Online travel giant MakeMyTrip is in talks to acquire Bengaluru-based car and bike pooling platform Quick Ride through its bus ticketing arm redBus, according to Entrackr. The deal, at the due diligence stage, is expected to involve cash and equity and could extend MakeMyTrip from holidays and intercity travel into everyday urban commuting.
<p>MakeMyTrip, India's largest online travel company, is in talks to acquire Quick Ride, a Bengaluru-based car and bike pooling platform, in a move that would take the group beyond holidays and intercity trips into the daily commute, according to a report by Entrackr on October 19.</p><p>The proposed transaction is being explored through redBus, MakeMyTrip's bus ticketing subsidiary, and is at the due diligence stage, according to a source cited in the report. The deal is expected to involve a mix of cash and equity. Its valuation and timeline have not been disclosed, and terms may change.</p><p>MakeMyTrip declined to comment on the report, and Quick Ride's founder did not respond to queries before publication.</p><h2>What Quick Ride does</h2><p>Founded in 2015 by KNM Rao, Quick Ride connects commuters travelling along similar routes so they can share cars or bikes, splitting costs and reducing the number of vehicles on the road. It also offers daily office commute solutions for corporate employees, an area that has grown as companies have brought staff back to offices after the pandemic.</p><p>The company raised an undisclosed Series A and a Series B of ₹100.78 crore, or about $14.4 million, in 2019, both from existing investors. Its backers have included Sequoia Capital India, now known as Peak XV Partners, Naspers, now part of Prosus, and Venture Highway.</p><p>The shareholding has changed significantly since then. Naspers held 20.81% in 2020 and now holds about 0.10%, according to Entrackr, while Venture Highway, which held 6.50%, is no longer a significant shareholder. Entrackr reported in 2021 that Sequoia had exited through a secondary transaction, reportedly recovering 40% to 50% of its investment across both rounds. Quick Ride's revenue, losses and user numbers were not disclosed in the report.</p><h2>Why it fits MakeMyTrip</h2><p>For MakeMyTrip, the acquisition would extend its reach into urban mobility and corporate commuting. redBus already operates rPool, a carpooling service for verified working professionals, and acquiring Quick Ride could give it a larger user base, more routes and an established brand in the segment.</p><p>Daily commuting offers something that leisure travel does not: frequency. A family might book a holiday or a train ticket a few times a year, but commuters travel twice a day, five days a week. Capturing even a small share of that activity could deepen MakeMyTrip's engagement with customers and open new revenue streams, from booking fees to corporate contracts and advertising.</p><p>Corporate travel is also a strategic priority for the group. MakeMyTrip has expanded its offerings for businesses, including through its acquisition of expense management platform Happay. Adding employee commute services could allow it to offer companies a broader package covering business travel, expenses and daily transport.</p><img src="/api/files/1792484070773-c091b0c9c07d8753265ffa69.webp" alt="355d881d-4993-4a6c-b771-c1bb4ad81532.png"><h2>The redBus angle</h2><p>redBus, which MakeMyTrip acquired through its merger with the Ibibo group in 2016, is India's leading online bus ticketing platform and has expanded into several international markets. Its strong presence in intercity travel and its large base of price-conscious users make it a natural home for a carpooling business.</p><p>India's National Company Law Tribunal has cleared the merger of redBus India into MakeMyTrip India, part of a broader restructuring that reports have linked to the company's potential plans for a domestic listing. MakeMyTrip is currently listed on Nasdaq.</p><h2>A tough market for carpooling</h2><p>Carpooling has proved a difficult business in India. Several startups have entered and exited the space over the past decade, and even ride-hailing giants have struggled to make shared rides profitable. Regulatory uncertainty over the use of private vehicles for commercial purposes, concerns about safety and the challenge of matching riders reliably have all weighed on the sector.</p><p>Bike taxis and ride-sharing services have also faced legal hurdles in several states, where regulators have questioned whether private two-wheelers and cars can be used to carry paying passengers. Quick Ride's model, which focuses on cost-sharing among commuters rather than commercial rides, aims to stay on the right side of these rules, but the regulatory environment remains complex.</p><p>On the other hand, growing traffic congestion, rising fuel prices and environmental concerns strengthen the case for shared commuting. Indian cities such as Bengaluru, Mumbai, Delhi and Hyderabad face severe congestion, and employers are under pressure to help staff get to work efficiently. Carpooling can reduce costs for commuters, ease traffic and cut emissions.</p><h2>Consolidation in Indian startups</h2><p>The talks reflect a broader wave of consolidation in India's startup ecosystem. With venture funding concentrated in fewer, larger deals, many smaller startups that raised money during the boom years are seeking strategic buyers. Larger companies with strong balance sheets, such as MakeMyTrip, are using the opportunity to acquire capabilities, users and talent at reasonable valuations.</p><p>For investors in early-stage companies, such acquisitions offer a route to exit in a market where IPOs remain out of reach for many smaller firms.</p><h2>Shared mobility after the pandemic</h2><p>Shared commuting suffered a setback during the pandemic, when concerns about health and safety led many people to avoid sharing vehicles and companies shifted to remote work. As offices have reopened and hybrid work patterns have settled, demand for reliable, affordable commuting options has returned, particularly in technology hubs such as Bengaluru, Hyderabad and Pune.</p><p>Employers have also taken a greater interest in how their staff get to work, viewing commute solutions as part of employee wellbeing and sustainability commitments. Corporate carpooling programmes can reduce parking requirements, cut emissions and make offices more accessible to employees who live far away. That corporate demand is a key reason why Quick Ride's office commute offerings may appeal to MakeMyTrip, which already serves many companies through its business travel platform.</p><h2>What to watch</h2><p>If the deal goes ahead, key questions will include how MakeMyTrip integrates Quick Ride with rPool and redBus, whether it retains the Quick Ride brand, and how it plans to scale the business in a challenging regulatory environment.</p><p>For India's commuters, a better-funded carpooling service backed by a major travel company could make shared rides more reliable and widely available. For MakeMyTrip, the move would mark a significant step towards becoming not just a travel booking platform, but a broader mobility company woven into the daily lives of Indian travellers.</p><p>For the startup ecosystem, the talks are also a reminder of how long it can take for early bets to resolve. Quick Ride has been operating for more than a decade, through a pandemic, shifting regulation and changing investor sentiment. A deal with MakeMyTrip would give it the backing of one of India's best-known consumer internet companies.</p>
“We are witnessing the birth of ‘Statist Silicon’—where the location of a transistor’s manufacture is as important as its clock speed.”
The Rise of Regional Fabric
