Nasper | Pixr8 News

MakeMyTrip to Raise $330 million From Ctrip and Naspers

3May By AdityaNo Comments

FUNDING

MakeMyTrip to Raise $330 million From Ctrip and Naspers

Online travel firm MakeMyTrip today said it will raise $330 million (over Rs 2,115 crore) through share sale to investors as well as to Ctrip and Naspers’ arm MIH Internet, to fund expansion. The company has entered into share purchase agreements with undisclosed investors for placement of its ordinary shares, which is expected to generate gross proceeds of $165 million. The company will issue 4,583,334 ordinary shares in aggregate to investors at $36 per scrip. Moreover, it has also signed share purchase agreements with Nasdaq-listed Ctrip.com International Ltd and MIH Internet SEA Pte Ltd, a subsidiary of Naspers Ltd for issuance of the company’s ordinary shares and Class B convertible ordinary shares respectively. Under the agreement, MakeMyTrip will issue 9,16,666 ordinary ...

Makemytrip And Ibibo Group Announced Merger

18Oct By NitishNo Comments

ACQUISITION

Makemytrip And Ibibo Group Announced Merger

MakeMyTrip Limited and ibibo Group (owned by global technology group Naspers Limited, have agreed to pursue a transaction that will combine the two businesses under MMYT, creating one of the leading travel groups in India that provides a one-stop shop for all Indian travellers and serves as a critical partner for travel industry suppliers. The combination will bring together a bouquet of leading consumer travel brands, including MakeMyTrip, goibibo, redBus, Ryde and Rightstay, which together processed 34.1 mm transactions during FY2016. The transaction is expected to unlock value for customers, supply partners and shareholders, by combining the complementary strengths of each business. MakeMyTrip brings its strong brand, robust mix of domestic and outbound hotels and packages busines...

PayU Acquires Indian Payments Technology Citrus Pay For $130 Million

14Sep By AdityaNo Comments

ACQUISITION

PayU Acquires Indian Payments Technology Citrus Pay For $130 Million

PayU, a global online payment service provider has acquired Indian payments technology Citrus Pay for $130 million in an all-cash deal, a joint-statement said here on Wednesday. The agreement is due to close in the third quarter of 2016. The statement described $130 million transaction as the largest ever merger and acquisition cash deal in the Indian fintech sector. "Today's announcement is a significant milestone for both businesses, as well as the fintech industry in India. It is exciting for everyone across the PayU and Citrus teams as we bring together new capabilities that will help us to better serve our collective clients." said Laurent le Moal, CEO of PayU. The deal will grow PayU India customers to more than 30 million, processing a forecasted 150 million trans...

Nasper is Set To Acquire Citrus Pay For $180 Million

8Aug By NitishNo Comments

ACQUISITION

Nasper is Set To Acquire Citrus Pay For $180 Million

Citrus Pay, founded by Jitendra Gupta and Satyen Kothari in 2011 set to acquire by South African media and internet conglomerate Naspers for around $150-180 million, in an all-cash transaction deal. Japan's internet major Rakuten was also one of the contender to acquire Citrus Pay. However, the deal fell through. This acquisition deal is one of the largest deals in the Indian payments market. Earlier Snapdeal buy out Freecharge for $400 million (30% cash, 70% stock). The domestic payments market has been abuzz with mergers and acquisitions in the past year after vast opportunity created by leading players Paytm and Freecharge. ALSO READ: PayPal founder invest $3 million in Mumbai based startup citrus Pay Payment company Citrus Pay acts as a bridge between bank acc...

Naspers Invests $60 Million in Online-Learning Startup Udemy

3Jun By NitishNo Comments

FUNDING

Naspers Invests $60 Million in Online-Learning Startup Udemy

Udemy, a global marketplace for learning and teaching online, today announced a strategic investment of $60 million from Naspers through its Naspers Ventures division. Larry Illg, CEO of Naspers Ventures, is joining Udemy’s Board of Directors. Udemy plans to use the new capital to continue its strong international momentum, including growing its localized course content library and product offerings to meet the global demand for online learning. The investment is a follow-on to Udemy’s $65 million Series D round of financing from June of 2015. Over the past year, Udemy has experienced significant growth, particularly among its international business. With more than 40,000 courses now available in 80 different languages, Udemy offers the largest selection of online course content. ...