MakeMyTrip Valued At $50 Million?

Reuters quotes MakeMyTrip founder and CEO Deep Kalra as valuing MMT at $50 million.
Kalra also mentions that MakeMyTrip is planning offline acquisitions, and is looking to raise funds before the end of the year; Again? We had reported over a month ago that MMT has already received between $10-15 million from Helion Venture Partners, Sierra Ventures and SAIF Partners. Ravi Adusumalli, General Partner at SAIF Partners and also a board member at MMT, had confirmed the development.
For MakeMyTrip, the retail expansion certainly seems to be an expensive proposition, lest they’re looking to tie-up with current offline players. Also, how difficult a proposition is it for offline travel agents to go online to compete with the likes of MMT? In other (related) news, I just heard that airlines in India are planning to increase prices, though marginally by 3-5%.
Related:
Exclusive: MakeMyTrip Gets $10-15 Million From Helion Venture, Sierra And SAIF Partners
MakeMyTrip.com Plans IPO After 2008

Comments have been disabled for this post