As part of the deal, the entire Mygola team has joined MakeMyTrip
Nasdaq-listed online travel company, MakeMyTrip has acquired Bangalore-based travel planning website Mygola for an undisclosed amount. As part of the deal, the entire Mygola team has joined MakeMyTrip.
This acquisition was done through the company’s Innovation Fund, which was created to invest in startup or early-stage companies in the travel technology space.
Mygola, founded by Anshuman Bapna and Prateek Sharma in 2009, was launched to make travel planning hassle-free. The mobile app uses technology to curate content — videos, tips from travellers, panoramic views, etc. specific to an individual user’s tastes. The company says that it can help travellers create custom trips in 15 minutes. It covers more than 20,000 destinations worldwide and claims half a million organic visitors a month.
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“I’m incredibly excited to announce that Mygola has agreed to be acquired by MakeMyTrip. It’s been a remarkable journey that we set out on five years ago to truly solve travel planning. There’s a long road still ahead for us. We’re hiring aggressively in our Bangalore office,” said Bapna, Co-Founder of Mygola.
Mygola raised funding from Helion Venture Partners in 2013 and prior to that, the startup secured investments from the US-based 500 Startups, Blumberg Capital and a few angel investors.
The Indian travel segment has been attracting a lot of investor interest and this acquisition by MakeMyTrip is an inorganic expansion move to have a stronger foothold on the mobile segment. In February 2014, the company had acquired EasyToBook Group for US$5 million to strengthen its offerings in Europe, North America and other destinations.
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