Yatra (company)

Yatra is an Indian online travel agency and travel search engine.

History

Yatra.com was founded by Dhruv Shringi, Manish Amin and Sabina Chopra in August 2006.[3]

Early investors included Reliance Venture Asset Management Ltd,[4] Web18 of Network18 Group (a subsidiary of Reliance Industries), Norwest Venture Partners and Intel Capital.[5] In April 2011, it announced funding of inr 2000000000 from investors including Valiant Capital Management, Norwest Venture Partners (NVP) under Promod Haque's management and Intel Capital.[6]

In April 2012, it became the second-largest online travel service in India, with a 30 percent share of online travel-related transactions.[7] It launched “holiday-cum-shopping card” with State Bank of India (SBI).[8]

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.[9]

In November 2013, Yatra.com launched e-gift cards in collaboration with Qwikcilver.[10]

In December 2016, Yatra.com was publicly listed on the NASDAQ under the ticker symbol "YTRA".[11]

In July 2019, Ebix, a US-based company, planned to acquire Yatra.com[12] but the acquisition was cancelled in June 2020.[13]

In June 2020, Yatra.com announced an underwritten public offering at $11.5 mn[14] and laid off about 400 employees around the same time.[15]

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.[16]

In 2023, Yatra Online listed on the Indian stock exchanges after its initial public offering.[17]

Acquisitions

Yatra acquired ticket consolidator Travel Services International (TSI) in October 2010,[18] global distribution system provider Magicdom[19] and Indian events and entertainment portal BuzzInTown.[20] All were acquired for undisclosed amounts.[21][22] In July 2012, Yatra.com acquired a 100% stake in Travelguru.[23] In 2016, Yatra.com [24] acquired-hired Mumbai-based Travel-logs.in, which specializes in customized city walks and private tours.[25]

In September 2024, Yatra announced the acquisition of corporate travel company Globe Travels for ₹128 crore.[26]

External links