ibibo Group to receive $250 million investment from Naspers


Online travel services provider ibibo Group today said Internet and media firm Naspers, the principal share owner in the company, will invest another USD 250 million (around Rs 1,715 crore) in the group.

The investment will be focused on extending ibibo’s presence in the Indian hotels category and on additional technology innovations, ibibo Group and Naspers said in a joint statement.

Commenting on the development, ibibo Group Founder & CEO Ashish Kashyap said: “The commitment from both Naspers and Tencent to ibibo is testimony to the strength of our platforms and the opportunities ahead”.

The company’s objective is to solve problems for the transportation and accommodation providers and to connect them to the travellers, he added.

“The Indian e-commerce market, and the online travel segment in particular, offers exciting growth prospects for us as a group,” Naspers Group CEO Bob van Dijk said.

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, he added.

The ibibo group owns integrated online travel properties such as Goibibo.com and online bus ticketing platform redBus.in.

Both South Africa-based Naspers and China-based Tencent are current investors in the ibibo Group.

(adsbygoogle = window.adsbygoogle || []).push({});
Set your categories menu in Header builder -> Mobile -> Mobile menu element -> Show/Hide -> Choose menu
We use cookies to make Bizztor’s website a better place. Cookies help to provide a more personalized experience and relevant advertising for you, and web analytics for us. To learn more about the different cookies we're using, check out our Cookie Policy.

Top Stories In Your Inbox

Get Our Latest updates and startup Guides in Inbox every Week. Subscribe to our weekly Newsletter Now,

Free SEO Audit for your website

Please share the information below to get a free SEO Audit for your website.