Travelguru May Get $15 Million From Battery Ventures, Sequoia
Online travel portal Travelguru may rake in $15 million in its second round of funding, reports The Economic Times. Battery Ventures will lead the round with $8-10 million, joined by the existing investor Sequoia Capital India who will put in the rest of the capital. An announcement is expected only next week or so. Travelguru is a Harvard Business School project which got funded by Seqouia Capital India early last year. The company had received $10 million in its first round of funding.
Now it’s all about cash power since the travel portals are burning money to acquire customers. MakeMyTrip, the market leader in this space, recently raised its second round of venture funding of $10-12 million from Helion Ventures, Sierra Ventures and also the existing investor SAIF Partners.
ClearTrip.com and Yatra.in are the other VC-funded online travel companies, and it’s likely they may also go in for their second round soon.
Posted In: Money, M&A & Venture Capital, Venture Capital
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Comments (3)
Nov 27, 2006 6:53 AM
is acquiring customers all about the level of spends?? most might think so…but try buying a ticket on most of the online sites. can be a painful experience. also, there are frequent complaints and transactions not being confirmed, tickets not received etc….site stability, safety and usability might take priority once users with no brand loyalty figure out that the prices are more or less the same on all the sites.
Nov 27, 2006 8:35 AM
Honestly, I am yet to buy a ticket on a third party aggregator site…
Apr 11, 2007 7:25 AM
TravelGuru is a fraud, It offers the most expensive deals that others (ClearTrip / Yatra).
Recently they started a Cask Back Scheme on Master Card booking. I have done a booking for my family under the cash back scheme using my Cr Card. And now the TravelGuru is saying that the Cash Back Offer is valid only is the Cr Card Holder is a passenger for the booking made. So, how a dependent family of a person would travel? Are not they eligible to fly cheap?