After acquiring food ordering and delivery startup FoodPanda in December 2017, Ola has now announced the acquisition of transportation app Ridlr. The acquisition, as per the cab-hailing platform, is to help in its integration with public transportation infrastructure.
Ola had acquired FoodPanda from Germany-based Delivery Hero Group in exchange for stock and reportedly was to infuse $200 million in the FoodPanda’s India operations. However, the details of them acquiring Ridlr was not shared.
Ridlr enables users to search and book the best public transport options through mobile phone. Started in 2012, the startup’s proprietary internet of things (IoT) devices brings digital capabilities to public transportation in India and provides real-time traffic information.
“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. 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,” said Bhavish Aggarwal, co-founder and CEO, Ola. Reportedly, the Bengaluru-based startup also said that the acquisition will bring new technology and mobility options for its partners with cities in India and abroad.
The home-grown cab-aggregator announced their entry into Australia earlier this year marking their foray into international markets starting with Sydney, Melbourne and Perth.
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 ride- sharing 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.” As part of the acquisition, Ola will also absorb the 64-member team of Ridlr employees.