Ola acquired navigation and ticketing app Ridlr as India's largest ride-hailing company looks to offer bus and train booking services.
The integration of Ridlr will bring new opportunities for users to serve their mobility needs, Ola's parent ANI Technologies said in a statement. Brijraj Vaghani, founder of Ridlr, will continue to lead its operations and Ridlr's team of 64 employees will join Ola.
Ola didn't disclose the financial details of the transaction. Ridlr also declined to comment on how it's structured. It was a cash-and-stock deal, two people privy to the development told BloombergQuint requesting anonymity. Existing investors have exited Ridlr, the people said.
“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,” Bhavish Aggarwal, co-founder and chief executive officer of Ola, said.
Mumbai-based Ridlr, owned by Birds Eye Systems Pvt. Ltd., provides data on bus and train routes and prices in about 19 cities and also allows users to book tickets for public transportation services. It provides real-time traffic information as well. It had last raised $6 million in July 2016 from Times Internet, Matrix Partners—also an investor in Ola—and Qualcomm Ventures.
Ola has been adding services to take on Uber Technologies in India's expanding cab hailing market. In 2015, it bought smaller rival TaxiForSure for $200 million. Last December, it acquired food ordering app Foodpanda from its German parent Delivery Hero AG to re-enter the food delivery market. Both Uber and Ola are now backed by SoftBank.
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