Has Rapido seen the writing on the wall?
The bike taxi aggregator is exploring a sale, even as it hunts for fresh funding, given the state shared mobility is in and the flagging of investor interest.
Why read this story?
Editor's note: From the outside, the company seems healthy. In what has been a horrible year for mobility, Rapido has closed its Series C funding this year—netting about $50 million in August. The latest round of funding valued the company at about $235 million. After Ola, Rapido has raised the most funds this year in mobility, according to data from Venture Intelligence. Surprisingly, Rapido has been considering a sale and is in talks with at least one company for a possible buyout, according to two people aware of the details, who asked not to be identified. Meanwhile, it has also been trying to raise a bigger funding round too. Whichever happens first. The company does not seem to be in a rush to sell, but it faces a knotty problem. One, this would be the third sale of a mobility startup we are hearing about in the past six months. Bus company Shuttl was forced to shut down and was eventually sold to Chalo, which has a public transport app. Scooter rental company Vogo is also in the market and in talks …
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