your password has been reset successfully, Please login again.

Ola buys public transport ticketing app Ridlr

Ride-hailing company Ola buys public transport ticketing app Ridlr.
BY BEx Bureau
BusinessEx
Apr 03, 2018

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.

Please add your Comment
SIMILAR News
May 25, 2018
The stock dropped 6.56 percent to settle at Rs 288.95 on BSE ...More
By Sanjana Surbhi
May 25, 2018
This was not the first time when Uber made profit quarterly ...More
By Sanjana Surbhi
May 25, 2018
Airtel Payments Bank was the first payments bank to start operations in India ...More
By Sanjana Surbhi
May 24, 2018
The expansion is a part of Transamerica deal with over 430 employees joining the company ...More
By Sanjana Surbhi
May 24, 2018
SoftBank had invested $2.5 billion in Flipkart last year ...More
By Sanjana Surbhi
May 23, 2018
The approval is subject to compliance of "certain modifications" ...More
By Sanjana Surbhi
May 22, 2018
It claims that Google unlawfully collected people's data by using iPhone's default setting ...More
By Sanjana Surbhi
May 22, 2018
IHS markit Ltd is a global information provider based in London, the UK planning to buy Ipreo to sup ...More
By Sanjana Surbhi
May 22, 2018
General Electronic will receive $2.9 billion in cash and 50.1 percent stake ...More
By Sanjana Surbhi
April 12, 2018
New Delhi-based startup Chariot has raised Rs.2 crore funding from GEMS Partners. ...More
By Ritu Marya
April 10, 2018
Yumlane's parent company QwikPik secures Rs.26 crore funding from RB Investments and its existing in ...More
By Ritu Marya
April 05, 2018
Digital lending startup Namaste Credit secures $3.8 million funding from Nexus Venture Partners. ...More
By Ritu Marya