Ibibo
 | |
| Company type | Private |
|---|---|
| Industry | Online Travel |
| Founded | 2007 |
| Founder | Ashish kashyap |
| Headquarters | , India |
| Products | flight bookings, hotel and holiday bookings, bus bookings |
| Website | ibibo.com |
ibibo Group is an online travel organization founded in January 2007 by Ashish Kashyap. The company is a subsidiary of Naspers,[1] which owns an 80% stake in Ibibo Group. In February, Naspers announced plans to increase its stake in Ibibo Group to 90% by investing additional $250 million in the company.[2]
The group owns the B2C online travel aggregator Goibibo, and online bus ticketing platform Redbus.in, and has a 51% stake in the B2B travel website travelboutiqueonline.com.[3] The company also owns a minority stake in Naspers' payment gateway business PayU Global.[4]
In 2013, ibibo Group was named one of the top five most trusted e-commerce brands in India in The Brand Trust Report India Study – 2013.[5]
History
Ibibo started as a social networking service in 2007,[6] and later changed to become an e-commerce and travel organization. In 2009 Goibibo.com was launched.[7]
Acquisition and investments
redbus.in
Redbus.in became a part of ibibo group via a 100% acquisition.[8][9] The business also owns BOGDS, a cloud computing service for bus operators, and SeatSeller, a GDS for bus inventory distribution.[10]
redbus won the 'Global Mobile Innovation in Travel Award’[11] announced by Eyefortravel in March 2014. It also won the Business Standard annual award for 'The Most Innovative Company of 2013'.
Goibibo
Goibibo is an online travel aggregator, headquartered at Gurgaon, India, formed as part of the Ibibo group in 2009.[12] It permits bookings at hotels and transportation companies, and can be accessed via mobile apps. In 2015, Goibibo.com became the first Indian OTA to partner with Google Flight Search.[13][14] Goibibo.com was awarded The Economic Times 'Best Tech Travel
YourBus
In March 2014 ibibo Group acquired Bangalore-based bus tracking startup YourBus.[15]
YourBus, founded by BITS-Pilani graduates Rajesh Mallipeddi and Satya Padmanabham in 2011,[16] is a GPS-based bus tracking and analytics platform. The YourBus application on a smartphone shows users the location of a bus in real time on a map. It also tells users the arrival time at their pickup point, with SMS updates.[17]
Djubo
In August 2015 ibibo Group bought a minority stake in cloud-based hotel services startup Djubo[18] for an undisclosed amount.[19] Djubo, founded in February 2015 by Tarun Gulati and Sankalp Goel, manages hotel bookings for over 100 hotels through a single interface.
PayU India
In 2011, Ibibo rolled out its payment gateway innovation called PayU in the Indian market, to permit websites to integrate e-commerce transactions through online payments.[20] With PayU, a business can process payment by using credit cards and debit cards (for more than 50 banks), and online banking for banks including ICICI, HDFC, SBI, and Axis Bank. PayU provides an API for integration and transaction analytics to improve the speed and security of payment processing.[21]
Acquisition by MakeMyTrip
In October 2016, India based online travel company MakeMyTrip, a Nasdaq listed firm has decided to acquire rival Indian travel company Ibibo at an undisclosed amount to form the country’s biggest online travel company.[22]
Management
- Ashish Kashyap, Founder & CEO, ibibo Group[23][24]
- Sanjay Bhasin, Co-founder, Goibibo
- Vikalp Sahni, Co-founder & CTO, Goibibo
- Prakash Sangam, CEO, redBus
- Anoop Menon, CTO, redBus & Co-founder, ibibo
- Pankaj Jain, CFO, ibibo Group
Awards
- Economic Times Most Promising Brands 2015.[25]
- Goibibo.com is the winner of OTM India’s Top 100 Travel producers Award 2015[26]
- Goibibo.com voted as the 'Best Website'of the Year India 2014[27]
- Goibibo.com was awarded The Economic Times 'Best Tech Travel Aggregator Brand'Award for 2015[28]
References
- ^ [1], Naspers
- ^ Sahay, Priyanka. "Ibibo to raise $250 million from Naspers". http://www.livemint.com/. Retrieved February 27, 2016.
{{cite web}}: External link in|website= - ^ MIH Group acquires 51% stake in Tek Travels, The Economic Times, Apr. 2012
- ^ Ibibo Group secures minority stake in Nasper's PayU Global, Mar. 13, 2014
- ^ Most trusted online brand in India, The Times Of India, Feb. 26, 2013
- ^ Ibibo.com Launched New Ad Commercial, Business Wire India, Jan. 8, 2008.
- ^ "Goibibo.com".
- ^ redbus sold to Ibibo, The Times Of India, Jun. 21, 2013
- ^ ibiboGroup Acquires redbus.in, The Telegraph, Jun. 21, 2013
- ^ [2], bogds
- ^ EyeforTravel. "EyeforTravel: Online Travel Insights".
- ^ "ibibo Group".
- ^ www.goibibo.com becomes the first Indian OTA to partner with Google Flight Search, IndianTelevision.com, Monday, 12 January 2015,
- ^ Google launches Flight Search tool for India, Business Standard, January 13, 2015
- ^ The Times of India, Mar. 21, 2014
- ^ YourBus integration with RedBus prompted acquisition, LiveMint, Mar. 21, 2014
- ^ Naspers-Backed ibiboGroup Acquires Online Bus Tracking And Analytics Startup YourBus In India, TechCrunch, Mar. 19, 2014
- ^ "DJUBO - Online Hotel Sales Platform & CRS".
- ^ [3], August 28, 2015
- ^ Naspers Launches Payment Gateway PayU In India, MediaNama, Oct.7, 2011
- ^ PayU – Payment Gateway for Indian market, iamWire, Oct.7, 2011
- ^ "MakeMyTrip acquires rival travel portal ibibo". Business Standard.
- ^ Priyanka Pani. "The BL interview". The Hindu Business Line.
- ^ "Travel News - Maiden Great Indian Travel Festival to take place from Apr 18-26, 2015 - TravelBiz Monitor".
- ^ "Economic Times Most Promising Brands 2015 unveiled".
- ^ "Goibibo.com is the winner of OTM India's Top 100 Travel producers Award 2015 - 04 Feb 2015".
- ^ "Goibibo.com voted as the 'Best Website'of the Year India 2014".
- ^ "Goibibo is awarded The Economic Times 'Best Tech Travel Aggregator Brand'Award for 2015".