Chinese investors have developed an affinity for India’s online travel agencies (OTA). Ecommerce SaaS Startup OnlineSales.ai Raises Pre-Series B Round To Double Down O... Where Does India Stand In The Global Mobile Gaming Landscape? Cleartrip is a global online travel company, headquartered in Mumbai and Dubai. “We will leverage this investment to benefit from the tremendous growth potential in travel and tourism between our two countries,” said Deep Kalra, chairman and group CEO of MakeMyTrip. It operates websites in about 40 languages and 200 countries. As of 31 March 2018, they have 14 company-owned travel stores in 14 cities, over 30 franchisee-owned travel stores in 28 cities, and counters in four major airports in India. Yatra.com is an Indian online travel agency and travel search engine. Find fun activities & popular tourist attractions to visit on MakeMyTrip. Chinese OTA Ctrip, which invested $180 million into MakeMyTrip in January 2016, will own around 10% stake in the entity following the merger, after its convertible debentures are converted. The company was rebranded Trip.com in November, 2016 and acquired by the Ctrip Group in 2017. It had also received approval from the Reserve Bank of India (RBI) to, operate its own non-bank financial company (NBFC). Trip.com is an international online travel agency. Its headquarters are in Needham, Massachusetts. The site is available in over 30 languages and is used by 100 million people per month. Sneha 29 April, 2020 at 1:02 pm. The company also informed that the deal is expected to close in the second half of 2019. In 2016, Chinese travel booking giant “Ctrip” had agreed to invest 180 Million Dollars on MakeMyTrip. Prior to this, Naspers had sold its 12% stake in Flipkart to US-based retailer Walmart for $2.2 Bn. India has been a big part of Naspers’ strategy. They are Corona Companies and are working for new age Chinese colonialism. Headquartered in Gurugram, Haryana, the company has a user base of over 170 million travellers. redBus is an Indian online bus ticketing platform providing ticket booking facility through its website, iOS and Android mobile apps. Also read: Chinese travel services provider Ctrip to acquire Naspers’ entire stake in MakeMyTrip On the acquisition, Deep Kalra, Founder and Group CEO, MakeMyTrip Limited said, reported that Naspers along with Sequoia and Venture Highway. HolidayIQ.com is an online travel community and information portal powered by user-generated content. In 2018, the company achieved a GMV of ₹50 billion, with a 70% share in the Indian online bus ticketing segment. MUMBAI: MakeMyTrip on Wednesday said it has partnered with Meru to provide services of sanitised cabs at all major airports. ", "MakeMyTrip, Hyderabad Metro launch QR-code based e-tickets for easy mobility", "MakeMyTrip deploys AI to make bookings easier", "MakeMyTrip Ties Up with Visa- About MakeMyTrip", "Lowest price guarantee on Bus ticket-booking on MakeMyTrip.com", "Jet Airways, Makemytrip sweep inaugural Times Travel Honours", "Retailers eye tier II & tier III cities in 2013", "Celebrating Excellence in Asia's Low Cost Aviation and Travel Industry", "Social Media & Mobile in Travel Asia 201327-28th November 2013, Langham, Hong Kong", "MakeMyTrip.com awarded the best Travel & Tourism company in India", "Lonely Planet Magazine India launches first-ever Travel Awards on 3rd May", Booking flights, hotels, holidays, buses, trains and cars, Le Travenues Technology Private Limited which owns Ixigo.com, Best Service Provider Company (tour operators category), Most Preferred Travel and Holiday Website, IMINT Shoppers and Consumer Insights Awards, Travel Distribution World Asia Awards (Budgie & Travel Awards), Porter Prize (named after Michael E Porter), Best Mobile Strategy and Best Mobile Solution, Outlook Traveller Reader's Choice Travel Awards. Apr 30, 2019 06:51 PM IST Rajesh Magow is the Co-Founder & Group Chief Executive Officer of MakeMyTrip Limited, the holding company of India’s leading travel brands MakeMyTrip, Goibibo and redBus. Your browser is currently blocking notification. It also offers online hotel reservations and bookings for transportation, lodging, travel experiences, and restaurants. Dream11 Sets The Revenue Pace In India’s Fantasy Sports Gaming Market, [The Outline By Inc42 Plus] The Social Dilemma, 500+ Attendees, 8 Sessions: Here’s A Lookback At Inc42’s D2C Day 2.0. This could set the alarm bells ringing elsewhere. New Delhi, Apr 26 South African internet firm Naspers will exit online travel company MakeMyTrip by selling its entire shareholding to Chinese travel major Ctrip.com International. In January 2016, the Chinese travel booking company Ctrip agreed to invest $180 million to MakeMyTrip [8]. In September 2018, during a three-day summit in New Delhi, Naspers CEO Bob van Dijk said that the company will continue to. In November 2015, MakeMyTrip launched a new offering named as “Value+” for the quality budget hotels category. Along with the share exchange, Ctrip will invest certain ordinary shares and class B shares of MakeMyTrip in a third-party investment entity. MakeMyTrip has offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai. It provides booking services for flights, hotels, and buses; and holiday packages and travel guides. Discover and book amazing travel experiences with MakeMyTrip! Currently, it is also subject to customary closing conditions, including the requisite regulatory approvals. This development comes at a time when the Nasdaq-listed company. car and bike-pooling startup Quick Ride’s Series B funding round. The company is a subsidiary of MakeMyTrip (MMT) Limited, which owns a 100% stake in Ibibo Group. BENGALURU: Chinese travel giant Ctrip is increasing stake in India’s largest online travel portal MakeMyTrip to about 49% from 10% through a share-swap deal in the largest transaction in the space in the country. Momondo also operates a travel information blog, Inspiration. While Ctrip has a market capitalisation of more than $24 billion, MakeMyTrip is about a tenth of the Chinese company’s size on this metric but remains the market leader in India. In 2012, MakeMyTrip launched travel mobile applications for Windows Phone, iPhone, Android, and Blackberry devices. It is based in Gurugram, Haryana. It is owned and operated by and is the primary revenue source of United States-based Booking Holdings and is headquartered in Amsterdam. MakeMyTrip also made three acquisitions—Luxury Tours and Travel Private Limited (Singapore), ITC Group Hotel Travel Group, and ETB Group—to enter new markets in. Headquartered in New Delhi, the company provides hotel bookings, air tickets, holiday packages, bus bookings, and black-label services. Ctrip will acquire the 42% stake that is held by South African media giant Naspers, the largest shareholder in MakeMyTrip. The company lets people research and book travel options for their trips, including flights, hotels and car hire. MakeMyTrip will be leasing out a part of the entire property for the duration of the holiday to minimize any outside interaction for the bubble holiday travellers. Deep Kalra is an Indian businessman who is the founder and group CEO of MakeMyTrip, an Indian online travel company. Travelocity.com is an online travel agency owned by Expedia Group. Nope , this is putting good money behind bad. Naspers and Tencent, who jointly owned Ibibo Group, became the single largest shareholder in MakeMyTrip. MakeMyTrip is an Indian online travel company founded in 2000. It is a repository of travel information that connects travellers to each other and to hoteliers, tour operators and online travel agents. The South-Africa-based company’s payments arm, PayU, gets more than half of its overall business from PayU India. As of March 31, 2018, the company has 14 company-owned travel stores in 14 cities, including one in their office in Gurugram, over 30 franchisee-owned travel stores which primarily sell packages in approximately 28 cities, and counters in four major airports in India under their brand. Sinclairs Hotels Ltd. owns and operates hotels and resorts in India at Siliguri, Burdwan, Darjeeling, Dooars, Kalimpong, Ooty and Andamans. 2016 - January: In January 2016, the Chinese travel booking company Ctrip agreed to invest $180 million to MakeMyTrip. in Flipkart to US-based retailer Walmart for $2.2 Bn. On April 26, China’s CTrip bought a 42.5% stake in India’s … The news of investment has pushed the stock prices of MakeMyTrip northwards with a... Read more » 2005 - September: MakeMyTrip started Indian operations in September 2005, offering online flight tickets to Indian travellers. 10,000 people are expected to get together for a peaceful protest . EaseMyTrip has overseas offices in Singapore, Dubai, Maldives, and Bangkok. Cox & Kings Ltd., set up in 1758, is one of the longest established travel companies. Jeep Compass facelift previewed ahead of Chinese debut. The first 2 were ok, though I was lucky to download them to my computer because they were never sent to my email, as it is expected. Most recently, Inc42 reported that Naspers along with Sequoia and Venture Highway invested in Bengaluru-based car and bike-pooling startup Quick Ride’s Series B funding round. toggle menu Search. Gogobot was an online travel business headquartered in Palo Alto, California. $124.8 Mn for the third quarter of the FY2018-19. 2016 - January: In January 2016, the Chinese travel booking company. Trip.com Group Limited provides travel services including accommodation reservation, transportation ticketing, packaged tours and corporate travel management. India’s MakeMyTrip makes the newly traded Chinese tech stocks look bad. The fleet of China Southern Airlines consists of 3 Airbus A300-600, 41 Airbus A319-100, 66 Airbus A320-200, 57 Airbus A321-200, 11 Airbus A330-200, 8 Airbus A330-300, 5 ATR 72-500, 25 Boeing 737-300, 31 Boeing 737-700, 50 Boeing 737-800, 17 Boeing 757-200, 4 Boeing 777-200, 6 Boeing 777-200ER, 6 Embraer ERJ-145, and 10 McDonnell Douglas MD-90 aircrafts.Check Out China Southern Airlines … MakeMyTrip said that Naspers will exchange its entire shareholding in the company for newly issued shares of Ctrip while the later will acquire Naspers’ current shareholding in MMT. [22], MakeMyTrip offers flight tickets, villas and apartments, rail and bus tickets, cab service, and hotel booking services on its portal. Indian Startups, Entrepreneurship, News, Resources & More, The deal is expected to close in the second half of 2019, Following the deal, Naspers will own 5.6% of Ctrip’s outstanding ordinary shares, Ctrip will control Naspers’ entire stake in MakeMyTrip. Decoding The Revenue Models In Indian Mobile Gaming Market. This development comes at a time when the Nasdaq-listed company recorded total revenue of $124.8 Mn for the third quarter of the FY2018-19. ixigo is an Indian AI-based travel e-commerce website founded in 2007. [1] Headquartered in Gurugram, Haryana, the company provides online travel services including flight tickets, domestic and international holiday packages, hotel reservations, rail, and bus tickets. Booking Holdings Inc. is an American company organized in Delaware and based in Norwalk, Connecticut, that owns and operates several travel fare aggregators and travel fare metasearch engines including namesake and flagship Booking.com, Priceline.com, Agoda.com, Kayak.com, Cheapflights, Rentalcars.com, Momondo, and OpenTable. EaseMyTrip is an Indian online travel company founded by Nishant Pitti. Founded in 1999, the company owns and operates Trip.com, Skyscanner, Qunar, and Ctrip, all of which are online travel agencies. MakeMyTrip (India) Pvt., Ltd. operates as an online travel company in India. The South-Africa-based company’s payments arm, PayU, gets more than half of its overall business from PayU India. “The agreement we have announced today is a significant step in the growth ambitions of both MakeMyTrip and Ctrip and we believe continuing to support them as a shareholder will create additional value for Naspers and our shareholders,” said Bob van Dijk, Naspers CEO. It had also received approval from the Reserve Bank of India (RBI) to operate its own non-bank financial company (NBFC), which is subject to certain pending RBI compliance. MakeMyTrip-Ibibo merger reflects growing Chinese influence in India's online space MakeMyTrip, on Tuesday, reached an agreement to buy rival Ibibo Group By Harichandan Arakali, Forbes India Staff Former Google Chief Calls For Indo-US Alliance On AI To Solve Geopolitical Stand... India May Soon Get Digital Voter IDs To Ease Accessibility Of Electoral Services... Clovia Looks To Expand Into New Categories With Funding From Golden Bi... After Criticism Of Foreign Investors, Sanjeev Bikhchandani’s Info Edge... Can Indian Farmers Afford Satellite Data, IoT Devices Needed For Preci... Will DeHaat’s Full-Stack Model Overcome The Challenge Of Low Margins I... Inc42 Shots | Indian Govt To Launch Massive Wi-Fi Networks, Inc42 Shots | OYO Lays Off Close To 300 Employees. 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