MakeMyTrip mulling stake in travel site HolidayIQ

Tuesday, 17 Jun, 2015 0

Indian online travel giant MakeMyTrip Ltd plans to make a sizeable investment in travel portal HolidayIQ.com.

Media reports quoting an unnamed source said MakeMyTrip will invest $30 million in Bengaluru based Leisure and Lifestyle Information Services Pvt. Ltd, parent company of HolidayIQ.

"The investment is expected in a month’s time," said a source familiar with the talks.

The Nasdaq-listed online travel agency, which is valued at almost $800 million, recently set up a $15 million innovation fund for acquisitions of travel start-ups.

"The fund is focused on young and new ventures in the travel technology space. We want to encourage entrepreneurs building niche companies in this domain," said Rajesh Magow, co-founder and India CEO at MakeMyTrip.

Two months ago it took over travel planning site MyGola.com, following the purchase of a 25% stake in hotel marketing firm Simplotel.



 

profileimage

TravelMole Editorial Team

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.



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...