Ridlr, an end to end public transport ticketing and commuting app got acquired by cab aggregator Ola on Tuesday. Industry observers opine that the acquisition will facilitate the growth of cutting edge new technology as well as help in diversifying mobility options which will enable expansion.
The Mumbai based Ridlr was founded by Brijraj Vaghani and Ravi Khemani in 2010 is run by Birds Eye Systems Pvt. Ltd and the main investors in the company include Times Internet, Matrix Partners and Qualcomm Ventures. The last tranche of investment of around USD 6 million was made in 2016.
Ridlr allows users to book train and bus tickets through its app and is available in 19 cities using GPS technology to indicate real time status of buses and trains. The acquisition is expected to help Ola expand its operations by leveraging Ridlr’s expertise.
Speaking to the press soon after the acquisition, Bhavish Aggarwal said that Ridlr will help in Ola’s expansion as the focus would now be towards providing a holistic approach to transport. He further added that Ola will be absorbing the 64 member team of Ridlr.
Ridlr, which specialises in seamless public transport will benefit from the acquisition as Ola is part of an ecosystem that has changed urban mobility through its ridesharing patterns in the urban commuting space.
In 2015, the Bengaluru based cab aggregator had taken over a junior rival, TaxiForSure in the cab hailing business. Ola, which competes with the global Uber, re-entered the food delivery business with Ola Cafe after Uber aggressively launched Uber Eats. Towards the end of 2017, Ola had acquired Foodpanda in a deal that was worth USD 40 to USD 50 million.