MakeMyTrip mulling stake in travel site HolidayIQ - TravelMole


MakeMyTrip mulling stake in travel site HolidayIQ

Tuesday, 17 Jun, 2015 0

Indian online travel giant MakeMyTrip Ltd plans to make a sizeable investment in travel portal HolidayIQ.com.

Media reports quoting an unnamed source said MakeMyTrip will invest $30 million in Bengaluru based Leisure and Lifestyle Information Services Pvt. Ltd, parent company of HolidayIQ.

"The investment is expected in a month’s time," said a source familiar with the talks.

The Nasdaq-listed online travel agency, which is valued at almost $800 million, recently set up a $15 million innovation fund for acquisitions of travel start-ups.

"The fund is focused on young and new ventures in the travel technology space. We want to encourage entrepreneurs building niche companies in this domain," said Rajesh Magow, co-founder and India CEO at MakeMyTrip.

Two months ago it took over travel planning site MyGola.com, following the purchase of a 25% stake in hotel marketing firm Simplotel.



 

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.



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