MakeMyTrip (MMT) is recognised as one of the best online […] By ... After two years of partnerships and strategic investment, MakeMytrip acquires Mygola.com. Get a dose of digital travel in your inbox each day. Late last year, MakeMyTrip, along with a clutch of other established hotel aggregators, had delisted these startups from its platform. It provides booking services for flights, hotels, and buses; and holiday packages and travel guides. MakeMyTrip had an average of about 7.8 million unique visitors per month in fiscal year 2015. MakeMyTrip Chairman Deep Kalra BCCL. Speaking on the investment, Deep Kalra, Founder and Group CEO, MakeMyTrip.com said, “HolidayIQ operates in a very exciting space in the Indian online travel market. GET THE LATEST TRAVEL INDUSTRY NEWS, Naspers will own 5.6% of Ctrip after the transaction. After submitting your information, you will receive … China’s Ctrip invests in India’s MakeMyTrip, Connect with Leigha (BDM-Middle East & India), Affordable Luxury in Thailand by Centara Hotels, Rising Above the Oridinary by Conrad Bangkok. Chinese online travel giant Ctrip.com International has announced plans to invest US$180 million in MakeMyTrip, India’s largest online travel company. Ctrip will invest this amount through convertible bonds. According to Zacks, “MakeMyTrip Limited is an online travel service company which offers travel products and solutions in India and the United States. Be part of our community of seasoned travel and hospitality industry professionals from all over the world. Aug 21, 2020, 22:01 IST. (Read Press Release.) He said the investment, being paid for via convertible bonds, will mean more opportunities for Chinese citizens to visit India, which is considered one of Ctrip's strongest future markets. What Should You Know About Workers’ Compensation? (C) OfficeChai 2020. James Liang, co-founder & CEO of Ctrip, added; “Today’s announcement marks the beginning of the strategic relationship between Ctrip and MakeMyTrip. The potentially significant move will see Ctrip invest in MakeMyTrip via convertible bonds, and the Indian company has also granted Ctrip permission to acquire MakeMyTrip shares in the open market, enabling the Chinese group to own up to 26.6% of the Gurgaon-based OTA. It will also invest shares of MakeMyTrip in a third-party investment entity, which will own around 4% of the Indian company’s total voting rights. The entire travel industry has got eyes set on China and India as both the markets hold huge potential for growth. All rights reserved. Ctrip will own around 49% of MakeMyTrip's total voting rights. China's Ctrip China's Ctrip Investment MakeMyTrip MakeMyTrip shares China and MakeMyTrip. Leading Chinese travel company Crip has invested $180 million into MakeMyTrip. Travel Daily - Informing, connecting and developing the world’s travel industry professionals. In what could turn out to be the largest deal in the country’s online travel industry, Gurgaon-based online travel company MakeMyTrip on Thursday raised $180 million (Rs 1,200 crore) from Ctrip, one of China’s largest online travel companies. This strategic investment will enable both companies to rapidly scale up hotel content and reviews for Indian customers, and provide more compelling offerings to their visitors. Ctrip will eventually build a stake of up to 26.6 of MMT’s shares giving them right to name a director. Naspers has sold its entire stake in MakeMyTrip in exchange for 5.6% of shares in Ctrip, effectively exiting the Indian travel portal and becoming an investor in Ctrip instead. The investment in MakeMyTrip follows a deal signed late last year that led to Ctrip acquiring a 45% stake in its Chinese rival, Qunar. MakeMyTrip expects to use the capital ... ("Ctrip"), has agreed to make an investment in MakeMyTrip. MakeMyTrip today is 53% owned by a Chinese travel player, Ctrip (as per regulatory submissions, 49% is owned directly by Ctrip while remaining 4% is held in a third-party entity known as Golden Trip Investment Fund LP). Email Alerts. MakeMyTrip’s lucrative hotel booking sector has been under threat from upstart budget booking startups Oyo Rooms and Zo Rooms. packaged tours and corporate travel management in China ("Ctrip"), has agreed to make an investment in MakeMyTrip. The news of investment has pushed the stock prices of MakeMyTrip northwards with a growth of over 20 percent on Thursday. Moreover, India's unicorns have also, of late, become accustomed to attracting Chinese investment. If you would like to know more about Chinese investors and expand your business services or engage in investment research project, why not sign up for DCCC lists at: dccchina.org The headquarters of MakeMyTrip is located in Gurgaon, Haryana, India. In the initial three years of the Modi regime, Chinese investment in India increased five folds to $ 8 billion from $1.6 billion in 2014. That may be the thinking behind Chinese online travel giant Ctrip’s latest investment; the company announced today that it will invest US$180 million in India’s MakeMyTrip via convertible bonds. and executives subscribed to our daily newsletter. Ever since the coronavirus pandemic, which originated in Wuhan in China, gripped the world, there is a major global movement to ban China-made products and services. DCCC China Investors and investments Company directory (lists) offer complete update China state-owned and private Chinese investors/companies investment in the EU countries in recent ears. MakeMyTrip will use this investment on further strengthening its leading market share in the Indian online travel market by improving its mobile offerings, given the high smartphone penetration that India is currently witnessing. Chinese online travel giant Ctrip.com International has announced plans to invest US$180 million in MakeMyTrip, India’s largest online travel company. On its debut on Nasdaq in 2010, the company had notched up a valuation of $800-900 million. Must Watch. STAY UPDATED WITH THE LATEST Post the investment, Ctrip would have the rights to appoint a director to MakeMyTrip’s board of directors. MakeMyTrip (India) Pvt., Ltd. operates as an online travel company in India. ... 2016 - January: In January 2016, the Chinese travel booking company Ctrip agreed to invest $180 million to MakeMyTrip. 18 of India's 30 unicorns had funding in varying degrees from Chinese outfits. 8 Crucial SEO Ranking Factors: Are You Giving Them the Attention They Deserve? Ctrip will invest the amount via convertible bonds. Ctrip will own around 49 per cent of MakeMyTrip’s total voting rights. Ctrip will also have the right to appoint a director to the MakeMyTrip board. In the year 2011, MakeMyTrip created several travel-related Mobile applications for all types of smartphones. 93,51,109 Confirmed; 1,36,200 Deaths; Full coverage. The market cap of MakeMyTrip, one of India’s oldest tech startups, has been hovering around $650 million. The combination of Ctrip and MakeMyTrip – the two largest OTAs in the world’s two most populous countries – could mark the birth of a new global online travel behemoth. TRAVEL NEWS, JOBS & EVENTS! Join over 180,000 travel agents, professionals our site is India’s largest online travel company. Foreign direct investment into China rose 6.4 percent year-on-year to CNY 801 billion or USD 115 billion in the January-October 2020 period. In a public tweet sent last year, India's competition watchdog CCI has officially approved Trip.com Group's investments in MakeMyTrip. Mumbai: Online travel agency MakeMyTrip Ltd on Thursday said China’s Ctrip.com International Ltd will invest $180 million (about ₹ 1,200 crore) in the company through convertible bonds. Debt-free MakeMyTrip sets aside money for investment opportunities — while its own revenue is down 95%. Email Alerts. This page is a platform to connect to people & talk about our latest offerings and services. Through this transaction, Ctrip has now gained exposure to India’s fast growing online travel market.”. Post the investment, Ctrip would have the rights to appoint a director to MakeMyTrip’s board of directors. MakeMyTrip Limited is an Indian online travel company founded in 2000. MakeMyTrip Ltd said it has signed an agreement with fellow NASDAQ-listed firm Ctrip.com International Ltd where the Chinese travel services firm will invest $180 million (Rs 1,200 crore) through convertible bonds in India's largest online travel agency. MakeMyTrip Limited 1-917-769-2027 Jonathan.Huang@go-mmt.com. and executives subscribed to our daily newsletter. We believe there are many similarities in the Indian and Chinese online travel markets and we expect this strategic relationship between two market leaders to be mutually beneficial,” said Deep Kalra, founder & group CEO of MakeMyTrip. Leading Chinese travel company Crip has invested $180 million into MakeMyTrip. In the 2014-15 financial year, MakeMyTrip reported revenues of almost US$300m, while Ctrip’s full-year revenues for 2014 reached US$1.2 billion. Naspers will sell its entire stake in MakeMyTrip to Chinese travel services provider Ctrip.com International Ltd, MakeMyTrip said in a statement. 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