Yatra.com, Gurgaon based travel portal has announced to acquire MGaadi, another Indian startup based out of Bangalore, which aggregates auto-rickshaw across Bangalore. The financial details of the deal were undisclosed as of now.
MGaadi was started in 2012 by Solomon JP and Vishy Kuruganti. It is a service provided by India Drivers Network, Bangalore based social organisation which has made a mobile based network of drivers in various location. The drivers mostly include the auto drivers.
MGaadi allows the users to access its network via mobile apps as well the web portal. As of today, it has over 13,000 drivers on the network and plans to double the count by the end of this year.
Speaking on the development, Vishy Kuruganti, Co-Founder Mgaadi stated that there have been a series of meeting with the high profile officials of Yatra in the recent times. After seeing a positive growth option in working with Yatra, the team has decided to go ahead with the deal. The final agreement was signed on June 10th, 2016.
Post acquisition, the team at Mgaadi will join Yatra and the technologies will also be implemented in Yatra’s platform in the coming times.
Prior to this, Yatra acqui-hired another startup named as Travel-Logs in January this year. Also, there have been rumors that Paytm has been in talks with Yatra lately to pick up a stake and high level meeting are already underway.