The platform follows an enterprise-led go-to-market model
MakeMyTrip, a leading online travel company, has acquired a majority stake in Quick Ride, a Bengaluru-based technology-driven shared mobility platform, to strengthen its presence in daily urban commutes and intercity travel.
In a press statement, MakeMyTrip says that the investment provides an opportunity for the company to establish a presence in the shared mobility pooling segment, which complements its existing ground transportation portfolio.
The statement adds that Quick Ride’s platform connects people travelling along similar routes, making daily commutes more efficient while contributing to efforts to ease urban traffic congestion. The platform follows an enterprise-led go-to-market model, with partnerships across corporates, IT parks and business campuses.
The statement further adds that the Quick Ride brand and its ride-pooling business have undergone an internal restructuring and are now housed under a new entity, Co Ride Mobility. Quick Ride’s promoters will continue to lead the business, while its erstwhile electric vehicle taxi business will remain with the predecessor entity, iDisha Info Labs.
Rajesh Magow
“As part of our expansion strategy, we have pursued selective strategic partnerships, investments and acquisitions that complement and strengthen our existing business and expand the breadth and depth of our offerings. Ride pooling gives us a presence in high-frequency daily commutes within cities, as well as intercity travel,” says Rajesh Magow, Co-Founder and Group Chief Executive Officer of MakeMyTrip.
“We are excited to be part of the ride-sharing ecosystem, which has the potential to help ease traffic congestion by enabling more people to share their daily journeys. Quick Ride will be housed under our ground transport business, and we will bring the learnings from building redBus, both in India and in overseas markets, to grow and scale the business,” Magow adds.
“Our acquisition of Quick Ride’s ride-pooling business is a strategic fit, expanding our offering across a wider range of travel needs. We see an opportunity to jointly serve the same customer across more of their journeys, from the daily office commute to the weekend trip home,” says Prakash Sangam, CEO of redBus and Head of Ground Transport at MakeMyTrip.
“We built Quick Ride to make it easier for people to connect and share their everyday journeys. Becoming part of the MakeMyTrip group is an important milestone for our team and for the community of users who have placed their trust in us. We look forward to drawing on MakeMyTrip’s reach and experience in travel to further scale the business,” says KNM Rao, Founder and CEO of Quick Ride.
