EaseMyTrip announced on Thursday that it is acquiring the brand name, technology, team, running business and ‘data expertise’ of YoloBus, an intercity mobility platform. The company said the acquisition will add a new revenue stream and will ‘fast-track’ its growth in the non-air segment.
EaseMyTrip said it will leverage YoloBus’ full-stack technology-enabled platform to offer an enhanced bus travel experience at ‘delightful’ prices.
It said EaseMyTrip customers will be provided access to a next-generation mobility platform that offers clean, comfortable and connected buses for intercity travel. Recently, EaseMyTrip has also acquired Spree Hospitality and had entered into a non-binding agreement offer with Traviate Online Private Limited for the acquisition of the business.
Rikant Pittie, co-founder, EaseMyTrip said tech-enabled bus mobility is the future, and the company is expecting to witness a ‘phenomenal’ growth in the coming period.
“We would like to thank Mukul Shah, co-founder of YoloBus for spearheading this deal from inception to closure. We are thoroughly impressed by what YoloBus was set to build with Mukul’s expertise of great market understanding, operations and execution,” he said.
“YoloBus has carved a niche for itself in the mobility sector and 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,” he added.
Anand Dutta, vice president at Nexus Ventures, an early-stage investor of YoloBus said bus travel remains the dominant mode of travel in India and a huge opportunity. “YoloBus’ business expertise and technology will act as a force multiplier at EaseMyTrip giving Indians a modern and better way to travel on buses,” he added.
Founded by Mukul Shah, and Shailesh Gupta, YoloBus is a next-generation, premium intercity mobility platform and it follows an asset-light model and works with bus operators pan India. Last year, the company raised Series-A funding, at a valuation of Rs 84 crore, from investors such as Nexus Venture Partners and India Quotient. The company runs on a mobility template through which it takes care of the operational side of the business including the scheduling of buses, ticketing, customer service, and network planning. YoloBus claims to have catered to over 300,000 people across 250 plus routes.
