MakeMyTrip’s Kalra, Flipkart’s Binny Bansal & others back AI fund pi Ventures

pi VenturesEarly-stage venture fund pi Ventures has announced the first close of its maiden fund at $13 million, with technology entrepreneurs such as former Infosys CFO and Aarin Capital chairman TV Mohandas Pai, Flipkart’s Binny Bansal, MakeMyTrip’s Deep Kalra and Info Edge’s Sanjeev Bikchandani, and angel investor Bhupen Shah, backing it, among others. The fund has […]

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Competition Commission of India clears MakeMyTrip-ibibo merger

The proposed merger of online travel agencies MakeMyTrip Ltd and ibibo Group has inched closer to completion with the Competition Commission of India approving the transaction. MakeMyTrip received a letter from the anti-trust watchdog clearing the merger on Friday, the NASDAQ-listed company said in a filing to the US Securities and Exchange Commission. MakeMyTrip and […]

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MakeMyTrip chairman Deep Kalra urges India’s startup community to come together

deep-karla_feDeep Kalra, chairman of India’s largest online travel services firm MakeMyTrip Ltd, has emphasised that the Internet companies need to have a consensus on policies, practices, and standards. “There is an urgent need for the industry to come together and have a cohesive voice. On a single issue, there are different voices that go out,” […]

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MakeMyTrip Q2 revenue rises 27%, loss triples

ThinkstockPhotos-164176162MakeMyTrip Ltd, India’s largest online travel services firm, on Wednesday reported a 27% rise in revenue for the second quarter thanks to strong growth in both air ticketing and hotel booking businesses. The NASDAQ-listed company said revenue for the quarter through September increased to $83.1 million from $65.5 million a year earlier. Net loss, however, […]

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MakeMyTrip, goibibo and redBus brands will co-exist, says Ashish Kashyap

Rajesh-Magow-and-Ashish-Kashyap3In February 2000, MakeMyTrip founder Deep Kalra walked out of eVentures’ office near Churchgate station in Mumbai as he was not happy with the valuation that Neeraj Bhargava, managing partner of eVentures India, offered his startup. But on his way to the airport, Kalra had a second thought. He picked up his phone and called […]

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MakeMyTrip and ibibo to merge in big consolidation in OTA space

IBIBO-MMTNASDAQ-listed MakeMyTrip Ltd and ibibo Group, which is co-owned by South African technology group Naspers Ltd and China’s Tencent, have agreed to combine their business in the biggest consolidation move in the online travel agency (OTA) business in India. MakeMyTrip is already the largest OTA in the country and the merger will strengthen its position […]

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VCC@10: Entrepreneurship risks have reduced, but startup mortality rate rising

India’s entrepreneurial ecosystem has matured in the last 10 years. Many well-paid individuals are taking the entrepreneurial plunge as the risks associated with building a startup have greatly diminished. Entrepreneurs are being bankrolled upfront by some of the world’s best names. The good news is that many startups are delivering differentiated customer experience. Yes, investors […]

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