Ibibo Group Receives $250M Investment from Naspers
Summary
Ibibo Group, an Indian online travel company, receives an additional $250m investment from South African media company Naspers (JSE: NPN.SJ and LSE: NPSN).Ibibo will use the funds to extend its market position in the Indian hotels category and on additional technology innovations.Led by Founder & CEO Ashish Kashyap, The ibibo Group is India’s largest online travel group with integrated travel properties such as Goibibo.com (No.1 in hotels and leading air aggregator), redBus.in (No 1 online bus ticketing platform), YourBus (Vehicle tracking application), recently launched car sharing app, ibibo Ryde and Travelboutique (51% stake in the leading B2B online travel platform).The company is also backed by Chinese internet firm Tencent (HK: HK700).