We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Paytm Bets Big On Travel, Looks To Acquire Sequoia Backed Via.com

7 8 0
19.09.2017

Advertisement

Advertisement

One97 Communications, the parent company of Paytm, is reportedly in talks to acquire Bengaluru-based online travel company Via.com. The acquisition will be in a bid to strengthen the travel and hospitality services offered by Paytm.

As per a recent ET report, sources in the know confirmed that the Noida-based company has held preliminary discussions although a term-sheet is yet to be signed. If the acquisition goes through Via.com could potentially be valued at up to $80 Mn for the sale.

Paytm claims to have sold 10 Mn tickets in FY 2017. The travel marketplace team is headquartered in Bengaluru and has about 150+ members in the last 12 months. In January 2017, the company’s travel vertical crossed $500 Mn in annualised GMV. It currently offers a range of travel bookings that include air, bus, train tickets and hotel bookings.

In the past, Paytm has partnered with Booking.com to facilitate accommodation bookings on its online travel marketplace.

A recent Google India-BCG report has projected the overall Indian travel market to reach $48 Bn by 2020 at a CAGR of 11%-11.5%. The report further states that air travel will reach $30 Bn by 2020 growing at 15%. It continues to be the dominating category. It will be closely followed by hotels ($13 Bn) and railways ($5 Bn).

Paytm will........

© Inc42