Tag: MakeMyTrip
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MakeMyTrip to lay off 350 employees
MakeMyTrip is going to lay off 350 employees as an impact of the COVID-19. The laid-off employees will be provided mediclaim coverage for individuals and their families till the end of the year. Leave encashment, gratuity, retaining the right to exercise part of restricted stock units will be allowed. “As we revisited some of our…
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MakeMyTrip gets 73.5 Cr from its Mauritius entity amid the COVID outbreak
Gurugram-based online travel firm MakeMyTrip has raised INR 73.5 Cr in two tranches from Mauritius-based entity — MakeMyTrip Limited. The development comes amid the current coronavirus outbreak, where the travel and hospitality are the worst affected sectors. According to the ministry of corporate affairs (MCA) filings accessed by, MMT has raised INR 37 Cr on…
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MakeMyTrip To Acquire Rival Ibibo Group In An Equity Deal
In the biggest consolidation move in the online OTA space in India, online travel firm MakeMyTrip has agreed to buy the rival Ibibo Group, which is co-owned by South African technology group Naspers Ltd and Chinese investment firm Tencent. Naspers and Tencent jointly held a 91% and 9% stake in Ibibo respectively. Additionally, prior to…
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MakeMyTrip Launches Its Budget Hotel Brand Value+
Online travel booking portal MakeMyTrip has launched its own brand of budget rooms Value+, days after blocking OYO Rooms and Zo Rooms from its portal. Last month, Goibibo, Yatra and MakeMyTrip blocked OYO Rooms and Zo Rooms to protect their turf. After that Goibibo launched its GoStays which is same as Value+. Value+ hotels provide…