Hotline: 1800 102 2007
X
Search Business Opportunities
Apr, 03 2018

Ola acquires transport-ticketing app Ridlr

Ridlr offers information on bus and train routes in Delhi and Mumbai, and lets users book tickets for public transport besides giving them traffic updates.

In a bid to gain a bigger share of the Indian market, homegrown cab-hailing major Ola has acquired Ridlr, a public-transport ticketing app, for an undisclosed sum.

Ridlr offers information on bus and train routes in Delhi and Mumbai, and lets users book tickets for public transport besides giving them traffic updates. The acquisition is seen adding navigational technology to Ola and strengthening its expansion abroad.

The buyout of Ridlr comes after Ola recently raised more than $1 billion, acquired a food delivery platform, launched its services abroad, and decided to shut its bus unit, Ola Shuttle. More importantly, the move comes amid talks of Japanese conglomerate SoftBank, which has been consolidating its investments in cab-hailing services globally, trying to broker a merger deal between Ola and Uber.

As part of the acquisition, Ridlr’s current workforce of 64 will join Ola and co-founder Brijraj Vaghani will continue to lead operations, a press release said.

Ridlr, which last raised funds in July 2016, saw the full exit of venture capital firm Matrix Partners through the deal. Its acquirer Ola is also a portfolio company with Matrix.

Bhavish Aggarwal, founder and chief executive of Ola said, “Mumbai-based Ridlr, in a short span, has made huge strides, and this latest acquisition lends muscle to our efforts in making transport a far more holistic service.”

Founded in 2012 by Vaghani and Ravi Khemani, Ridlr is operated by Bird Eye Systems Pvt. Ltd. It serves Mumbai and Delhi through partnerships with Best (Brihanmumbai Electric Supply & Transport), Delhi Metro, and Mumbai Metro. It is also conducting pilot projects in other cities.

The acquisition announcement comes a little less than a month after talks of Ola acquiring Ridlr did the rounds. Last month, Mint had reported, citing unnamed persons, that the transaction would be a distress sale.

On its part, Ola has been testing waters in Australia and Sri Lanka, and, if reports are to be believed, plans to foray into Bangladesh and New Zealand.

The acquisition will also complement its earlier buy of Foodpanda’s India operations.

Comment
image
Related opportunities
  • Competitive Exam Coaching Institute
    About Us: Sinhal Classes, founded by Prof. O P Sinhal is ..
    Locations looking for expansion Maharashtra
    Establishment year 1982
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Gyms and Fitness Centres
    About Us: Kris Gethin Gyms’ Mission is to Transform India, not..
    Locations looking for expansion Delhi
    Establishment year 2007
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 5000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Want to start your own preschool with different approach? HPS..
    Locations looking for expansion Andhra Pardesh
    Establishment year 2009
    Franchising Launch Date 2009
    Investment size Rs. 10lac - 20lac
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Secunderabad Andhra Pardesh
  • Quick Service Restaurants
    About Us: Biryani queen is a unique & Conceptualized QSR brand,..
    Locations looking for expansion Delhi
    Establishment year 2014
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities