travel | Pixr8 News

4Feb By AdityaNo Comments

ACQUISITION

Travel App Ixigo acquires Confirmtkt

Travel app ixigo acquire 100 percent shares of Bengaluru-based online train discovery and booking platform Confirmtkt in an undisclosed cash and stock deal. The founders of ixigo will join the Confirmtkt board and existing investors of Confirmtkt, including Venture Catalysts, will be exiting the company fully as a part of the deal, ixigo said in a statement on Thursday. Both companies will continue to run independently, post this acquisition. Ixigo and Confirmtkt are official IRCTC B2C premium ticketing partners for online train reservations in India. "This deal will help the group to consolidate its presence in Tier 2/3/4 markets with its combined user base of nearly 200 million Indians", the statement said. Aloke Bajpai and Rajnish Kumar, Co-Founders, ixigo, said, "The combi...

17Dec By PriyankaNo Comments

Market

Travel Firm EaseMyTrip Files for IPO

Online travel company EaseMyTrip has filed draft papers with capital markets regulator Sebi to float more than $71 million (Rs 510 crore) initial public offering. Through the IPO, company’s founders Nishant Pitti and Rikant Pitti will each sell shares to the tune of $35 million (Rs 255 crore) through offer-for-sale mechanism, according to draft papers filed with the Securities and Exchange Board of India (Sebi). The city-based company said the object of the public issue is to achieve the benefits of listing the equity shares on stock exchanges. “Our company expects that listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders,” it added. The company’s issue is being managed by Axis Capital and JM Financial. Founde...

3Dec By AnkitaNo Comments

INDIA

Thomas Cook India Acquires Branding Rights for India, Sri Lanka & Mauritius

Travel services firm Thomas Cook India has entered into an agreement to acquire the rights of the Thomas Cook brand in India, Sri Lanka and Mauritius for around Rs 13.9 crore. The company has signed a pact with AlixPartners, Thomas Cook UK's appointed special managers, to acquire the exclusive ownership of the brand in these three markets for one-time payment of GBP 1.5 million (around Rs 13.9 crore), the travel services company said in a statement. "I am delighted that we have been able to sign an agreement to acquire the rights to the iconic Thomas Cook brand across India, Mauritius & Sri Lanka. The brand is one of the most respected names in the travel services space and one that we at Thomas Cook India have operated uninterrupted for 138 years since 1881," Thomas Cook (India...

Thomas Cook Bankrupt, Left 600,000 Tourists Stranded Abroad

23Sep By AnkitaNo Comments

News

Thomas Cook Bankrupt, Left 600,000 Tourists Stranded Abroad

23rd Sept, 2019- UK based travel firm Thomas Cook file for bankruptcy, leaving some 600,000 holidaymakers stranded and sparking the UK's biggest repatriation since World War II. The 178-year old debt ridden firm, which had struggled against fierce online competition has failed to secure 200 million pounds (USD 250 million, 227 million euros) from private investors and collapsed in the early hours. Bankruptcy, which followed a lengthy period of chronic financial turmoil after a disastrous 2007 merger deal, left some 600,000 tourists stranded worldwide according to Thomas Cook, while its 22,000 staff are now out of a job. The British government launched emergency plans to bring some 150,000 UK holidaymakers back home from destinations including Bulgaria, Cuba, Turkey and the U...

Xoxo Tours — The Solo Travel App That Everyone Went Crazy Over It

29Jul By PriyankaNo Comments

Story

Xoxo Tours — The Solo Travel App That Everyone Went Crazy Over It

There are not many things which you can’t do with an internet connection in this 21st century. Yes, the internet has definitely taken the world by storm. Who imagined that one day you will be connecting with strangers — the travelers from the far end of the world in an instant and building a friendship by chatting or video calling with them. Connecting with different people across the globe is one of the coolest things that the internet has made achievable. And people with brilliant minds are taking advantage of it to create possibilities. Xoxo Tours, a social travel app is a great example of it and people have been going crazy over this solo travel app since its launch. Xoxo Tours Solo Travel App: The Innovative App that Bridges Distance Xoxo Tours offers an opportunity for like...

Ebix acquires Travel Website Yatra.com for $337.8 million

17Jul By PriyankaNo Comments

ACQUISITION

Ebix acquires Travel Website Yatra.com for $337.8 million

NEW YORK–July 17, 2019 –Ebix has acquired one of the leading Indian travel platform Yatra.com at an enterprise value of $337.8 million. Ebix is a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries. Yatra Online is the parent company of Yatra Online Pvt. Ltd., India's leading Corporate Travel services provider and one of India's leading online travel companies. Following the completion of the transaction, Yatra will become part of Ebix’s EbixCash travel portfolio alongside Via and Mercury and will continue to serve customers under the Yatra brand. The transaction will create India’s largest and most profitable travel services company, and a leading online travel platform poised to captur...

WalkABit app Officially Launched in Spain

8Jun By AnkitaNo Comments

Tech

WalkABit app Officially Launched in Spain

In this holiday season, travelers and Barcelona locals will be able to earn cashback on their daily spendings in bars, restaurants and tourist services. Users will also get money for visiting most famous landmarks in the capital of Catalonia. WalkABit a company that let users earn cryptocurrency on travel is launching its’ operations in Spanish city Barcelona. The company is planning to launch it's app in three more major capitals in the near future. For starters, there are 18 landmarks where users will have to be on site or around and answer a simple question to get rewarded. On top of that, there are over 20 locations to get cashback from (5% or more on each transaction). More places to earn will be added weekly. “We built the app with one thing in mind let’s get people pa...

Ebix offers $336 Million to acquire Yatra.com

13Mar By PriyankaNo Comments

ACQUISITION

Ebix offers $336 Million to acquire Yatra.com

US-based software firm Ebix Inc Monday said it has offered to acquire Yatra Online Inc, the parent company of online travel firm Yatra.com, for $336 million (over Rs 2,345 crore). The company has sent a letter to the Board of Yatra Online, Inc outlining offer to acquire 100 per cent of the outstanding stock of Yatra Online for $7 per share on a debt-free basis, Ebix Inc said in a statement. Gurugram-based Yatra.com is a major player in the online travel sector and provides services including domestic and international air ticketing, hotel bookings, homestays, holiday packages, bus ticketing, rail ticketing, activities and ancillary services. Ebix intends to merge Yatra Online in the company's Indian EbixCash subsidiary set up, it added."The Ebix offer, based on approximately 48 mill...

Travel App Ixigo Settles GMV of $250 million

12Nov By Gauri SinghNo Comments

BUSINESS

Travel App Ixigo Settles GMV of $250 million

Travel meta search firm Ixigo has settled gross transactions of $250 million (about Rs 182 crore) by the end of the current financial year. “In FY 2017-18, we did GMV of $100 million, and in the year before that (FY 2016-17), we had done $25 million. Next year, we should comfortably exceed $500 million,” Aloke Bajpai, chief executive of Ixigo said. The co-founder of the company believes that the growth of the company is being led by a combination of greater acceptance by consumers and the company’s decision last year to start monetising its railway and bus-ticketing app. While Ixigo’s flagship air travel and hotel reservation app continues to target consumers emanating from tier-1 cities, the railway app has been projected for the budget traveller, which allows the company to cross-se...

Travel App RailYatri Acquihires YatraChef

23Jan By AnkitaNo Comments

ACQUISITION

Travel App RailYatri Acquihires YatraChef

Noida based RailYatri acqui-hired Kochi based food-delivery technology start-up YatraChef. Yatrachef team will now manage the pan-India supply side of the former's in-transit delivery business. "YatraChef brings a deep experience of nearly four years in food delivery and vendor management, and have a track-record of delivering outstanding consumer experience to travelers. Their skills will help us jointly develop new offerings that would re-define the traveler experience with RailYatri," said Manish Rathi, CEO and Co-founder RailYatri. Last-mile capability is becoming a critical piece in commerce marketplaces as companies are able to provide a complete online and offline experience to its users, in addition to creating a premium and differentiated offering. With this, a long-dista...

Cleartrip Launches Arabic Version of Its Desktop Websites

23Jun By PriyankaNo Comments

News

Cleartrip Launches Arabic Version of Its Desktop Websites

Comprehensive travel and leisure activities platform Cleartrip today said it has launched the Arabic version of its desktop websites to strengthens its leadership position in the Middle East. The launch will make available Cleartrips seamless user experience and hassle-free booking experience to Arabic audiences, particularly in markets belonging to the Cooperation Council for the Arab States of the Gulf (formerly Gulf Cooperation Council), the company said in a release. The Arabic website will have airline-focused content, which is a top consumer preference in the region. "Despite being a huge market, the GCC travel industry is still growing and is ripe for disruption. Having achieved a clear leadership position in the UAE, we wanted to expand our footprint across other high-pote...

9Jun By AdityaNo Comments

FUNDING

Online Travel Destination Platform Guiddoo Raises 2 Crore Funding

Guiddoo an in-destination platform that offers information on tours and activities, dining and shopping options to Indian travelers going abroad has raised USD 300,000 (about Rs 2 crore) from a clutch of investors. The company would utilise the funds to support product and technology development through its newly-opened technology and data unit based in Pune, according to a statement. Part of the funds would also be utilised towards building pan-India distribution for its tours, activities and holidays products. "Guiddoo has raised funding of USD 300,000 in Pre- Series A funding by existing investors Pawan Borle and Nirmal Singh as well as new investors including Manish Prasad, Vineet Varma, Nick Haulkoury, and Abhai S. Rao," the statement added.