Ibibo to raise $250 mil­lion from Naspers

The Pak Banker - - COMPANIES/BOSS -

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.

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