Wuds­tay buys Awe­some Stays

The Pak Banker - - COMPANIES/BOSS -

DELHI: Man­grove Cap­i­tal­backed Wuds­tay Travel Pvt. Ltd, which owns and op­er­ates online mar­ket­place for bud­get ac­com­mo­da­tion Wuds­tay.com, has ac­quired Awe­some Stays Pvt. Ltd, an off­line bud­get ho­tel ag­gre­ga­tor in an all cash-and-stock deal, the firm said on Tues­day. Nei­ther firm dis­closed the fi­nan­cial de­tails. The ac­qui­si­tion will help Wuds­tay ex­pand to six new mar­kets and grow its net­work of prop­er­ties to about 200 from the 150 ac­com­mo­da­tions cur­rently listed on its plat­form.

WudS­tay is present in Gur­gaon, Manali, Delhi, Cor­bett, Harid­war and Jaipur. With the ac­qui­si­tion, it will ex­pand to Varanasi, Goa, Mum­bai, Chandi­garh, Dehradun and Pune. Em­ploy­ees of Awe­some Stays, in­clud­ing chief ex­ec­u­tive of­fi­cer Deepak Sharma, will now join the WudS­tay team. Founded by Sharma and Pankaj Singh in Jan­uary 2014, Awe­some Stays only took book­ings over the phone. The firm was get­ting close to 6,000 or­ders a month. Founded in April 2015 by Pra­fulla Mathur, WudS­tay has raised close to $3 mil­lion from Man­grove Cap­i­tal Part­ners, Europe-based Sim­ile Ven­ture Part­ners and Nim­buzz chief ex­ec­u­tive of­fi­cer Vikas Sax­ena in July.

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