MakeMyTrip Eyes More Acquisitions
INDIA’s poster child OTA, MakeMyTrip, is on a prowl to buy more companies, having done three M&As since its blockbuster IPO on NASDAQ in 2010.
Founder & CEO Deep Kalra outlined three “buckets of M&As” when asked by TTG Asia about his strategy.
So far, the three companies bought by MakeMyTrip are disparate businesses: a 79 per cent stake in Luxury Tours & Travel Singapore; 29 per cent in Delhi-based My Guest House Accommodations, a portal focusing on budget accommodation in India; and 19.9 per cent in Ixigo, a leading travel meta search engine in India.
The first bucket enables MakeMyTrip to gain direct access to suppliers, such as its acquisition of Luxury. Kalra believes there is still a lot of potential to do more M&As in South-east Asia, “as that’s where Indians travel to”.
The second opens new customer segments for the company, such as its acquisition of My Guest House Accommodations.
The third bucket comprises niche travel technology players, like Ixigo.
Source: TTG Asia