EaseMyTrip Acquires YoloBus for Undisclosed Amount
Online travel platform EaseMyTrip on Thursday said it is acquiring YoloBus, a next-generation premium intercity mobility platform, for an undisclosed amount to expand its non-air business.
The acquisition includes the brand name of YoloBus, its technology, team, running business and data expertise, the company said in a statement.
EaseMyTrip will leverage YoloBus’ full-stack technology-enabled platform to offer an enhanced and superior bus travel experience with safe, clean, comfortable and connected buses for seamless intercity travel, it added.
Commenting on the acquisition, EaseMyTrip co-founder Rikant Pittie said, “Tech-enabled bus mobility is the future, and we are expecting to witness a phenomenal growth in the coming period”.
Stating that YoloBus has carved a niche for itself in the mobility sector, he said, “We are confident that its tech-backed mobility solutions will be a huge draw for travellers and will further strengthen EaseMyTrip’s position in the segment”.
Last year, YoloBus had raised Series-A funding, at a valuation of Rs 84 crore, from marquee investors like Nexus Venture Partners and India Quotient.
It runs on a mobility template taking care of the operational side of the business, including scheduling of buses, ticketing, customer service, and network planning. Over 3 lakh customers have travelled using its platform across 250 plus routes, connecting major tier-I cities to tier II and III cities.
( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a gadgets.ndtv.com feed.)
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