Ibibo

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ibibo Group
Private
Industry Online Travel
Founded 2007 (2007)
Founder Ashish kashyap
Headquarters Gurgaon, Haryana, 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[edit]

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[edit]

Goibibo.com[edit]

Goibibo was launched in 2009 and is part of ibibo Group. Goibibo is India’s largest hotels aggregator and also one of the leading air aggregator. Goibibo's core value differentiator is delivery of the fastest and the most trusted and reliable user experiences. Goibibo is also the number one ranked mobile app under the travel category. Goibibo.com was awarded 'The Best Tech Travel Aggregator Brand Award 2015[8] by The Economic Times.

PayU India[edit]

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.[9] 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.[10]

redbus.in[edit]

Redbus.in became a part of ibibo group via a 100% acquisition in June 2013.[11][12] redBus is India’s Number One online bus ticketing platform, both on mobile and on desktop. The business also owns BOGDS, a cloud computing service for bus operators, and SeatSeller, a GDS for bus inventory distribution.

redBus has been rated the most trusted brand in the online travel category and the 13th most trusted internet brand in the overall rankings as per the Brand Trust Report, India Study 2015.[13] It also won an award for being ‘The Most Trusted Brand’ by IBC InfoMedia in 2015. In March 2014 it won the 'Global Mobile Innovation in Travel Award’[14] announced by Eyefortravel.

YourBus[edit]

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[edit]

In August 2015 ibibo Group bought a minority stake in cloud-based hotel services startup Djubo for an undisclosed amount.[18] Djubo, founded in February 2015 by Tarun Gulati and Sankalp Goel, manages hotel bookings for over 100 hotels through a single interface.

redbus.pe and redbus.co[edit]

In July 2016 Redbus acquired Peru-based bus tracking startup Busportal. In 2017 they founded a chapter of Redbus in Colombia.

MakeMyTrip & ibibo Group Merger[edit]

In October 2016, India based online travel company MakeMyTrip, a Nasdaq listed firm and ibibo Group, India's largest travel group agreed to merge in a stock transaction, to form the country’s biggest online travel company[19][20]

References[edit]

  1. ^ "Naspers". Archived from the original on September 30, 2015. 
  2. ^ Sahay, Priyanka. "Ibibo to raise $250 million from Naspers". www.livemint.com/. Retrieved 2016-02-27. 
  3. ^ "MIH Group acquires 51% stake in Tek Travels". The Economic Times. 21 April 2012. 
  4. ^ "Ibibo Group secures minority stake in Nasper's PayU Global". Business Standard. 13 March 2014. 
  5. ^ "Google is most trusted online brand in India, Facebook is second". The Times Of India. 26 February 2013. 
  6. ^ "Ibibo.com Launched New Ad Commercial}publisher= Business Wire India". 8 January 2008. 
  7. ^ "Goibibo.com". CrunchBase. 
  8. ^ "Best tech brand award". The Economic Times. 
  9. ^ "Naspers Launches Payment Gateway PayU In India". MediaNama. 7 October 2011. 
  10. ^ "PayU – Payment Gateway for Indian market". iamWire. 7 October 2011. 
  11. ^ "redBus sold to Ibibo in one of the biggest overseas internet deals". The Times Of India. 21 June 2013. 
  12. ^ "ibiboGroup Acquires redbus.in". Telegraph India. 21 June 2013. 
  13. ^ "redBus is the most trusted brand : Brand Trust Report 2015". www.firstreport.in. 2 April 2015. 
  14. ^ EyeforTravel (blog). "EyeforTravel: Online Travel Insights". 
  15. ^ "ibibo buys Bangalore-based bus tracking startup YourBus". The Times of India. 21 March 2014. 
  16. ^ "YourBus integration with RedBus prompted acquisition". LiveMint. 21 March 2014. 
  17. ^ "Naspers-Backed ibiboGroup Acquires Online Bus Tracking And Analytics Startup YourBus In India". TechCrunch. 19 March 2014. 
  18. ^ "Ibibo Group buys minority stake in cloud-based hotel services Djubo". The Economic Times. 28 August 2015. 
  19. ^ "Online travel portals MakeMyTrip and ibibo announce merger". The Economic Times. 20 October 2016. 
  20. ^ "MakeMyTrip, ibibo to merge, to become a dominant player". The Times of India. 19 October 2016. 

External links[edit]