MakeMyTrip takes majority stake in Quick Ride

MakeMyTrip announced that it has acquired a majority stake in ‘Quick Ride’, a technology-led shared mobility platform. The investment provides an opportunity to MakeMyTrip to establish a presence in the shared mobility / ride pooling segment, which is complementary to the group’s existing ground transportation portfolio.

Headquartered in Bengaluru, Quick Ride is a technology-led, asset-light shared mobility platform that connects people travelling along similar routes, enabling affordable ride pooling for everyday commutes. By encouraging greater sharing of existing vehicles, the platform aims to make commuting more efficient and contribute to easing urban traffic congestion. Quick Ride also has an enterprise led go to market model, with partnerships across corporates, IT parks and business campuses.

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

Rajesh Magow, Co-Founder & Group Chief Executive Officer, MakeMyTrip, said, “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. 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.”

Prakash Sangam, CEO, redBus and Head - Ground Transport, MakeMyTrip, said, “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.”

KNM Rao, Founder & CEO, Quick Ride, said, “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.”

During recent years, MakeMyTrip has expanded its capabilities through acquisitions across travel segments, including Savaari in car rental services, Happay in corporate travel and expense management, Flamingo Transworld in regional group holiday packages and through strategic minority investment in Atlys in visa processing. These businesses extend its reach across ground transport, group travel and ancillary services, enabling it to offer customers end-to-end trip planning and enhancing choice and convenience. The acquisition of Quick Ride offers an opportunity to enter the ride pooling business.