MakeMyTrip in talks to acquire Quick Ride via redBus

MakeMyTrip is negotiating to acquire car and bike pooling platform Quick Ride through redBus, with the deal at the due diligence stage and likely to involve cash and equity. Bengaluru-based Quick Ride, founded in 2015, previously raised funding from Sequoia Capital India, Naspers and Venture Highway.

• Deal may mix cash and equity; completion timeline unknown
• Quick Ride was founded in 2015 by KNM Rao in Bengaluru
• Quick Ride raised Rs 100.78 crore ($14.4M) in Series B in 2019
• Naspers' stake fell from 20.81% in 2020 to about 0.10%