- Over A Year After Merging With Ibibo, MakeMyTrip Losses Continue, Reaching $45.3 Mn In Q3 FY18 Online travel portal MakeMyTrip has announced its unaudited financial and operating results for the quarter ending on December 31, 2017. As per its earnings report, the company’s overall revenue increased to $172.5 Mn, up by 36% YoY from $123.2 Mn clocked in the corresponding period of the previous fiscal year. Due to increased expenses following […]
- Paytm To Hit $14 Bn GMV During The Current Fiscal: Vijay Shekhar Sharma Paytm is aiming to achieve $14 Bn GMV during the ongoing fiscal year. The digital payment company founder Vijay Shekhar Sharma, also revealed that Paytm made 255 Mn transactions last month, while speaking at an event. In November 2017, Paytm claimed that it was witnessing 7 Mn transactions worth $18.78 Mn (INR 120 Cr) a day, this also […]
- Online Travel Portal MakeMyTrip Posts Net Loss Of $62.3 Mn For Q2 2017-18 On Account Of Increasing Expenses Online travel firm MakeMyTrip posted net losses of $62.3 Mn for the quarter ended September 30, 2017. The online travel company had posted a net loss of $39.5 Mn for the corresponding period of the previous financial year. However the company’s revenue stood at $152.9 Mn for Q2 2017-18, up almost 84% from the $83.1 […]
- Niti Aayog Invites Applications For Mentor India To Guide Atal Tinkering Labs Setup Under Atal Innovation Mission Niti Aayog is inviting applications for Mentor India also known as the Mentor of Change initiative. It is a strategic nation-building initiative to engage leaders who can guide and mentor students in 900+ Atal Tinkering Labs under the Atal Innovation Mission. Currently, the mentors that are working with Startup India include Paytm co-founder Vijay Shekhar […]
- Ibibo Group Founder And MakeMyTrip President Ashish Kashyap Resigns Ibibo group CEO and co-founder Ashish Kashyap has resigned from his position as President of MakeMyTrip Ltd. The Gurugram-based online travel company’s Group CEO Deep Kalra has accepted his resignation, which will come into effect from September 30, 2017. The resignation comes just a few months after the completion of the MakeMyTrip-Ibibo merger deal. Ibibo […]
- Movers And Shakers Of The Week [22 May – 27 May] These are the movers and shakers for the week. Japanese investment firm SoftBank Group has elected Rajeev Misra, CEO, SoftBank Investment Advisors to be included in the next-formed Board of Members. Misra is currently heading $100 Bn tech-focussed Vision Fund that SoftBank launched in January 2017 that made a first close with $93 Bn last […]
- Rajan Anandan Takes Over As New IAMAI Chairman; Deep Kalra Becomes Vice Chairman Rajan Anandan, Vice President, Southeast Asia and India, Google, has become the new Chairman of the Internet and Mobile Association of India (IAMAI). He took over from Kunal Shah, co-founder and CEO of Freecharge. The Vice Chairman of IAMAI, Vinod Bhat has been replaced by Deep Kalra, Chairman and Group CEO of MakeMyTrip. The MD […]
- 40+ Entrepreneurs Share Their Journey On The L&D Module By Startup India Earlier this year in January, at the one-year completion of Startup India’s anniversary, the government continued its commitment to helping startup entrepreneurs by launching an educational initiative – the Learning & Development Module. The interactive online learning and development module aims to educate startups and aspiring entrepreneurs, through various stages of their entrepreneurial journey. As […]
- MakeMyTrip To Raise $330 Mn From Naspers, Ctrip, Other Investors Travel portal MakeMyTrip (MMT) is reportedly looking to raise $330 Mn from South African Internet and media conglomerate Naspers and Ctrip as well as other investors. The investment will be raised via share sale as per recent SEC filings of the company. Yesterday, the company announced that it has entered into definitive share purchase agreements […]
- SAIF Partners Pulls Off 16x Return – Exits MakeMyTrip At $400 Mn Every VC firm in the world longs to make a profit from the investments it makes in companies – the faith that it places in unknown ventures. The best possible scenario for VC investors is when the company it has backed debuts an IPO or, makes enough money that the investor can make an exit. […]
- MakeMyTrip And Ibibo Complete Merger To Capture Larger Pie Of India’s Traveltech Market MakeMyTrip has completed the merger of its Indian travel business with Naspers-owned Ibibo group, which was announced last October. Towards this, the Ibibo Group parent has contributed around $82.8 Mn cash to MakeMyTrip. The deal which marked the coming together of two of India’s largest travel booking portals received the approval of Competition Commission of […]
- The Journey Is Bigger Than One Season: Uber’s Travis Kalanick On Being An Intrepid Entrepreneur In the opening key note at the first TiE Global Summit in Delhi, Travis Kalanick, co-founder of Uber took the audience through his journey as a student and an entrepreneur, and delivered an optimistic view of the Indian entrepreneurial ecosystem. In a year that has been heralded as the burst of the so-called funding bubble, […]