Eight months after Bookmycab got a license to operate in Delhi NCR, it has been acquired by Pune based cab provider Wings Travels for an undisclosed amount, reports ET. Wings plans to expand its business to 47 new cities in India, Myanmar, Thailand, Vietnam and Sri Lanka, according to the report, and strengthen its technology with this acquisition. The combined entity will be called Wings Bookmycab, and will bring on board Bookmycab’s investors YourNest Angel Fund and Contrarian Drishti Partners as investors in Wings. Bookmycab was apparently exploring acquisition options with Jugnoo, which raised about $10 million in funding from Paytm in November 2015, but the deal did not go through. ET adds that Wings Travel provides transport for 10 lakh employees across 9 cities. Wings Travels has several brands under its company: Wings Radio Cabs, Wings Premium and Ultra (luxury cars), Economy, Sakhi (driven by women, for women passengers), Ekab rentals, Bus Pool, Talk of the town, a quarterly magazine, Lanna Wellness, a spa in Pune, Bangalore and Hyderabad and Wings Rainbow, a radio taxi service for the Lesbian Gay Bisexual Transgender (LGBT) community in Mumbai, which will start operations next year. In July 2015, Bookmycab’s Delhi NCR license lets it operate as an aggregator in the region. At that time, it claimed to have a license from Maharashtra government to provide cab services over phone or app and operated in Mumbai, Kolkata, Delhi-NCR and Hyderabad. It had plans to expand to Chennai, Bangalore and Pune. Funding and acquisition: In…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...