Taxi Aggregator Carzonrent Acquires Ridingo, to Venture in Ride-Sharing

image source: hudikchinga

image source: hudikchinga

New Delhi- based Taxi aggregator Carzonrent has bought Ridingo, a taxi sharing service.With this acquisition, Carzonrent is getting into the ride share business, which it expects to be 75% of its total business in the next five years.

Regarding the purchase, Rajiv K Vij, MD & CEO, Carzonrent, said: “The biggest opportunity in personal ground transportation in coming years, will be in building a shared ecosystem— help car owners to use their assets with others. Ridingo helps us get there.” However, the financial details of the deal have not been disclosed by either parties.

Ridingo is a Bangalore- based startup founded in 2013 by former data scientist of HP R&D Labs S Mohan, and an ex employee of analytics startup Marketilligent, Vardhan Koshal. It has about 8,500 registered users in Bengaluru and enables an average of 400 trips per day as reported by ET.