MakeMyTrip (MMT) has acquired a majority stake in Bengaluru, India-based mobility company Quick Ride. Financial terms and the size of MMT's stake were not disclosed.
MMT said the deal marks its entry into the shared mobility and ride pooling segment, complementing its existing ground transportation business.
MMT acquired the Quick Ride brand and its ride pooling business, specifically. Prior to the deal, Quick Ride moved its ride pooling business into the newly formed Co Ride Mobility Private Limited. Its previous electric vehicle taxi business remains with the original company, iDisha Info Labs Private Limited.
Quick Ride connects users along similar routes and enables ride-pooling, with the goal of easing urban traffic congestion and improving commuting efficiency. It also has an enterprise go-to-market model and partnerships with corporations, IT parks and business campuses.
"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," said KNM Rao, founder and CEO of Quick Ride.
"We look forward to drawing on MakeMyTrip’s reach and experience in travel to further scale the business."
MMT noted that Quick Ride's founders will remain at the head of the business.
“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," said Rajesh Magow, MMT co-founder and group CEO.
"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."
In March, MMT acquired a majority stake in tour operator Flamingo Transworld, building on its inorganic growth strategy across key travel segments. The OTA also acquired corporate spend management technology Happay in 2024 and intercity mobility specialist Savaari in 2023.