It was reported that Yatra.com had raised investment of 200 crore from investors like Valiant Capital Management, Norwest Venture Partners (NVP) and Intel Capital. The investment was utilized to modify their marketing and sales activities along with its development of their business and hotel schemes. Now it is reported that, Yatra.com has acquired Hotel aggregation company MagicRooms.
Though the details are still unknown, the acquisition will surely help the travel portal as it is currently facing lot of competition from it’s competitors. This deal is assumed to unite and strengthen online Travel and Hospitality space.
To attract more userbase Yatra.com also launched a service called ‘Cash on Delivery’. Yatra.com also displayed advertisements on it’s site, it also partnered with Yahoo! India utilizing Yahoo’s massive reach. This tie- up led Yatra.com to be featured as Knowledge Partner on Yahoo! Answers for Travel category.
According to the report, MagicRooms had raised 7 crore (USD 1 million) from Nexus Venture. Yatra.com is ranked 3rd among the top 10 travel portal among users, according to Comscore. Some of the competitors of Yatra.com are MakemyTrip.com, Tavelocity, Expedia, etc.