MakeMyTrip Buys a Majority of Quick Ride With No Price, No Stake Size and No Filing Cited
Startups / news
MakeMyTrip Buys a Majority of Quick Ride With No Price, No Stake Size and No Filing Cited
The ride-pooling app moves into a new company, Co Ride Mobility, while its EV taxi arm stays behind, and two Indian outlets disagree on when Quick Ride was founded.
MakeMyTrip has bought a majority stake in Quick Ride, a Bengaluru car and bike pooling app, for an undisclosed sum and an undisclosed percentage. The stake sits in a new company, Co Ride Mobility Private Limited, which now holds Quick Ride's brand and ride-pooling business.
The deal was reported on November 6 by Entrackr and Inc42, and Inc42 quotes a MakeMyTrip statement. Neither cites a regulatory filing, so there is no document yet that carries a price. Entrackr first reported talks on October 19, when it said redBus, MakeMyTrip's bus-ticketing arm, would be the buyer.
What is and is not disclosed
| Term | What the two reports give |
|---|---|
| Stake | "Majority", no percentage |
| Price | Undisclosed |
| Valuation | Not stated |
| Quick Ride financials | None published |
| Buyer | MakeMyTrip, through redBus per Entrackr's October 19 report |
Both reports say MakeMyTrip has acquired the stake, so this reads as completed rather than merely announced. Without a price, though, it cannot be set against any comparable.
The carve-out and what Quick Ride is
Quick Ride's EV taxi business stays behind in its predecessor company, iDisha Info Labs Private Limited. Only the pooling app and enterprise commuter service moved, and the founders continue to run it: KNM Rao, who founded Quick Ride, and his team remain in charge, according to both reports.
The two reports disagree on the founding year. Entrackr says 2015 and Inc42 says 2014. They also differ on Sequoia: Entrackr lists Sequoia Capital India, now Peak XV Partners, among investors, while Inc42 says Sequoia exited in 2021. Naspers, now part of Prosus, and Venture Highway are named by both.
The one disclosed financing is the 2019 Series B of ₹100.78 crore, about $14.4 million per Entrackr, led by existing investors. Inc42 puts total funding at over $14 million. That is a small cap table for a company whose enterprise clients, Inc42 lists, include Wipro, TCS, Infosys, IBM and Cognizant, across Bengaluru, Hyderabad, Chennai, Pune, Kochi, Delhi NCR, Mumbai and Kolkata.
Why MakeMyTrip wants commuting
Rajesh Magow, MakeMyTrip's co-founder and group CEO, said ride pooling "gives us a presence in high-frequency daily commutes within cities, as well as intercity travel," per Inc42. Entrackr names Prakash Sangam, CEO of redBus and head of ground transport at MakeMyTrip, and reports that the ground transport business will use its redBus experience to scale Quick Ride.
It is MakeMyTrip's latest purchase after Savaari for car rentals, Happay for corporate travel and expenses, and a majority stake in Flamingo Transworld for regional group holidays. It also took a minority stake in Atlys, a visa processing company. Neither report dates those deals.
The buyer's own earnings are softer. Inc42 reports that MakeMyTrip's net profit for the quarter ended June 30, 2026 fell 65% year on year to $9.1 million from $25.8 million, while revenue rose 6% to $285.6 million. Buying a pooling app with undisclosed economics adds a line of business where margins are unknown to outsiders.
Other Indian rounds this season at least gave a number to argue about. GIVA's ₹975 crore round came with a valuation floor of ₹4,500 crore, and EloElo's Series C was reportedly priced at $500 million. Quick Ride has offered neither a price nor a floor.
The next observable event is MakeMyTrip's quarterly report for the three months to September 30, which should say whether the acquisition appears in its segment results and what it cost.
Sources
More in Startups
- 01Momentic's Mo Matches 269 of 1,396 Labelled Bugs on a Benchmark Momentic Built, at 3.3 Times Codex's Cost Per BugThe Y Combinator W24 company's own QA Bench shows Mo with 19.3% recall and 84% precision, with no per-app results and no run count published.
- 02Harbinger Raises $240 Million Series D, 1.5 Times Its Series C, With No Valuation and No Delivery CountTiger Global, Capricorn and Ridgeline co-led the round, while FedEx's 2,000-truck order, worth over $300 million, remains the only customer figure.
- 03Dropbox's $350 Million Tigris Deal Is 14 Times the Startup's Series A, and Still Only AnnouncedThe 8-K prices the largest acquisition in Dropbox's history at about $350 million in cash, with closing expected in the fourth quarter and no revenue disclosed.
- 04PhysicsWallah Swings to ₹143.6 Crore Profit as Costs Fall 11%Other income supplies 40 percent of PhysicsWallah's pre-tax cushion against 18 percent at Lenskart, whose September-quarter results Inc42 dated Nov. 4.