makemytrip and goibibo merger

Karla said “MakeMyTrip is strong in the air-ticketing and branded 5-4-3 star hotel-booking space, while Goibibo is strong in the budget accommodation space. MakeMyTrip acquired rival Goibibo, and the merged entity will be valued at $1.8bn, making it the biggest merger in India’s online travel space. The entity owned by Naspers and Tencent is said to have purchased 413,035 new ordinary shares of MakeMyTrip at $21.19 per … With this merger, many big travel brands like MakeMyTrip, goibibo, redBus, Ryde and Rightstay have now come under a single entity. ibibo Group, via its brand goibibo and redBus, comes with a strong presence in various fast growing travel segments, including hotels, bus bookings and air ticketing. To continue getting transactions, MMT started doing that too. MakeMyTrip is already the largest OTA in the country and the merger will strengthen its position while toning down the cut throat competition in the business. The combination will bring together a bouquet of consumer travel brands, including MakeMyTrip, goibibo, redBus, Ryde and Rightstay, which together processed 34.1 mm transactions during FY 2016, MakeMyTrip said in a statement.“India is a key market for Naspers and this deal reinforces our commitment to the country. The other competitors in this space include Yatra, Cleartrip and Via.com, among others. Goibibo and MakeMyTrip were competitors. ibibo was especially hitting MakeMyTrip hard with pricing in the hotels category. The other competitors in this space include Yatra, Cleartrip and Via.com, among others. The all-stock deal involved South African technology group Naspers and China’s Tencent—which owned 91% and 9%, respectively, in ibibo Group—selling the firm to MakeMyTrip in exchange for a 40% stake in the combined company. In the travel space, the... Read full article » The merger is set to retain much of MakeMyTrip’s senior management with founder Deep Kalra as the Group CEO and Executive Chairman, while Rajesh Magow will remain CEO India. MakeMyTrip and ibibo had agreed to merge in October 2016, in the biggest-ever consolidation move in India’s online travel services sector.. Several Hotel and Restaurant Associations (HRA) across cities in the country have told BOOM that they are unhappy with the booking websites. MakeMyTrip is already the largest OTA in the country and the merger will strengthen its position while toning down the cut throat competition in the business. Goibibo: MakeMyTrip and GoIbibo merge MakeMyTrip and GoIbibo are merging, is what appears to be a consolidation of the two largest online travel players in India. MakeMyTrip, Ibibo to save millions from merger The merged entity will use the money to expand existing business, and build new technology and products around mobile and shared services The overlap between the two brands is barely 25 percent in terms of customers, says … The country’s biggest online travel portal, MakeMyTrip has recently acquired GoIbibo for a $2 billion deal which makes it India’s biggest acquisition in the online travel space. ibibo Group, via its brand goibibo and redBus, comes with a strong presence in various fast growing travel segments including hotels, … Ashish Kashyap, Founder and CEO of Ibibo will join MakeMyTrip’s executive team as a Co-Founder and President of MakeMyTrip. This merger will bring together the top travel brands like MakeMyTrip, goibibo, redBus, Ryde, and Rightstay under one unit. ibibo Group, via its brand goibibo and redBus, comes with a strong presence in various fast growing travel segments including hotels, bus bookings and air ticketing. • The company has issued 38.91 million Class B shares to Ibibo group. MakeMyTrip Limited and ibibo Group (owned by global technology group Naspers Limited, have agreed to pursue a transaction that will combine the two businesses under MMYT, creating one of the leading travel groups in India that provides a one-stop shop for all Indian travellers and serves as a critical partner for travel industry suppliers.. MakeMyTrip brings its strong brand, robust mix of domestic and outbound hotels and packages business and strong position in the air ticketing business. ibibo was especially hitting MakeMyTrip hard with pricing in the hotels category. MakeMyTrip brings its strong brand, robust mix of domestic and outbound hotels and packages business and strong position in the air ticketing business. ibibo Group, via its brand goibibo and redBus, comes with a strong presence in various fast growing travel segments including hotels, bus bookings and air ticketing. ... while Goibibo … The coming together of two entities invariably leads to a larger buying house that can negotiate between greater margins owing to the scale, itself. The merger creates one of the leading travel groups in India bringing together a collection of leading consumer travel brands, including MakeMyTrip, goibibo, redBus, Ryde and Rightstay, which together processed 34.1 million transactions during fiscal year 2016. FTW. The merger will bring together a bouquet of leading consumer travel brands, including MakeMyTrip, goibibo, redBus, Ryde and Rightstay, which together processed 34.1 million transactions during February, 2016. The announcement of an all-stock merger between travel portal MakeMyTrip, and its rival, the Ibibo Group, on October 18 signalled the birth of an online travel giant. MakeMyTrip and GoIbibo to start targeting different consumer segments. The merged entity will include the MakeMyTrip, goibibo, redBus, Ryde and Rightstay brands. These entities combined processed 34.1 million transactions during the fiscal year 2016. “Today’s announcement is a significant step forward for the rapidly growing travel industry in India. ... including MakeMyTrip, goibibo, redBus, Ryde and Rightstay. (MakeMyTrip and Goibibo had announced a merger in October 2016). MakeMyTrip brings its strong brand, robust mix of domestic and outbound hotels and packages business and strong position in the air ticketing business. MakeMyTrip and Ibibo announced merger last year in October CCI has approved the acquisition of Ibibo group by MakeMyTrip This will bring redBus, goibibo, Ryde under MakeMyTrip's group @makemytrip and @goibibo merger. — gopinath BANDARI (@themidnightrage) October 18, 2016. MakeMyTrip brings its strong brand, robust mix of domestic and outbound hotels and packages business and strong position in the air ticketing business. The deal will add popular online ticketing websites such as, goibibo.com and redbus.com, to MakeMyTrip’s portfolio, which owns the flagship brand and the alternate accommodation site Rightstay. All other Hotels and flights businesses can chill now. ibibo and MakeMyTrip have built leading companies … In 2015, Expedia and Orbitz merged their business in a $1.6 billion deal. CCI clears MakeMyTrip, ibibo Group merger, New Delhi: The Competition Commission of India (CCI) has approved… The deal will bring all brands of the Ibibo Group such as Goibibo, redBus, Ryde and Rightstay under MakeMyTrip. What will be the ripple effects of this merger on the travel and hotel and accommodation industry? However, the Nasper-backed MakeMyTrip and Goibibo merger took everyone by surprise. India’s largest online travel company, MakeMyTrip, has announced the acquisition of Ibibo, a rival online travel company, for $720 million in stocks. Goibibo’s strategy to acquire transactions was discounting. Deep Kalra, who founded MakeMyTrip in 2000 together with Rajesh Magow, said all the entities including MakeMyTrip, redBus and Goibibo — … GoIbibo & MakeMyTrip Merger: Why I Am Not Happy As A Consumer While consolidation is good for investors and entrepreneurs, it reduces competition. India Inc’s merger and acquisition deal tally hits $32bn MakeMyTrip, ibibo to merge, creating one-stop travel shop. The merger has taken place after three months of the initial announcement. MakeMyTrip Limited (NASDAQ:MMYT) announced that it has completed its merger of the ibibo Group. MakeMyTrip and ibibo together processed 34.1 million transactions in fiscal 2016, the companies said in a statement. MakeMyTrip and GoIbibo are merging, is what appears to be a consolidation of the two largest online travel players in India. Together, … However, MMT had a better hold on the market. • MakeMyTrip will own 100 percent of Ibibo Group. The combined strength of MakeMyTrip, goibibo, redBus, Ryde, and Rightstay is formidable. But there could be more trouble ahead. Position in the country have told BOOM that they are unhappy with the booking websites 2016, the. Hold on the market ) October 18, 2016 gopinath BANDARI ( @ themidnightrage ) October 18 2016. 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