Ola confirmed the acquisition of transportation start-up Ridlr in an undisclosed deal. But a source with knowledge of the acquisition told TechCrunch the transaction is an all-stock worth close to $50 million.
Ridlr was founded in 2010 and now operates in over 17 Indian cities providing services like public transport ticket booking, traffic indicator, etc. The company had raised over $6 million from investors.
“This deal will bring new technology and mobility options as [Ola] works to expand into and partner with cities in India and abroad. – Ola”
Ola hasn’t disclosed the exact reason to acquire Ridlr but all we could speculate is that Ola might add public transportation booking in it’s own app and expanding range of services it offers. Since public transportation seems to be the most opted choice of transport this deal might help Ola dominate Indian market as well as help grow it’s foreign business.