MakeMyTrip And Ibibo Is Now Merged
Once again there is a new merger! This time, it is in the travel industry. One of the top travel and ticket booking companies MakeMyTrip and Ibibo has merged. The new company will now be operating under a single brand and that is MakeMyTrip.
The deal has sent shockwaves to the rivals in the segment including Cleartrip and Yatra. ClearTrip, which had recently completed 10 Years of Successful Journey and is been very aggressive in improving their product and services had released a slew of changes to its brand including introducing a new segment for its local Market. On the other hand, Yatra had also made its foray into the local market by targeting Tier 1 and Tier 2 Cities.
The deal has opened up several interesting facts and figures that are worth noting. One of the things being the valuation of the deal; As per Economic times, the deal is valued at $1.8 -2 Billion. This is considered to be the biggest in the travel category.
The entire process of the merger can end during the end of the year and later the new company will operate as MakeMyTrip Brand. The current joint owners of Ibibo, South Africa’s Naspers and China’s Tencent will now become the major stakeholders in the new company.
The merger is a wake-up call to all the rivals in the travel industry as it puts up a stiff competition because of the resource and talent MakeMyTrip has. When compared to the new company all the other rivals are considered to be small in terms of the resource is concerned.
The new company is expected to offer way better quality offers and discounts to the customers because of the experience and the talent that they potentially possess. Now, it’s time to wait and watch how these players respond to the new threat that has emerged in the form of MakemyTrip.