MakeMyTrip has acquired a majority stake in Bengaluru-based shared mobility platform Quick Ride, marking its entry into the ride pooling segment and expanding its ground transportation portfolio.
The acquisition covers the Quick Ride brand and its ride pooling business, which have been transferred to a newly formed entity, Co Ride Mobility Private Limited, following an internal restructuring. Quick Ride’s promoters will continue to lead the business, while its erstwhile electric vehicle (EV) taxi business will remain with the predecessor entity, iDisha Info Labs Private Limited.
Quick Ride operates an asset-light platform that connects commuters travelling along similar routes, enabling them to share rides for daily journeys. The company follows an enterprise-led business model, with partnerships across corporates, IT parks and business campuses.
The acquisition gives MakeMyTrip access to the daily commuting segment, complementing its existing travel and ground transportation offerings. The company plans to house Quick Ride under its ground transportation business, alongside its existing operations through redBus.
Rajesh Magow, Co-Founder and Group CEO, MakeMyTrip, said the acquisition would extend the company's presence into high-frequency intra-city commutes and intercity travel. He added that MakeMyTrip intends to apply its experience in building redBus in India and overseas markets to expand Quick Ride's operations.
Prakash Sangam, CEO of redBus and Head of Ground Transport at MakeMyTrip, said the acquisition would allow the group to address a wider range of travel requirements, including daily office commutes and weekend intercity journeys.
KNM Rao, Founder and CEO of Quick Ride, said the platform would use MakeMyTrip's reach and travel industry experience to expand its business.
The acquisition follows MakeMyTrip's investments and acquisitions across different travel-related segments. These include Savaari in car rental services, Happay in corporate travel and expense management, Flamingo Transworld in regional group holiday packages, and a minority investment in visa-processing platform Atlys.
With Quick Ride, MakeMyTrip adds ride pooling to its existing portfolio of travel and ground transportation services.