Naspers invests $250 mn in Ibibo – Feedback

Online travel firm Ibibo Group said its parent, South African Internet and media company Naspers, would invest $250 million (Rs 1,650 crore) in the company to expand its presence in the hotel segment, focus on innovations and have more users download its app on their smartphones.

Ibibo, whose early investor is Chinese Internet firm Tencent, claims market leadership in bus booking through Redbus and hotel bookings, while being second in airline ticketing to rival MakeMyTrip. Naspers holds the majority stake in both Tencent and Ibibo. India’s online travel firms are receiving big investments as Naspers and China’s largest travel site Ctrip.com look at tapping the growing base of consumers who use smartphones to buy bus and air tickets and holidays.

http://www.business-standard.com/article/companies/naspers-invests-250-mn-in-ibibo-116022400936_1.html

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