Online Travel Company MakeMyTrip.com Gets $10 Million Funding

Exchange4Media.com: MakeMyTrip.com, India’s leading online travel company, has secured an investment of $10 million from the SoftBank Asia Infrastructure Fund (SAIF), a leading Asian private equity firm, in an effort to pursue an aggressive organic and acquisition based strategy.
Announcing the investment deal, Deep Kalra, Founder and CEO, MakeMyTrip.com, said, “The investment of $10 million is testimony to the inherent potential of the online travel industry in India and MakeMyTrip’s proven abilities.”
Ravi Adusumalli, General Partner with SAIF said, “The Indian travel industry, driven by rising income levels and increasing competition, presents a compelling opportunity for MakeMyTrip to capitalise on.”
MakeMyTrip.com has recorded gross revenues of $20 million in the last financial year, and has been profitable for the last two years. With a projected annual growth rate of 150 per cent, the company plans to reach revenues of $50 million by the end of the current fiscal year.

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