MakeMyTrip acquires majority stake in Quick Ride, promoters retain leadership
Business
MakeMyTrip just bought a majority stake in Quick Ride, the Bengaluru-based platform known for carpooling and shared rides. The goal? To boost MakeMyTrip's presence in the shared mobility scene.
Quick Ride will now operate as Co Ride Mobility Private Limited, still led by its promoters.
MakeMyTrip expands into shared mobility
This move is part of MakeMyTrip's plan to expand into shared mobility. Co-founder and group CEO Rajesh Magow says adding ride pooling helps it cover both city and out-of-town trips.
Quick Ride's founder and CEO KNM Rao is upbeat about joining forces, saying MakeMyTrip's reach can help it grow even faster.