MakeMyTrip Buys Into Quick Ride's Pooling Business Only, Leaving the EV Taxi Arm in the Old Company
Startups / news
MakeMyTrip Buys Into Quick Ride's Pooling Business Only, Leaving the EV Taxi Arm in the Old Company
The price, stake size and valuation are undisclosed, and neither report says what the startup's earlier investors receive.
MakeMyTrip took a majority stake on Nov. 6 in the new company that now holds Quick Ride's ride-pooling brand and business, for an undisclosed price, and left the startup's electric-vehicle taxi arm in the old company. Neither the stake size nor a valuation was disclosed.
Inc42 and Entrackr describe the same structure. The pooling brand and business moved into Co Ride Mobility Private Limited, where MakeMyTrip holds the majority. The EV taxi business stays with the predecessor entity, iDisha Info Labs Private Limited. The buyer therefore bought a carve-out, not the company that raised Quick Ride's venture money.
What Quick Ride sells
Quick Ride is a Bengaluru app that matches commuters travelling the same way, in cars and on bikes. Inc42 lists enterprise clients including Wipro, TCS, Infosys, IBM and Cognizant, and eight cities: Bengaluru, Hyderabad, Chennai, Pune, Kochi, Delhi NCR, Mumbai and Kolkata. Neither report gives revenue or user numbers, so no multiple can be worked out for the deal.
The sources disagree on a date: Inc42 says KNM Rao founded the company in 2014, Entrackr says 2015. Quick Ride's promoters will keep running the business, both said.
Who funded the old company
Entrackr reports a Rs 100.78 crore ($14.4 million) Series B in 2019 led by existing investors; Inc42 says the company raised over $14 million in total. Both name Sequoia Capital India, now Peak XV Partners, Naspers, now part of Prosus, and Venture Highway. Inc42 adds that Sequoia exited in 2021.
Those investors sit in the entity that kept the EV taxi arm. Neither report says what they receive for the pooling business that left it, which is the term that would show whether the deal was a sale or a rescue.
Where it fits at MakeMyTrip
Entrackr first reported on Oct. 19 that MakeMyTrip was in talks to buy Quick Ride through its subsidiary redBus, 18 days before the close was reported. Quick Ride will sit in MakeMyTrip's ground transport business beside redBus and Savaari, under Prakash Sangam, chief executive of redBus and head of ground transport.
| MakeMyTrip purchase | Segment |
|---|---|
| Savaari | Car rentals |
| Happay | Corporate travel and expense management |
| Flamingo Transworld | Regional group holidays |
| Atlys (minority stake) | Visa processing |
| Quick Ride (majority of Co Ride Mobility) | Ride pooling |
Rajesh Magow, MakeMyTrip's group chief executive, said: "Ride pooling gives us a presence in high-frequency daily commutes within cities."
The buyer's own earnings are softer than its acquisition pace. Inc42 reported that MakeMyTrip's consolidated net profit for the quarter ended June 30, 2026 fell 65% to $9.1 million from $25.8 million a year earlier, while revenue rose 6% to $285.6 million.
- Q1 FY2625.8 $ million
- Q1 FY279.1 $ million
Source: Inc42, Nov. 6, 2026
For comparison, this site's earlier India coverage could price listed companies off profit, as with Moneyview at 12 times annualised profit, and small private raises such as Cosmoserve's $6 million seed gave their size. This deal gives neither a price nor a stake.
The first place the stake would appear is a Registrar of Companies filing for Co Ride Mobility Private Limited, and neither report says one has been made.
Sources
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