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|20th April 2015, 11:54||#1|
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Carzonrent buys out RidingO car-pooling service
Delhi-based cab aggregator Carzonrent has added car-pooling to its list of offered services by acquiring the Bangalore-based start-up, RidingO.
RidingO was started in 2013. It connects car owners with people looking for rides within the city. Using the internet or a mobile phone, a car owner can share empty seats in his car while commuting to and from a venue. It is an on-demand service where the car owner need not commit to ride sharing on a daily basis. The company claims to have a customer base of 8,500 users in Bangalore and clocks about 400 trips a day.
The amount for the buyout is undisclosed. Carzonrent is backed by firms like WestBridge Capital and BTS Advisors. It offers radio cabs under the brand name Easy cabs and self-drive rentals under the brand name Myles. It believes that the ride-sharing business will contribute over 75% of its business.
Source: Financial Express
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Last edited by Aditya : 20th April 2015 at 12:00.
|21st April 2015, 11:53||#2|
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Re: Carzonrent buys out RidingO car-pooling service
Very curious to know the reasoning behind this. I still insist that ride-sharing will never go mass market in India, due to limitations highlighted in the threads you've listed.
Carzonrent is a big player. Wondering how a small Ridingo caught their attention. 8,500 users is hardly anything to write home about....Carzonrent has more cars than that! Plus, I don't see a fit between the two companies at all.
Unless they bought Ridingo at a throwaway price, then it's a different matter.
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