×

iFour Logo

MakeMyTrip and Goibibo Merger

iFour Team - October 19, 2016

Listening is fun too.

Straighten your back and cherish with coffee - PLAY !

  • play
  • pause
  • pause
Makemytrip and Goibibo Merger

India is seen as next big internet market owing to digital revolution, economic growth and potential market strength. MakeMyTrip and Goibibo join hands to become a market leader in travel industry of Indian online travel segment. (IndiaTimes, 2016) views this as a potential move to grab Indian market and tighten its grip over the market that MakeMyTrip already enjoys 35% stake.

About MakeMyTrip


MakeMyTrip is a travel company operating through online booking portal –http://www.makemytrip.com. It was founded in 2000 by Deep Kalra. It is an Indian company with headquarter in Gurgaon, Haryana.

About Ibibo Group


Ibibo group is an online travel company founded by Ashish Kashyap in 2007.(Livemint, 2016) states that the company is a subsidiary of Nasper. Nasper has 91% stake and TenCent has 9% stake in the Ibibo Group. Company operates through following brands.

 
  • Goibibo - Hotels and Air ticketing portal
  • redBus – Bus booking website portal
  • Ryde
  • Rightstay

About Merger


  • Ibibo (currently owned by Nasper) will be merged into MakeMyTrip
  • Merger is through stock transaction
  • (Medianama, 2016), Nasper-TenCent combine will become largest shareholder in new entity with 40% stake
  • (Medianama, 2016), Chinese OTA Ctrip, will have around 10% stake in new entity
  • (IndiaTimes, 2016) estimates the merger through sources at about $1.8-$2.0 billion
  • Morgan Stanley – financial advisor of MakeMyTrip
  • Goldman Sachs – financial advisor of Ibibo Group
  • All brands of Ibibo group like Goibibo, redBus, Ryde and Rightstay would come under MakeMyTrip (new entity)

Statistics


Business Share in Travel Industry

Mobile App Download Chart

MakeMyTrip and Goibibo Merger Mobile App Download Review

 

 

New organization Structure


MakeMyTrip and Goibibo Merger Organization Structure

Figure 2 New Organization Structure

Looking to Hire Mobile App Development Company ? Contact Now

   
  • Deep Kalra, Founder of MakeMyTrip – Group CEO and Executive Chairman, MakeMyTrip
  • Rajesh Magow, Co-founder of MakeMyTrip – CEO India, MakeMyTrip
  • Ashish Kashyap, Founder and CEO of ibibo Group – Co-founder and Presidnet of the organization (MakeMyTrip Executive team)

 

Bibliography


IndiaTimes. (2016, 10 19). EconomicTimes. Retrieved from EconomicTimes: http://economictimes.indiatimes.com/small-biz/startups/online-travel-portals-makemytrip-and-ibibo-announce-merger/articleshow/54921415.cms

Livemint. (2016, 10 19). Livemint. Retrieved from Livemint: http://www.livemint.com/Companies/W9atx25k79RpQcdbRxWuTP/MakeMyTrip-to-buy-rival-ibibo-Group.html

Medianama. (2016, 10 19). Medianama. Retrieved from Medianama: http://www.medianama.com/2016/10/223-makemytrip-ibibo/

MakeMyTrip and Goibibo Merger India is seen as next big internet market owing to digital revolution, economic growth and potential market strength. MakeMyTrip and Goibibo join hands to become a market leader in travel industry of Indian online travel segment. (IndiaTimes, 2016) views this as a potential move to grab Indian market and tighten its grip over the market that MakeMyTrip already enjoys 35% stake. About MakeMyTrip MakeMyTrip is a travel company operating through online booking portal –http://www.makemytrip.com. It was founded in 2000 by Deep Kalra. It is an Indian company with headquarter in Gurgaon, Haryana. About Ibibo Group Ibibo group is an online travel company founded by Ashish Kashyap in 2007.(Livemint, 2016) states that the company is a subsidiary of Nasper. Nasper has 91% stake and TenCent has 9% stake in the Ibibo Group. Company operates through following brands.   Goibibo - Hotels and Air ticketing portal redBus – Bus booking website portal Ryde Rightstay Read More: Challenges Faced In Merger And Acquisition For Information System Like ERP About Merger Ibibo (currently owned by Nasper) will be merged into MakeMyTrip Merger is through stock transaction (Medianama, 2016), Nasper-TenCent combine will become largest shareholder in new entity with 40% stake (Medianama, 2016), Chinese OTA Ctrip, will have around 10% stake in new entity (IndiaTimes, 2016) estimates the merger through sources at about $1.8-$2.0 billion Morgan Stanley – financial advisor of MakeMyTrip Goldman Sachs – financial advisor of Ibibo Group All brands of Ibibo group like Goibibo, redBus, Ryde and Rightstay would come under MakeMyTrip (new entity) Statistics Business Share in Travel Industry     New organization Structure Figure 2 New Organization Structure Looking to Hire Mobile App Development Company ? Contact Now See here     Deep Kalra, Founder of MakeMyTrip – Group CEO and Executive Chairman, MakeMyTrip Rajesh Magow, Co-founder of MakeMyTrip – CEO India, MakeMyTrip Ashish Kashyap, Founder and CEO of ibibo Group – Co-founder and Presidnet of the organization (MakeMyTrip Executive team)   Bibliography IndiaTimes. (2016, 10 19). EconomicTimes. Retrieved from EconomicTimes: http://economictimes.indiatimes.com/small-biz/startups/online-travel-portals-makemytrip-and-ibibo-announce-merger/articleshow/54921415.cms Livemint. (2016, 10 19). Livemint. Retrieved from Livemint: http://www.livemint.com/Companies/W9atx25k79RpQcdbRxWuTP/MakeMyTrip-to-buy-rival-ibibo-Group.html Medianama. (2016, 10 19). Medianama. Retrieved from Medianama: http://www.medianama.com/2016/10/223-makemytrip-ibibo/

Build Your Agile Team

Enter your e-mail address Please enter valid e-mail

Categories

Ensure your sustainable growth with our team

Talk to our experts
Sustainable
Sustainable
 

Blog Our insights

15 Benefits of Power Apps for CTOs
15 Benefits of Power Apps for CTOs

Implementing quick apps with the right strategies is essential for CTOs as it helps them deal with problems instantly and effectively. This is feasible by using a low-code technology, like Microsoft Power Apps. Check this comprehensive guide to learn more about Power Apps.

Power Automate Examples: Healthcare, Legal, Fintech
Power Automate Examples: Healthcare, Legal, Fintech

Automation is non-negotiable today. You cannot expect your team to do boring tasks such as data entries, email attachments, sending reminders, and more. And when it comes to automating...

Top technology trends transforming the legal industry in 2024
Top technology trends transforming the legal industry in 2024

Every business uses technology, but why is it so important for the legal sector? Because, based on the facts, there are more than 5 crore cases waiting in India, and new cases are being added on a daily basis. Adopting technology in these circumstances is essential for restructuring legal processes and accelerating case resolution.