MakeMyTrip plans to invest in HolidayIQ

According to a report by Pooja Sarkar and Ashna Ambre for Mint, MakeMyTrip Ltd. is in talks with Bengaluru-based holiday information company Leisure and Lifestyle Information Services Pvt. Ltd., which owns and operates online portal HolidayIQ.com, for a nearly USD 30-million investment, said two people familiar with the development. The move is in keeping with the company’s articulated strategy of buying out or acquiring stakes in travel-related start-ups in South-East Asia.

“The investment is expected in a month’s time,” said the first person mentioned above. Last September, MakeMyTrip set up an innovation fund of USD 15 million to invest in start-ups. In January this year, it bought a 25 per cent stake in Bengaluru-based digital hotel marketing solutions firm, Simplotel, using money from the innovation fund.
Following that deal, in April it acquired the assets of intuitive travel planning website, Mygola.com.

Between 2011 and 2014, MakeMyTrip either completely bought out or acquired stakes in five companies in South-East Asia and India. For the year ending March 31, 2015, MakeMyTrip reported revenue of USD 299 million.
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