Cab aggregator Carzonrent buys RidingO for an undisclosed amount

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Updated: April 17, 2015 1:13:31 PM

Delhi-based cab aggregator Carzonrent has acquired two-years old ride sharing start-up RidingO...

Carzonrent, RidingO, Carzonrent RidingO, cab aggregator, Carzonrent india, Carzonrent pvy ltd, business newsDelhi-based cab aggregator Carzonrent has acquired two-years old ride sharing start-up RidingO for an undisclosed amount to enter into the category of car-pooling.

Delhi-based cab aggregator Carzonrent has acquired two-years old ride sharing start-up RidingO for an undisclosed amount to enter into the category of car-pooling. The cab aggregator, which also offers self-drive car rental service, claims ride-share business will contribute over 75% of its business.

Started in 2000 by Rajiv K Vij, the company offers cab service under its brand name Easy Cabs and self-driving rented cars under the brand name Myles. Backed by PE firms WestBridge Capital and BTS Advisors, Carzonrent plans to focus on the consumer side.

“The biggest opportunity in personal ground transportation in coming years, will be in building a shared ecosystem that helps car owners use their assets with others. RidingO will help us get there,” Rajiv K Vij, MD and CEO, Carzonrent, said.

RidingO connects car owners to people looking for a ride within a city, and claims to have around 8,500 users in Bengaluru, clocking 400 trips a day. Started by Vardhan Koshal in 2013, RidingO is backed by Rajesh Sawhney, founder of GSF Accelerator.

In the recent past India has become a hot spot for ride-sharing with international players such as Tripda and Blablacar launching their business here. “Ride share will be the next revolution in ground transport. RidingO needed to tackle the supply side and build scale. Carzonrent helps them do that,” said Rajesh Sawhney, founder GSF Accelerator.

Sharing basis

The company offers cabs under brand name Easy Cabs and self-driving rented cars under the brand name Myles.

Backed by PE firms WestBridge Capital and BTS Advisors, Carzonrent plans to focus on the consumer side.

RidingO connects car owners to people looking for a ride within a city, and claims to have around 8,500 users in Bengaluru.

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