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Ola Acquires Ridlr
Ola today said it has acquired Ridlr, an end-to-end public transport ticketing and commuting app.
Cab aggregator Ola today said it has acquired Ridlr, an end-to-end public transport ticketing and commuting app. "The acquisition complements Ola's continued efforts to integrate its mobility platform with public transportation infrastructure," Ola said in a statement.
The size of the deal was however not disclosed. With this acquisition, Ola will bring new technology and mobility options as it works to expand into and partner cities in India and abroad, it added.
Established in 2012, Mumbai-based Ridlr enables users to search and book public transport options on mobile phones. "Public transportation serves millions of Indians every day, and powering these needs with real-time information, mobile ticketing, cashless payments, and reliable services is bound to impact their end experience," Ola co-founder and CEO Bhavish Aggarwal said.
He added that the acquisition lends muscle to the company's efforts in making transportation a more holistic service. Ridlr will become a wholly-owned subsidiary of ANI Technologies, which owns Ola brand. Ridlr's team of 64 employees will now become a part of Ola. Brijraj Vaghani, founder of Ridlr, will continue to lead the operations.
"By joining forces with Ola, we are delighted to become part of an evolved ecosystem that will act as a one-stop destination for any urban commute in an affordable and seamless manner," Vaghani said. Ridlr is serving commuters in Mumbai and Delhi with partnerships with BEST, Delhi Metro, and Mumbai metro, along with pilots in many other cities.
In December, Ola had bought food ordering app Foodpanda from its German parent Delivery Hero AG to re-enter the food delivery business and take on rivals like Uber Eats, Zomato and Swiggy. Ola had acquired smaller rival TaxiForSure in March 2015.
Recently, Ola said it is always looking for opportunities to grow its footprint. There have been reports about Uber and rival Ola joining forces in the Indian market. The speculations got stronger after SoftBank – an investor in Ola – joined Uber as an investor committing over USD 1 billion.
Apart from India, the two now also compete in the Australian market with Ola recently launching its services in Perth and Sydney. According to sources, the two have held multiple rounds of discussions, including one just before Uber CEO Dara Khosrowshahi's visit in February this year but the two parties are yet to strike a deal. Both, Ola and Uber have declined to comment on whether they are engaged in merger discussions.
Source: PTI
