MakeMyTrip mulling stake in travel site HolidayIQ
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.
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.
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Strike action set to cause travel chaos at Brussels airports