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Ola acquires public transport app Ridlr in all-stock deal

Ride-hailing company Ola has acquired Mumbai-based public transport ticketing and commuting service Ridlr in an all-stock deal. Ridlr, which was founded in 2012 has been able to work with BEST, and Mumbai and Delhi Metro services to allow ticketing and other conveniences such as real-time tracking. Ridlr’s team of 64 employees will join Ola, along with Brijraj Vaghani, founder of Ridlr continuing to lead operations for the company. While Ridlr has run several pilots in other cities, it has found it hard to expand its service to more than two or three transport operators. In July 2016, Ridlr had raised about $6 million from investors like Matrix Partners India and Times Internet. It did not receive any significant funding since. Livemint which first reported the possible sale last month had noted that this was a distress sale. Talking about the…

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