MakeMyTrip Acquires Majority Stake in Ride Pooling Firm Quick Ride

MakeMyTrip has acquired a majority stake in Quick Ride, a Bengaluru-based shared mobility platform, to enter the ride pooling segment. Financial terms were not disclosed. Quick Ride is an asset-light platform that connects people travelling along similar routes for affordable everyday commutes.

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

Quick Ride’s brand and ride pooling business have been restructured under a new entity, Co Ride Mobility Private Limited, in which MakeMyTrip holds the majority stake. Its promoters will continue to lead the business. The erstwhile EV taxi business stays with the predecessor entity, iDisha Info Labs Private Limited. Quick Ride will be housed under MakeMyTrip’s ground transport business, led by Prakash Sangam, CEO of redBus and Head of Ground Transport.

MakeMyTrip has expanded through acquisitions in recent years, including Savaari in car rentals, Happay in corporate travel and expense management, and Flamingo Transworld in group holiday packages. It also made a minority investment in visa processing firm Atlys.

“Ride pooling gives us a presence in high-frequency daily commutes within cities, as well as intercity travel,” said Rajesh Magow, Co-Founder and Group CEO, MakeMyTrip.