Your browser is currently blocking notification.
Please follow this instruction to subscribe:
X
Notifications are already enabled.
X

Naspers To Infuse $250 Mn In Ibibo Group

Naspers To Infuse $250 Mn In Ibibo Group

Online travel venture Ibibo Group will raise $250 Mn from global internet & media company Naspers, and China’s leading internet firm Tencent.

The investment will be focused will help Ibibo to expand its reach within the Indian hospitality sector, and on additional technology innovations.

Ashish Kashyap, founder & CEO at Ibibo Group, said, “Our objective is to solve problems for the transportation and accommodation providers and to connect them to the travellers.”

Ibibo processed more than 6.5 Mn transactions for the period of October to December (Q3) 2015. It generates more than 2.5x the transaction volumes of its nearest competitor. The group owns integrated online travel properties such as Goibibo.com and redBus.in.

In a report by Morgan Stanley, Goibibo was rated as number 1 by hoteliers, across a number of parameters including booking volumes, confirmed bookings, last minute bookings, backend & IT support, as well as insights and market intelligence.

Goibibo hotel bookings surpassed 1.6 Mn room nights during Q3, up 400% Y-O-Y. Mobile contributed to 71% of the bookings in the month of December 2015, up from 42% a year ago.


Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.


Author

Vishal Singh

Inc42 Staff

For Vishal Singh, football is oxygen, traveling is living, night is day, online gaming is serious sport and superheroes are real. Yes, real. And like the call sign of any superhero, one can always find him enrapt to his laptop screen. His passion lies in writing pieces that would get the brain engines of readers churning and aspires to one day be known by his opus.

Responses
https://inc42.com/flash-feed/appilyever-seed-funding/
Loading Next…

Upcoming Events

  • Morning Pitch

    Organiser - Deloitte Jap…
    10 AM to 12 PM
    New Delhi, Delhi