Online Travel agency Cleartrip Pvt.
Ltd has acquired Saudi Arabian Travel start-up Flyin for an undisclosed amount.
This is Cleartrip first
cross-border acquisition and the Mumbai-based company is looking to step up
operations in West Asia’s travel market, which has witnessed the entry of a
dozen domestic and international budget operators such as FlyDubai, AirArabia,
Pegasus Airlines and others. The company claimed that the combined entity of
Cleartrip and Flyin will have a market share of over 60% in West Asia.
Saudi-based Flyin, which was
founded in 2008, currently offers bus and flight ticketing and several holiday
packages on its online portal. It claims to aggregate more than 320,000 hotels
and 450 airlines on its platform. Cleartrip, on the other hand, was founded in
2006, and has been in West Asia for the past five years. It offers air, hotel
and stays accommodation, and also aggregates local experiences on its portal.
Cleartrip claims to sell over 10
million flight tickets and 1.5 million hotel room nights annually. Cleartrip
last raised an undisclosed round of funding from its existing investors Concur
Technologies and Gund Investment, among others in June 2016. In India,
online travel is largely led by players such as Cleartrip, Yatra and MakeMyTrip,
which merged with Goibibo in 2016.
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