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Ibibo Group is an online travel organization founded in January 2007 by Ashish Kashyap. The company is a subsidiary of MakeMyTrip Limited, Mauritius which owns an 100% stake in Ibibo Group.

Ibibo Group
Private
Industry Online Travel
Founded 2007 (2007)
Founder Ashish Kashyap
Headquarters Gurgaon, Haryana, India
Products Flight bookings, Hotel and Holiday bookings, Bus bookings, Train bookings
Website ibibo.com

The group owns the B2C online travel aggregator Goibibo, and online bus ticketing platform Redbus.in. In 2013, ibibo Group was named one of the top five most trusted e-commerce brands in India in The Brand Trust Report India Study – 2013.[1]

On January 31, 2017, MakeMyTrip made a strategic combination with the ibibo Group by way of an acquisition of 100% equity interest in the ibibo Group from MIH Internet, an indirect subsidiary of Naspers, pursuant to a Transaction Agreement dated October 18, 2016.

Contents

HistoryEdit

Ibibo started as a social networking service in 2007,[2] and later changed to become an e-commerce and travel organization. In 2009 Goibibo.com was launched.[3]

Acquisition and investmentsEdit

Goibibo.comEdit

Goibibo was launched in 2009 and is part of ibibo Group. It was co-founded by Sanjay Bhasin (Pass out SP Jain) and Vikalp Sahni (Pass out NIT Silchar).[4] Goibibo is India’s largest hotels aggregator and also one of the leading air aggregator. Goibibo's core value differentiator is delivery of the fastest and the most trusted and reliable user experiences. Goibibo is also the number one ranked mobile app under the travel category. Goibibo.com was awarded 'The Best Tech Travel Aggregator Brand Award 2015[5] by The Economic Times.

PayU IndiaEdit

In 2011, Ibibo rolled out its payment gateway innovation called PayU in the Indian market, to permit websites to integrate e-commerce transactions through online payments.[6] With PayU, a business can process payment by using credit cards and debit cards (for more than 50 banks), and online banking for banks including ICICI, HDFC, SBI, and Axis Bank. PayU provides an API for integration and transaction analytics to improve the speed and security of payment processing.PayU India launched of a first-of-its kind premium deferral payment facility for consumers 'LazyPay' aimed at those who transact digitally for any amount between Rs 500 and Rs 2,500 and is an option to pay later.[7]

redbus.inEdit

Redbus.in became a part of ibibo group via a 100% acquisition in June 2013.[8][9] redBus is India’s Number One online bus ticketing platform, both on mobile and on desktop. The business also owns BOGDS, a cloud computing service for bus operators, and SeatSeller, a GDS for bus inventory distribution.

redBus has been rated the most trusted brand in the online travel category and the 13th most trusted internet brand in the overall rankings as per the Brand Trust Report, India Study 2015.[10] It also won an award for being ‘The Most Trusted Brand’ by IBC InfoMedia in 2015. In March 2014 it won the 'Global Mobile Innovation in Travel Award’[11] announced by Eyefortravel.

YourBusEdit

In March 2014 ibibo Group acquired Bangalore-based bus tracking startup YourBus.[12] YourBus, founded by BITS-Pilani graduates Rajesh Mallipeddi and Satya Padmanabham in 2011,[13] is a GPS-based bus tracking and analytics platform. The YourBus application on a smartphone shows users the location of a bus in real time on a map. It also tells users the arrival time at their pickup point, with SMS updates.[14]

DjuboEdit

In August 2015 ibibo Group bought a minority stake in cloud-based hotel services startup Djubo for an undisclosed amount.[15] Djubo, founded in February 2015 by Tarun Gulati and Sankalp Goel, manages hotel bookings for over 100 hotels through a single interface.

redbus.pe and redbus.coEdit

In July 2016 Redbus acquired Peru-based bus tracking startup Busportal. In 2017 they founded a chapter of Redbus in Colombia.

MakeMyTrip & ibibo Group MergerEdit

In October 2016, India based online travel company MakeMyTrip, a Nasdaq listed firm and ibibo Group [16], India's largest travel group agreed to merge in a stock transaction, to form the country’s biggest online travel company[17][18]

Awards and recognitionEdit

Goibibo
Year Name of Award Awarded by
2015, 2014 Best Website in the category of Online Travel and Leisure Website of the Year
2015 India's No.1 Brand in the category of Online Travel and Leisure Business Standard
2015 Best Tech Travel Aggregators Brand The Economic Times
2016 Silver in the category of Travel and Holidays Businessworld Golden Cart
redbus
Year Name of Award Awarded by
2014 mBillionth South Asia Award and Global Mobile Innovation Evefortravel
2015 Most Trusted Brand (Online Travel Category) and 13th Most Trusted Internet Brand (overall) The Brand Trust Report, India Study
2015 Most Trusted Brand IBC InfoMedia
2016 Bronze Award for the redbus annual calendar The Bangalore Big Bang Awards
2017 Bronze Award (Effective Use of Consumer Feedback category) ACEF Customer Engagement
2017 Brand Excellence Award in ecommerce sector ABP News

ReferencesEdit

  1. ^ "Google is most trusted online brand in India, Facebook is second". The Times Of India. 26 February 2013.
  2. ^ "Ibibo.com Launched New Ad Commercial". Business Wire India. 8 January 2008.
  3. ^ "Goibibo.com". CrunchBase.
  4. ^ "Management Team - Goibibo". www.goibibo.com. Retrieved 2018-01-12.
  5. ^ "Best tech brand award". The Economic Times.
  6. ^ "Naspers Launches Payment Gateway PayU In India". MediaNama. 7 October 2011.
  7. ^ "PayU – Payment Gateway for Indian market". iamWire. 7 October 2011.
  8. ^ "redBus sold to Ibibo in one of the biggest overseas internet deals". The Times Of India. 21 June 2013.
  9. ^ "ibiboGroup Acquires redbus.in". Telegraph India. 21 June 2013.
  10. ^ "redBus is the most trusted brand : Brand Trust Report 2015". www.firstreport.in. 2 April 2015.
  11. ^ EyeforTravel (blog). "EyeforTravel: Online Travel Insights".
  12. ^ "ibibo buys Bangalore-based bus tracking startup YourBus". The Times of India. 21 March 2014.
  13. ^ "YourBus integration with RedBus prompted acquisition". LiveMint. 21 March 2014.
  14. ^ "Naspers-Backed ibiboGroup Acquires Online Bus Tracking And Analytics Startup YourBus In India". TechCrunch. 19 March 2014.
  15. ^ "Ibibo Group buys minority stake in cloud-based hotel services Djubo". The Economic Times. 28 August 2015.
  16. ^ Ibibo
  17. ^ "Online travel portals MakeMyTrip and ibibo announce merger". The Economic Times. 20 October 2016.
  18. ^ "MakeMyTrip, ibibo to merge, to become a dominant player". The Times of India. 19 October 2016.

External linksEdit