Business Standard: Finally, Cleartrip.com, an online travel company, has come out of the stealth mode. It has made an official announcement of the investment from Kleiner Perkins Caufield & Byers and Sherpalo Ventures. They will also launch operations from July 4. The amount of investment is not revealed. According to earlier reports, they were believed to have put in $3 million. It may be recalled that the two VC funds vehemently denied media reports of investment in Cleartrip in February.
BS report says “the two VCs will be holding a minority stake in the company, with the maximum sum to come from the founders of the company – Stuart Crighton, Hrush Bhatt and Mathew Spacie”. The officiating CEO of Cleartrip is Sandeep Murthy (in the pic), who is actually the representative of Sherpalo and Kleiner Perkins in India. Murthy hopes Cleartrip to be profitable in three years.
Kleiner and Sherpalo have also invested a little less that $5 million in Naukri.com.
Kleiner Perkins Makes First Investment In India; Invests $2.7-3 Million In Cleartrip.com