MakeMyTrip and Goibibo Merger

iFour Team - 19 Oct 2016

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 Overview

New organization structure

Makemytrip and Goibibo Merger Organization Structure Figure 2 New Organization Structure

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/

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