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News : Mumbai’s Taxi Service Bookmycab Acquires Hyderabad’s CabonClick
Nov 12, 2014 -- Mumbai’s call taxi service Bookmycab.com has acquired CabonClick.com, an online taxi booking service provider in Hyderabad and parts of Telangana for an undisclosed sum. The acquisition is part of Bookmycab’s strategy to increase footprint in the southern markets of the country after the western (Mumbai) and eastern regions (Kolkata).
On the Hyderabad foray, Avinash Gupta, CEO of Bookmycab, said, "This M&A is part of our overall strategy to roll out Bookmycab across the country in 2014-15. CabonClick.com and Bookmycab.com have complementary strengths and we are confident that consolidation is the way to grow strategically in the e-com space in India. We chose Hyderabad as the first market to enter southern India due to the fantastic response during our test phase."
The acquisition gives Bookmycab access to CarbonClick’s over 150 cabs. The company will also unveil a new app customised to Hyderabad and invest in a dedicated call centre based out of the city.
Posted by Veronica Silva Cusi, news correspondent
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Published: Friday, November 14, 2014