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
Indian cab hailing giant Ola has announced the acquisition of Mumbai based Ridlr, an end-to-end public transport ticketing and commuting app. The acquisition will help Ola integrate Riddlr in the app giving users a better experience. The deal is stated to be a straight stock transaction. Further Ridlr’s 64 employees team will be joining Ola. The company is currently being operated in Mumbai and Delhi with partnerships with Delhi metro, BEST, and Mumbai Metro, with expansion plans in other cities. This marks as Ola’s second biggest investment in India, it acquired FoodPanda for almost $50 million last year.
Founded in 2012 by Ravi Khemani and Brijraj Vaghani, Ridlr helps users search and book public transport options through their mobile phones. The company further holds proprietary IoT-enabled devices enabling the process. Combining Ridlr’s innovations in mass transit with Ola’s mobility products will enable a multi-modal mobility solutions for users at scale. With this acquisition, the cab hailing company will bring new technology and mobility options as it works to expand into and partner with cities in India and abroad.
Commenting on the acquisition, Bhavish Aggarwal Cofounder and CEO of Ola said, “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.”
Talking on the challenges, he added, “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, and this latest acquisition lends muscle to our efforts in making transportation a far more holistic service. I am delighted to welcome the Ridlr team on board and join our mission of building mobility for a billion people.”
Talking the strategic investment and the future of Ola-Ridlr, Brijraj Vaghani, Founder – Ridlr said, “The digital technology-driven services of Ridlr and Ola are a perfect synergistic fit. 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 in-roads in the realm of urban mobility through its smart ridesharing solutions. 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.”