Yatra (company)

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Yatra
Company typePublic
IndustryOnline travel agency
Founded1 August 2006 (2006-08-01)
Founder
  • Dhruv Shringi (CEO)
  • Manish Amin (CIO)
  • Yumnam Prabhakar Singh (COO - Corporate Hotels)
HeadquartersGurugram, Haryana, India
ProductsFlights, hotels, holidays, trains, buses
ServicesTravel booking
RevenueIncrease ₹380 crore (US$48 million) (FY23)[1]
Increase ₹7.6 crore (US$950,000) (FY23)[1]
Websitewww.yatra.com

Yatra.com is an Indian online travel agency and travel search engine. It is based in Delhi NCR. It was founded by Dhruv Shringi, Manish Amin and Sabina Chopra in August 2006.[2]

History

In April 2012, it became the second-largest online travel service in India, with a 30 percent share of the ₹370 billion (US$4.6 billion) market for online travel-related transactions.[3] It launched “holiday-cum-shopping card” with State Bank of India (SBI).[4]

In September 2013, Yatra.com suffered a data breach of more than 5 million users records, exposing email and physical addresses, dates of birth and phone numbers along with both PINs and passwords stored in plain text.[5]

In November 2013, Yatra.com launched e-gift cards in collaboration with Qwikcilver.[6]

In January 2016, Yatra.com appointed Vikrant Mudaliar as a chief marketing officer. He previously served as chief sales and marketing officer at Lenskart.com.[7] It was publicly listed on the NASDAQ under the ticker symbol "YTRA" in December of the same year.[8]

In July 2019, Ebix, a US-based company, planned to acquire Yatra.com[9] but the acquisition was cancelled in June 2020.[10]

In June 2020, Yatra.com announced an underwritten public offering at $11.5 mn[11] and laid off about 400 employees around the same time.[12]

In June 2021, Yatra collaborated with Oyo Rooms, Airbnb, and EaseMyTrip to form the Confederation of Hospitality, Technology and Tourism Industry (CHATT), an industry body for the tourism sector of India.[13]

In October 2023 : Yatra.com posts Q2 profit at Rs 5.99 crore, revenue up 23.9% on-year[14]

Acquisitions

Yatra.com made three acquisitions: ticket consolidator Travel Services International (TSI) in October 2010, global distribution system provider Magicdom and Indian events and entertainment portal BuzzInTown. All were acquired for undisclosed amounts.[15][16] In July 2012, Yatra.com acquired a 100% stake in Travelguru.[17] In 2016, Yatra.com [18] acquired-hired Mumbai-based Travel-logs.in, which specializes in customized city walks and private tours.[19]

Investors

Early investors included Reliance Venture Asset Management Ltd,[20] Web18 of TV18 Group (a subsidiary of Network 18), Norwest Venture Partners and Intel Capital.[21] In April 2011, it announced funding of ₹2 billion (US$25 million) from investors including Valiant Capital Management, Norwest Venture Partners (NVP) under Promod Haque's management and Intel Capital.[22]

References

  1. ^ a b "Yatra Online's IPO opens for subscription on September 15". The Times of India. 14 September 2023. Archived from the original on 18 September 2023. Retrieved 28 September 2023.
  2. ^ Jagmohan Bhanver; Komal Bhanver (25 March 2017). CLICK!: The Amazing Story of India's E-commerce Boom and Where It's Headed. Hachette India. pp. 69–. ISBN 978-93-5195-028-8. Archived from the original on 15 September 2020. Retrieved 16 December 2020.
  3. ^ "..two important stakeholders in online travel,." Business Standard. 25 April 2012. Archived from the original on 26 April 2012. Retrieved 2 May 2012.
  4. ^ "Yatra.Com launches holiday-cum-shopping credit card with SBI". BUsiness Standard. 2 April 2012. Archived from the original on 9 May 2012. Retrieved 2 May 2012.
  5. ^ "Have I Been Pwned: Pwned websites". haveibeenpwned.com. Archived from the original on 3 October 2015. Retrieved 27 June 2023.
  6. ^ "Yatra.com launches e-gift card" The Hindu Business Line, 27 November 2013
  7. ^ "Yatra.com hires LensKart's Vikrant Mudaliar as chief marketing officer" Archived 12 May 2016 at the Wayback Machine The Economic Times, 20 January 2016
  8. ^ "Yatra.com to list on NASDAQ via reverse merger with US-based blank cheque firm". VCCircle. 14 July 2016. Archived from the original on 7 October 2021. Retrieved 7 October 2021.
  9. ^ "US-based Ebix buys online travel portal Yatra.com". @businessline. Archived from the original on 18 July 2019. Retrieved 18 July 2019.
  10. ^ "Yatra's failed merger with Ebix dents the company's earnings in an already troubled quarter". Business Insider. Archived from the original on 7 October 2021. Retrieved 7 October 2021.
  11. ^ "Yatra Closes $11.5 Mn Public Offering After Cancelling Ebix Merger". Inc42 Media (in Latin). 25 June 2020. Archived from the original on 14 August 2020. Retrieved 26 June 2020.
  12. ^ "After fall out of the deal with Ebix, Yatra lays off 400 employees". Entrackr. 23 June 2020. Archived from the original on 28 June 2022. Retrieved 26 June 2020.
  13. ^ Alawadhi, Neha (9 June 2021). "CHATT: New association announced, will help tourism, hospitality with tech". Business Standard India. Archived from the original on 7 October 2021. Retrieved 7 October 2021.
  14. ^ "Yatra.com posts Q2 profit at Rs 5.99 crore, revenue up 23.9% on-year". Financialexpress. 16 October 2023. Archived from the original on 24 October 2023. Retrieved 30 November 2023.
  15. ^ Yatra acquires events and entertainment portal Buzzintown.com Archived 4 March 2016 at the Wayback Machine afaqs.com.
  16. ^ "Yatra.com acquires events portal Buzzintown.com". Archived from the original on 19 February 2014. Retrieved 3 February 2016.
  17. ^ afaqs! news bureau (2 July 2012). "Yatra.com acquires 100 percent stake in Travelguru". afaqs.com. Noida, India: afaqs!. Archived from the original on 28 May 2016. Retrieved 16 May 2016.
  18. ^ "Lack Of Cash Flow, Demand For Refunds Hit Indian OTA Segment". Inc42 Media. 12 May 2020. Archived from the original on 6 June 2020. Retrieved 19 May 2020.
  19. ^ "Yatra acqui-hires travel-logs to boost tours within cities" Archived 30 May 2016 at the Wayback Machine The Economic Times, 20 January 2016
  20. ^ "Our Portfolio". Reliance Venture. Archived from the original on 3 May 2012. Retrieved 2 May 2012.
  21. ^ "Yatra Investors - Yatra.com". Yatra.com. Archived from the original on 6 June 2015. Retrieved 3 February 2016.
  22. ^ "Yatra.com receives Rs 200 crores in funding to fuel growth". afaqs. 20 April 2011. Archived from the original on 25 September 2018. Retrieved 29 April 2012.

External links

  • Company homepage
  • Business data for Yatra Online, Inc.:
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