Atrump Games

Atrump Games
Atrump Games

MakeMyTrip & ibibo Merged with Base Valuation of $1.8Bn

In growing competition and higher operating cost, most of the travel portals are trying to reduce costs.  The consolidation started happening in Internet domain as funding dried down. Launched in 2007, ibibo owns very popular redBus also & owned by Naspers and Tencents.  Naspers owns 91% & Tencents owns 9% of ibibo. Post merger Naspers and Tencents will own 40% of combined entity whereas will own 10% of combines entity in return of $180 million, 5 year convertible  notes given to Ctrip by MMT.
The move will lead both the organization to go for realignment and that will result in loss of thousands of jobs.

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About Devendra Prasad

20 years plus industry veteran of domestic and international ICT domain with the expertise in Business, Technology, Strategy and Analysis. Specializes in forecasting impact analysis, trends and recommendations for Investments, Technology and Regulations.
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