Multilink gets an investor

The third investment made in 2019 alone, Shri Mahalaxmi Vacations has taken up a challenge to reach a combined turnover of ` 10,000 crore by 2020.

Parag Thakker, Director, Shri Mahalaxmi Vacations, has announced that they have now acquired a stake in online consolidator Multilink for an undisclosed amount. This is the third company that they have invested in this year, the most recent one being JustClickKaro.com in March 2019. They had acquired Arzoo.com in January 2019. Mumbaibased Multilink is headed by Nikhil Shah who has forayed into utilities as well, thereby offering a wide range of products in the online segment.

Thakker says, “We have found an able partner in Multilink. The three companies will now work as a group. Right now, I see all the three companies working differently, with their own set of distributors and retailers. With all of them coming together, we will have deeper penetration across India. That is the idea behind bringing all these companies together. For us, the focus right now is to have better penetration in the market and reach more and more travel agents. We as a group have taken up a challenge to reach a turnover of Rs 10,000 crore by FY 2020. We are not stopping here; there will be more announcements soon.” He adds, “Together, we already record a turnover of ` 5,000 crore. Our target is to be the fastest growing and leading aggregators in the travel industry.” Nikhil Shah, Co-Founder & CFO, Multilink, says, “Parag Thakker has a clear roadmap drawn up for the future. With this development, we will go to the next level and grow individually as well as together. It is a win-win situation for all. We are working in many areas together and we have similar products; so there are opportunities for more synergy.”