Ibibo to raise $250 million from Naspers
Indicating a huge opportunity in the travel and hotel booking space, South African media company Naspers Group on Wednesday announced its plans to invest an additional $250 million in online travel venture Ibibo Group, which owns and operates bus ticketing platform redBus.in and hotel booking site Goibibo.com.
"The Indian e-commerce market and the online travel segment in particular, offer exciting growth prospects for us as a group. With a talented, proven management team and exceptional technology, Ibibo is well positioned to benefit from an increasing number of people using online travel services going forward," said Bob van Dijk, chief executive officer, Naspers Group in a statement.
Naspers has an 80% holding in Ibibo Group. Naspers also owns majority stake in PayU Global, an international online payment solution company which operates in 12 countries.