeMyTrip acquires majority stake in Quick Ride to enter shared mobility segment

Travel technology platform MakeMyTrip has acquired a majority stake in Bengaluru-based shared mobility startup Quick Ride, marking its entry into the ride pooling segment. The acquisition will expand MakeMyTrip’s ground transportation portfolio and strengthen its presence in daily urban commutes.

Entrackr exclusively reported on October 19 that MakeMyTrip was in talks to acquire Quick Ride through its subsidiary redBus. However, the financial details of the transaction have not been disclosed.

Founded in 2015 by KNM Rao, Quick Ride is an asset-light mobility platform that connects people travelling along similar routes for car and bike pooling. It enables users to share rides for everyday commutes and offers services to corporate employees through partnerships with companies, IT parks and business campuses. The platform aims to make commuting more affordable while reducing the number of vehicles on roads.

According to MakeMyTrip, Quick Ride’s ride pooling business and brand have undergone an internal restructuring and are now housed under a new entity, Co Ride Mobility Private Limited. MakeMyTrip has acquired the brand and its ride pooling business through a majority stake in this entity. Quick Ride’s promoters will continue to lead the business, while its erstwhile EV taxi business will remain with the predecessor entity, iDisha Info Labs Private Limited.

Commenting on the development, Rajesh Magow, Co-founder and Group CEO of MakeMyTrip, said the acquisition will help the company establish a presence in high-frequency daily commutes within cities, alongside intercity travel. He added that Quick Ride will be housed under MakeMyTrip’s ground transport business, which will leverage its experience in building redBus in India and overseas markets to scale the platform.


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