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TBO Tek Limited
editTBO Tek limited is a b2b travel distribution platform founded in 2006. Company headquarter is in Gurugram India. It connects travel suppliers, such as hotels and airlines, with travel buyers. It offers technology solutions to a network of travel agencies and hotel properties across more than 110 countries. Its public debut on the stock market in June 2024.[1], marking a significant milestone in the company's growth trajectory.
 | |
| Company type | Public |
|---|---|
| Industry | Online travel |
| Founded | 2006 |
| Headquarters | Gurugram, Haryana |
| Products | Hotels, Rail Europe, Packages, Cargo, Transfers, Air, Insurance |
| Services | TBO Holidays, TBO APIs, TBO Academy, Paxes, Zamzam |
Number of employees | 2000+ |
| Website | tbo |
History
editTBO Tek Limited's journey began in 2006[2] when Gaurav Bhatnagar and Ankush Nijhawan co-founded the company under the name Tek Travels Private Limited (TBO). In 2011, it established its first subsidiary, Tek Travels DMCC[3].
By 2017-2018, TBO had achieved impressive growth, reaching an annual business Gross Transaction Value (GTV) of USD 1.05 billion (approximately ₹ 67,000 million). In 2018, Standard Chartered Private Equity (SCPE) acquired the stake held by MIH India Holdings Limited[4]. The following year saw TBO expand its portfolio by acquiring the business website islandhopper and clickitbookit from Orange Tourism Solutions Private Limited[5].
The year 2020 marked the launch of TBO Cargo, a new subsidiary[6]. Further expansion came in 2021 with the acquisition of Gemini Tours and Travels' travel business[7], including insurance policies, goodwill, and intellectual property. Additionally, TBO formed TBO LLC as an indirect subsidiary in the USA and established Zamzam[8], a joint venture online portal facilitating Umrah bookings.
TBO continued its diversification efforts in 2021 by launching Paxes[9], a Saas-based platform catering to corporates and travel management companies for managing business travel. The same year witnessed a name change – first to TBO Tek Private Limited and then to its current form, TBO Tek Limited, after converting into a public company[10].
TBO's growth trajectory continued in 2023 with the full acquisition of Bookabed[11], Ireland's travel distribution platform. This comprehensive overview chronicles TBO Tek Limited's evolution from its initial founding to its current position as a prominent player in the travel technology sector.
Acquisitions
editTBO Tek Limited has engaged in strategic acquisitions to expand its market reach and service offerings.
In 2021, the company acquired the travel business of Gemini Tours and Travels India, strengthening its position in the domestic market[7][12].
In Dec 2023 TBO Tek Limited acquired Spanish firm Jumbo Tours Group[13].
TBO Tek Limited fully acquired Bookabed AG, an Ireland-based travel distribution platform, in 2023[14]
Demonstrating its commitment to fostering innovation, the company made a seed investment in Hotelzify[15], a Bangalore-based startup catering to small accommodation providers and hoteliers, in the same year.
Product and Services
editIt's product and service covers the most of segments in travel industry.
Hotels, Rail Europe, Packages, Cargo, Transfers, Air, Insurance, etc. It provides travel solutions such as TBO Holidays, TBO APIs, TBO Academy, Paxes, Zamzam, etc.
Management
edit| Name | Designation |
| Ankush Nijhawan | Joint Managing Director |
| Anuranjita Kumar | Independent Director |
| Bhaskar Pramanik | Independent Director |
| Gaurav Bhatnagar | Joint Managing Director |
| Neera Chandak | Co. Secretary & Compl. Officer |
| Rahul Bhatnagar | Independent Director |
| Ravindra Dhariwal | Chairman & Ind.Director |
| Udai Dhawan | Non Exe. & Nominee Director |
| Vikas Jain | Chief Financial Officer |
References
edit- ^ Ranjan, Vaibhavi (15 May 2024). "TBO Tek arrives in style, lists at 55% premium on market debut". Network18_Group#Digital_and_publishing_divisions.
{{cite web}}: CS1 maint: url-status (link) - ^ "TBO Tek Limited IPO: Check issue size, listing date, other details". India Today. 2024-05-02. Retrieved 2024-07-22.
- ^ "Tek Travels DMCC - Company Profile - Tracxn". tracxn.com. 2024-07-17. Retrieved 2024-07-22.
- ^ "Standard Chartered Private Equity to acquire stake in TBO Group". Financialexpress. 2018-07-20. Retrieved 2024-07-22.
- ^ "TBO Acquires Jumbo Tours Group's Online Business for €25 Million". Rediff. Retrieved 2024-07-22.
- ^ www.ETTravelWorld.com. "TBO Group diversifies into cargo - ET TravelWorld". ETTravelWorld.com. Retrieved 2024-07-22.
- ^ a b www.ETTravelWorld.com. "TBO Group acquires leading consolidator for Maldives in the Indian market - ET TravelWorld". ETTravelWorld.com. Retrieved 2024-07-22.
- ^ "Zamzam.com launches B2C visa services for Umrah pilgrims". Arab News. Retrieved 2024-07-22.
- ^ "TBO Tek to Launch Corporate Travel Booking Platform 'Paxes' | Travel Trends Today". 2022-10-06. Retrieved 2024-07-22.
- ^ "TBO Tek shares make a strong market debut; stock list at 55% premium on NSE". Business Today. 2024-05-15. Retrieved 2024-07-22.
- ^ "TBO acquires 100% of B2B travel platform BookaBed". gulfnews.com. 2023-02-07. Retrieved 2024-07-22.
- ^ "TBO Group acquires Gemini Tours & Travels - Hotelier India". Hotelier India. 2021-06-01. Retrieved 2024-07-22.
- ^ "General Atlantic-backed TBO Tek acquires Spanish firm Jumbo's online business". VCCircle. Retrieved 2024-07-22.
- ^ www.ETTravelWorld.com. "TBO's subsidiary acquires majority stake in Swiss B2B accommodation supplier Bookabed - ET TravelWorld". ETTravelWorld.com. Retrieved 2024-07-22.
- ^ Dawes, Justin (2023-05-26). "Faye Raises $10 Million for Travel Insurance App: Startup Funding Roundup". Skift. Retrieved 2024-07-22.