Ibibo Group, India based online travel company has raised $250 million from existing investor Naspers. The raised funding will be used in Ibibo’s hotel vertical and technology.
Ibibo, has been one of the most sought-after online travel companies in India. According to the data provided by the company, it did 6.5 million transactions in the last quarter of 2015, as a result, over 1.6 million hotel rooms were booked through its platform, Goibibo.com
Along with Goibibo, the group also owns RedBus and YourBus for bus ticketing. The company targets hotel booking, flight booking and bus ticket booking as the major activities.
It has recently launched GoStays, a budget hotel room service, to take on startups like Oyo Rooms in India and make a name in budget hotel space. When the last usage data was out, ibibo group announced a 400 percent year-on-year growth along with announcing that 72 percent of the traffic came from mobile app and mobile site.
Speaking over this development, Bob van Dijk, CEO – Naspers Group stated his happiness over the fact that online travel market in India is growing exponentially and ibibo group has been able to maintain that top spot since a while. He is hopeful of ibibo becoming more profitable with the number of online users going up.