Yatra (company)

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Yatra
TypePrivate
Nasdaq: YTRA
IndustryOnline travel agency
Founded1 August 2006 (2006-08-01)
FounderDhruv Shringi (CEO), Manish Amin (CIO) and Sabina Chopra (COO - Corporate Hotels)
HeadquartersGurugram, Haryana, India
ProductsFlights, hotels, holidays, trains, buses
ServicesTravel booking
Websitewww.yatra.com

Yatra.com is an Indian online travel agency and travel search engine. It is based in Gurugram, Haryana. It was founded by Dhruv Shringi, Manish Amin and Sabina Chopra in August 2006.[1]

History[]

In April 2012, it became the second-largest online travel service in India, with a 30 percent share of the ₹370 billion (US$4.9 billion) market for online travel-related transactions.[2] It launched "holiday-cum-shopping card" with State Bank of India (SBI).[3]

In November 2013, Yatra.com launched e-gift cards in collaboration with Qwikcilver.[4]

In January 2016, Yatra.com appointed Vikrant Mudaliar as a chief marketing officer. He previously served as chief sales and marketing officer at Lenskart.com.[5] It was publicly listed on the NASDAQ under the ticker symbol YTRA in December of the same year.[6]

In July 2019, Ebix, a US-based company, planned to acquire Yatra.com[7] but the acquisition was cancelled in June 2020.[8]

In June 2020, Yatra.com announced an underwritten public offering at $11.5 mn[9] and laid off about 400 employees around the same time.[10]

In June 2021, Yatra collaborated with Oyo Rooms, Airbnb, and EaseMyTrip to form the Confederation of Hospitality, Technology and Tourism Industry (CHATT), an industry body for the tourism sector of India.[11]

Acquisitions[]

Yatra.com made three acquisitions: ticket consolidator Travel Services International (TSI) in October 2010, global distribution system provider Magicdom and Indian events and entertainment portal BuzzInTown. All were acquired for undisclosed amounts.[12][13] In July 2012, Yatra.com acquired a 100% stake in Travelguru.[14] In 2016, Yatra.com [15] acquired-hired Mumbai-based Travel-logs.in, which specializes in customized city walks and private tours.[16]

Investors[]

Early investors included Reliance Venture Asset Management Ltd,[17] Web18 of TV18 Group (a subsidiary of Network 18), Norwest Venture Partners and Intel Capital.[18] In April 2011, it announced funding of ₹2 billion (US$27 million) from investors including Valiant Capital Management, Norwest Venture Partners (NVP) under Promod Haque's management and Intel Capital.[19]

References[]

  1. ^ Jagmohan Bhanver; Komal Bhanver (25 March 2017). CLICK!: The Amazing Story of India's E-commerce Boom and Where It's Headed. Hachette India. pp. 69–. ISBN 978-93-5195-028-8.
  2. ^ "..two important stakeholders in online travel,." Business Standard. 25 April 2012.
  3. ^ "Yatra.Com launches holiday-cum-shopping credit card with SBI". BUsiness Standard. 2 April 2012.
  4. ^ "Yatra.com launches e-gift card" The Hindu Business Line, 27 November 2013
  5. ^ "Yatra.com hires LensKart's Vikrant Mudaliar as chief marketing officer" The Economic Times, 20 January 2016
  6. ^ "Yatra.com to list on NASDAQ via reverse merger with US-based blank cheque firm". VCCircle. 14 July 2016. Retrieved 7 October 2021.
  7. ^ "US-based Ebix buys online travel portal Yatra.com". @businessline. Retrieved 18 July 2019.
  8. ^ "Yatra's failed merger with Ebix dents the company's earnings in an already troubled quarter". Business Insider. Retrieved 7 October 2021.
  9. ^ "Yatra Closes $11.5 Mn Public Offering After Cancelling Ebix Merger". Inc42 Media (in Latin). 25 June 2020. Retrieved 26 June 2020.
  10. ^ "After fall out of the deal with Ebix, Yatra lays off 400 employees". Entrackr. 23 June 2020. Retrieved 26 June 2020.
  11. ^ Alawadhi, Neha (9 June 2021). "CHATT: New association announced, will help tourism, hospitality with tech". Business Standard India. Retrieved 7 October 2021.
  12. ^ Yatra acquires events and entertainment portal Buzzintown.com afaqs.com.
  13. ^ "Yatra.com acquires events portal Buzzintown.com". Retrieved 3 February 2016.
  14. ^ afaqs! news bureau (2 July 2012). "Yatra.com acquires 100 percent stake in Travelguru". afaqs.com. Noida, India: afaqs!. Retrieved 16 May 2016.
  15. ^ "Lack Of Cash Flow, Demand For Refunds Hit Indian OTA Segment". Inc42 Media. 12 May 2020.
  16. ^ "Yatra acqui-hires travel-logs to boost tours within cities" The Economic Times, 20 January 2016
  17. ^ "Our Portfolio". Reliance Venture.
  18. ^ "Yatra Investors - Yatra.com". Yatra.com. Retrieved 3 February 2016.
  19. ^ "Yatra.com receives Rs 200 crores in funding to fuel growth". afaqs. 20 April 2011.

External links[]

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