The acquisition will add a new revenue stream and fast track EaseMyTrip’s rapid growth in the non-air segment.
EaseMyTrip, India’s second-largest online travel platform, has announced acquiring the brand name, technology, its team, running business and data expertise of ‘YoloBus’, a next-generation premium intercity mobility platform. The acquisition will add a new revenue stream and fast track EaseMyTrip’s rapid growth in the non-air segment.
EaseMyTrip will leverage YoloBus’ full-stack technology-enabled platform to offer an enhanced and superior bus travel experience at delightful prices. EaseMyTrip patrons will be provided access to a next-generation mobility platform that offers safe, clean, comfortable and connected buses for seamless intercity travel. Recently, EaseMyTrip has also acquired Spree Hospitality and entered into a non-binding agreement offer with Traviate Online Private Limited for the acquisition of the business.
Speaking on the announcement, Rikant Pittie, Co-Founder, EaseMyTrip said, “Tech-enabled bus mobility is the future, and we are 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 & execution. 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.”
According to Anand Lunia, General Partner, India Quotient, an early-stage investor of YoloBus, “Bus travel is the fastest growing mode of travel, with huge opportunities. We are glad that YoloBus finds a home in EaseMyTrip and will continue to grow.”
Commenting on the announcement, Anand Dutta, Vice President, Nexus Ventures, an early-stage investor of YoloBus, “Bus travel remains the dominant mode of travel in India and a huge opportunity. YoloBus’ business expertise & technology will act as a force multiplier at EaseMyTrip giving Indians a modern and better way to travel on buses.”
Founded by Mukul Shah, and Shailesh Gupta, YoloBus is a next-generation, premium intercity mobility platform that offers the best amenities, backed by technology, to make bus commute comfortable, safe, reliable and affordable. YoloBus follows an asset-light model and works with bus operators pan India. By providing unique services, luxury coaches, pleasing designs, a smart fleet, and tech-friendly operations, YoloBus aims to revolutionise intercity bus transport across India and redefine the way new-age India travels. Last year, YoloBus had successfully raised Series-A funding, at a valuation of Rs. 84 crore, from marquee investors like Nexus Venture Partners & 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 has helped over 300,000 people reach their destinations across 250 plus routes and connected major tier-1 cities to tier 2 & 3 cities.
Source: Business World