Carpooling platform BlaBlaCar, the platform that connects long-distance drivers with empty seats and passengers to share travel costs has confirmed it is acquiring Russia and Ukraine-based leading bus ticketing platform Busfor. The financing details of the deal have not been revealed by both the involved parties.
Busfor was launched by Artem Altukhov and Ilya Ekushevskiy in 2012. The company had attracted $32.5 million in funding since its inception. The firm had picked its Series C round in February earlier in the year when Vostok New Ventures led the round. The others who have infused sum in the firm include Elbrus Capital, Baring Vostok Capital Partners, Chernovetskyi Investment Group, Inventure Partners, FinSight Ventures and Intel Capital.
Paris-based BlaBlaCar had recently raised French firm Ouibus. The company was launched in 2006 by Francis Nappez, Frédéric Mazzella, and Nicolas Brusson. It had attracted capital worth $448.5 million since its inception. The backers of the firm include the names like SNCF, Baring Vostok Capital Partners, Accel, Lead Edge Capital, Index Ventures, Grape Arbor VC, Insight Partners, blisce/ and others.
Nicolas Brusson, the CEO of BlaBlaCar, speaking to TechCrunch said, “This is the biggest acquisition in BlaBlaCar’s history and Busfor is the region’s leading bus distribution company, with over 150 employees. Connecting our significant online demand with Busfor’s supply will help travelers and bus operators alike, so we’re incredibly excited to be joining forces.”
The 150 employees' strong team of Busfor will join BlaBlaCar as part of the deal. Busfor runs nearly 7,000 bus carriers.
Image Courtesy : ukrhaber