Yatra (company)

Last updated

Yatra
Company type Public
Industry Online travel agency
Founded1 August 2006 (2006-08-01)
Founders
  • Dhruv Shringi
  • Manish Amin
  • Sabina Chopra [1]
Headquarters Gurgaon, Haryana, India
Key people
  • Dhruv Shringi (CEO)
  • Manish Amin (CIO)
  • Yumnam Prabhakar Singh (COO - Corporate Hotels)
Products Flights, hotels, holidays, trains, buses
ServicesTravel booking
RevenueIncrease2.svg422 crore (US$51 million) (FY24) [2]
Decrease2.svg53 crore (US$6.4 million) (FY24) [2]
Decrease2.svg−4.5 crore (US$−540,000) (FY24) [2]
Website www.yatra.com

Yatra.com is an Indian online travel agency and travel search engine. It was founded by Dhruv Shringi, Manish Amin and Sabina Chopra in August 2006. [3]

Contents

History

In April 2012, it became the second-largest online travel service in India, with a 30 percent share of the 370 billion (US$4.4 billion) market for online travel-related transactions. [4] It launched “holiday-cum-shopping card” with State Bank of India (SBI). [5]

In September 2013, Yatra.com suffered a data breach of more than 5 million users records, exposing email and physical addresses, dates of birth and phone numbers along with both PINs and passwords stored in plain text. [6]

In November 2013, Yatra.com launched e-gift cards in collaboration with Qwikcilver. [7]

In January 2016, Yatra.com appointed Vikrant Mudaliar as a chief marketing officer. He previously served as chief sales and marketing officer at Lenskart.com. [8] It was publicly listed on the NASDAQ under the ticker symbol "YTRA" in December of the same year. [9]

In July 2019, Ebix, a US-based company, planned to acquire Yatra.com [10] but the acquisition was cancelled in June 2020. [11]

In June 2020, Yatra.com announced an underwritten public offering at $11.5 mn [12] and laid off about 400 employees around the same time. [13]

In June 2021, Yatra collaborated with Oyo Rooms, Airbnb, and EaseMyTrip to form the Confederation of Hospitality, Technology and Tourism Industry (CHATT), an industry body for the tourism sector of India. [14]

In 2023, Yatra Online listed on the Indian stock exchanges after its initial public offering. [15]

Acquisitions

Yatra.com made three acquisitions: ticket consolidator Travel Services International (TSI) in October 2010, [16] global distribution system provider Magicdom [17] and Indian events and entertainment portal BuzzInTown. [18] All were acquired for undisclosed amounts. [19] [20] In July 2012, Yatra.com acquired a 100% stake in Travelguru. [21] In 2016, Yatra.com [22] acquired-hired Mumbai-based Travel-logs.in, which specializes in customized city walks and private tours. [23]

In September 2024, Yatra announced the acquisition of Globe Travels for Rs 128 crore to strengthen its leadership in the corporate travel sector. [24]

Collaboration

Investors

Early investors included Reliance Venture Asset Management Ltd, [26] Web18 of TV18 Group (a subsidiary of Network 18), Norwest Venture Partners and Intel Capital. [27] In April 2011, it announced funding of 2 billion (US$24 million) from investors including Valiant Capital Management, Norwest Venture Partners (NVP) under Promod Haque's management and Intel Capital. [28]

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References

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