India: MakeMyTrip acquires majority stake in Quest2Travel.com

Online travel company MakeMyTrip Ltd on Tuesday announced that it has acquired a majority stake in Mumbai-based Quest 2 Travel.com India Pvt Ltd (Q2T), an internet based corporate travel management company.

Financial details of the deal were not disclosed.

“This investment will help us extend our service offerings to large corporates for their travel requirements while helping Quest2Travel benefit from the travel expertise and depth of supplier relationships that MakeMyTrip has forged over the years. With this investment we are making a decisive foray into providing travel solutions for corporate customers as well,” Deep Kalra, Founder & Group CEO, MakeMyTrip said.

Founded in 2000, Q2T’s enterprise software helps large corporate clients manage their end-to-end employee travel needs on a real-time basis. Its online booking platform offers the entire workflow of travel procurement, including an employee’s travel request approval, corporate policy compliant online booking, invoice generation, expense management, reimbursement and final invoice settlement.

Commenting on the acquisition, Abhay Rangnekar, founder and CEO of Q2T said, “Amongst other benefits, it will help us offer superior service offerings with wider inventory and better pricing for air, hotel bookings and other employee travel services.”

Q2T counts some of the large Indian corporates including Tata Motors, Aditya Birla Group, Times Group, HDFC Ergo and Thermax among its clients.

Nasdaq-listed MakeMyTrip offers services and products including air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, rail ticketing, bus ticketing, car hire and ancillary travel requirements, among others. It also owns Goibibo and redBus brands.

Recently, China’s Ctrip, the world’s second largest online travel company, increased its ownership in MakeMyTrip to 49 per cent, paving an exit for early investor South Africa-based media group Naspers Limited.

Also Read:

China’s Ctrip increases stake in MakeMyTrip to 49%, Naspers exits

MakeMyTrip attempts to juggle between growth and profitability

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.