#Asia Indian online travel group ibibo raises US$250M from Naspers

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The group owns various travel-related properties, including Goibibo.com, redBus.in, YourBus, Travelboutique, Ryde, and GoStays

Travel

Travel

Leading Indian online travel company ibibo Group has announced it has received US$250 million in investment from its parent, South African Internet & media giant Naspers.

ibibo is backed by Naspers and Chinese Internet firm Tencent.

The investment will be used for growth in the Indian market, as well as for additional technology innovations.

“Our objective is to solve problems for the transportation and accommodation providers and to connect them to the travellers. The commitment from both Naspers and Tencent to ibibo is testimony to the strength of our platforms and the opportunities ahead,” said Founder & CEO Ashish Kashyap.

Ashish Kashyap, CEO, Ibibo Group

Ashish Kashyap, CEO, Ibibo Group

ibibo is an online travel group with integrated travel properties such as Goibibo.com (hotels and air aggregator), redBus.in (bus ticketing platform), YourBus (vehicle tracking application) and Travelboutique (B2B online travel platform).

ibibo also recently launched inter-city car sharing app Ryde, and budget accommodation platform GoStays.

The group claims to have processed more than 6.5 million transactions for the period between October and December (Q3) 2015.

“The Indian e-commerce market, and the online travel segment in particular, offers exciting growth prospects for us as a group. With a talented, proven management team and exceptional technology, ibibo is well positioned to benefit from an increasing number of people using online travel services going forward,” said Naspers Group CEO, Bob van Dijk.

Image Credit: Shutterstock

The post Indian online travel group ibibo raises US$250M from Naspers appeared first on e27.

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