MakeMyTrip has officially revealed that it has acquired a majority stake in Quick Ride. Quick Ride is an Indian shared mobility operator based in Bengaluru. It represents the formal launch of the travel company into the ride-pooling market segment. The strategic deal saw the Quick Ride brand, along with the dedicated ride-pooling services, moved to a new entity named Co Ride Mobility Private Limited, led by MakeMyTrip as a majority stakeholder. Ownership of the ride-pooling asset will pass to the new corporate structure, but Quick Ride’s original promoters will maintain control of day-to-day operations and take the lead on the company’s future growth initiatives
Operational model and expanding mobility offerings
Quick Ride’s business model is asset-light, seeking to link travelers who are commuting along the same path to share rides and emphasizing the needs of day-to-day urban commuters. To ensure maximum user penetration and ease of everyday commuting, the platform has formed strategic partnerships with major corporate bodies, technology parks and business centres.
The acquisition will be restricted to the brand and its road trip component, while Quick Ride’s electric vehicle taxi segment will remain with its existing entity (iDisha Info Labs Private Limited). After the deal, Quick Ride would be part of MakeMyTrip’s wider ground transport operation, along with other dominant services like redBus.
Quick Ride has now been added to MakeMyTrip’s service offering, giving the company a wider service scope for both urban and intercity travel segments. Rajesh Magow, Co-Founder and Group Chief Executive Officer of MakeMyTrip, underlined the logic behind the transaction, commenting that ride pooling gave the company a direct presence in high-frequency daily commute trips in urban areas, along with the intercity travel market segment. The growth is in keeping with the company’s vision to capture a higher proportion of the ground transportation and everyday mobility journeys of modern Indians.
Broader portfolio expansion and business acquisition
The deal marks MakeMyTrip’s second foray this year into business acquisitions in the travel space, specifically in the premium segment. In recent years, the company has also added several interesting platforms to its portfolio, such as Savaari in the rental services industry.
Happay is a corporate travel management firm, and Flamingo Transworld is a group holiday company. Meanwhile, MakeMyTrip has widened its strategic footprint as it makes minority stakes in niche businesses like visa-processing services provider Atlys, developing its trajectory as a platform for travel and mobility.
Conclusion
Quick Ride is a major player in India’s shared mobility and travel domain, with MakeMyTrip’s move to acquire a majority stake in the company marking an important step in the market. MakeMyTrip is entering the ride-pooling market as an established firm with a robust corporate presence, thus neatly connecting high frequency commutes in the city with its business already in place in intercity travel. With this strategic integration, MakeMyTrip’s extensive ground transportation portfolio is expected to get stronger, and the modern urban traveller will strengthen benefits from the convenience.
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