Ctrip mulling investment in India’s food tourism platform Zomato
China travel giant Ctrip is reportedly ready to splash the cash again.
It will apparently invest about $100 million in India online food delivery and restaurant platform Zomato.
Ctrip’s $100 million will form just part of a possible $400 million funding round for Zomato.
According to media reports the funding round will close within the next two weeks.
"The discussions with Ctrip are in the last leg, with only the final amount yet to be decided. It is likely to be around $100 million. While the investment is purely financial, the two companies may explore synergies, which will be more strategic in nature going forward," according to a source cited by Times of India.
Ctrip also has a sizeable stake in India’s largest online travel agency MakeMyTrip, and acquired Skyscanner for $1.7 billion a couple of years ago.
Zomato itself recently made another acquisition with the purchase of Bengaluru-based startup TongueStun Food.
Zomato lists information and reviews on more than 1.4 million restaurants in 23 countries.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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