Indias online cab aggregator platform Ola acquires public transport ticketing and commuting app Ridlr. This is a strategic move made by the ride-hailing app Ola as it plans to foray into public transport through Ridlr. The deal amount was not disclosed but the acquisition was made mainly in stocks.
In 2010, the Bengaluru-based startup Ola was founded by Ankit Bhati and Bhavish Aggarwal. The company provides hassle-free cab services in different cities all over India. The company plans to expand its operations in public transportation via this acquisition. This is the second major acquisition made by the company as it has acquired online food delivery platform Foodpanda India operations in December 2017 for $40-$50 million.
Aggarwal said, Public transportation serves millions of Indians every day, and powering these needs with real-time information,mobileticketing, cashless payments, and reliable services is bound to impact their end experience. The challenge really is to make the entire ecosystem inclusive and robust for all. Ridlr, in a short span, has made huge strides in this space.
In 2012, the Mumbai-based real-time travel solutions provider Ridlr was founded by Brijraj Vaghani and Ravi Khemani. The company was working with BEST and with metro services to allow ticketing and other services like real-time tracking servicing. The company also raised $6 million in 2016 from Matrix Partners India and Times Internet.
We have been offering end-to-end mass transit solutions to Indians, making their daily commute seamless across different public transportation modes. Ola, on the other hand, has made deep inroads in the realm of urban mobility through its smart ridesharing solutions. By joining forces with Ola, we will act as a one-stop destination for any urban commute, said Brijraj Vaghani, founder of Ridlr.