Yatra.com acquires events portal Buzzintown.com
This is Yatra.com’s third major acquisition in the last 15 months, following the purchase of TSI in October 2010 and MagicRooms in June 2011
Online travel company Yatra.com has acquired events and entertainment portal Buzzintown.com for an undisclosed amount. Buzzintown will continue to operate under the same brand name. This is Yatra.com’s third major acquisition in the last 15 months, following the purchase of TSI in October 2010 and MagicRooms in June 2011.
Buzzintown provides listings, content, deals and services across numerous events and happenings in the world.
Commenting on the acquisition, Dhruv Shringi, Co-founder and CEO, Yatra.com, said, “Acquiring Buzzintown reinforces our growth strategy and belief in the strong growth of the Indian online industry. This new development is in line with our strategic intent of building deeper relationships with our customers by catering to their ‘in-destination’ lifestyle and entertainment needs. Buzzintown will enable Yatra.com to provide its customers an enhanced experience by sourcing special deals for the destinations they are traveling to. Our focus is on increasing our portfolio of Internet services for our customers and investing in product development and innovation through both organic and inorganic means.”
Amitabh Saran, who will continue as CEO of Buzzintown.com, added here, “We get millions of visitors with a common interest for alternate options of entertainment, where a large majority of these surfers like to be outdoors and explore newer destinations. With this acquisition, Buzzintown.com customers will now be able to plan and book their travel with Yatra.com.”
The new acquisition will allow Yatra.com to expand its customer base by adding over 3 million registered users of Buzzintown.com. With presence in over 19 Indian cities and 16 cities across the US and Canada, Buzzintown.com will catalyse expansion of Yatra.com portfolio, giving customers the access to services beyond travel. As an entertainment hub, Buzzintown.com provides India’s widest array of events, including videos, venue details, artiste profiles, groups, and other stakeholders of the event industry.
Previously, Yatra.com had acquired ticket consolidator Travel Services International Pvt Ltd (TSI) to strengthen its foray into the B2B consolidation space. In July 2011, Yatra.com acquired hotel aggregation company, MagicRooms, offering access to a live inventory of over 3,000 hotels across India.
Yatra.com is backed by Promod Haque’s Silicon Valley-based Norwest Venture Partners (NVP), Reliance Anil Dhirubhai Ambani Group’s Reliance Capital, Raghav Bahl-promoted Network18, and Intel Capital, the strategic investment arm of Intel.
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