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Yatra (company)

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Yatra is an Indian online travel agency and travel search engine. It was founded by Dhruv Shringi, Manish Amin and Sabina Chopra in August 2006.[3]

Yatra
Company typePublic
IndustryOnline travel agency
Founded1 August 2006; 18 years ago (2006-08-01)
Founders
  • Dhruv Shringi
  • Manish Amin
  • Sabina Chopra[1]
HeadquartersGurgaon, Haryana, India
Key people
  • Dhruv Shringi (CEO)
  • Manish Amin (CIO)
  • Yumnam Prabhakar Singh (COO - Corporate Hotels)
ProductsFlights, hotels, holidays, trains, buses
ServicesTravel booking
RevenueIncrease ₹422 crore (US$51 million) (FY24)[2]
Decrease ₹53 crore (US$6.4 million) (FY24)[2]
Decrease ₹−4.5 crore (US$−540,000) (FY24)[2]
Websitewww.yatra.com

History

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In April 2012, it became the second-largest online travel service in India, with a 30 percent share of the ₹370 billion (US$4.4 billion) market for online travel-related transactions.[4] It launched “holiday-cum-shopping card” with State Bank of India (SBI).[5]

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.[6]

In November 2013, Yatra.com launched e-gift cards in collaboration with Qwikcilver.[7]

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.[8] It was publicly listed on the NASDAQ under the ticker symbol "YTRA" in December of the same year.[9]

In July 2019, Ebix, a US-based company, planned to acquire Yatra.com[10] but the acquisition was cancelled in June 2020.[11]

In June 2020, Yatra.com announced an underwritten public offering at $11.5 mn[12] and laid off about 400 employees around the same time.[13]

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.[14]

In 2023, Yatra Online listed on the Indian stock exchanges after its initial public offering.[15]

Acquisitions

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Yatra made three acquisitions: ticket consolidator Travel Services International (TSI) in October 2010,[16] global distribution system provider Magicdom[17] and Indian events and entertainment portal BuzzInTown.[18] All were acquired for undisclosed amounts.[19][20] In July 2012, Yatra.com acquired a 100% stake in Travelguru.[21] In 2016, Yatra.com [22] acquired-hired Mumbai-based Travel-logs.in, which specializes in customized city walks and private tours.[23]

In September 2024, Yatra announced the acquisition of Globe Travels for Rs 128 crore to strengthen its leadership in the corporate travel sector.[24]

Collaboration

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  • Yatra partners with Amazon Business to cater to Hospitality Partners, Aug 2020.[25]

Investors

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Early investors included Reliance Venture Asset Management Ltd,[26] Web18 of Network18 Group (a subsidiary of Reliance Industries), Norwest Venture Partners and Intel Capital.[27] In April 2011, it announced funding of ₹2 billion (US$24 million) from investors including Valiant Capital Management, Norwest Venture Partners (NVP) under Promod Haque's management and Intel Capital.[28]

References

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  1. ^ Saha, Pradip Kumar (30 June 2017). "Manish Amin: The travel troubleshooter". Mint. Retrieved 7 June 2024.
  2. ^ a b c "FINANCIAL PERFORMANCE Q4-FY24/FY24" (PDF). BSE. Yatra Online. Retrieved 7 June 2024.
  3. ^ 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.
  4. ^ "..two important stakeholders in online travel,." Business Standard. 25 April 2012. Archived from the original on 26 April 2012. Retrieved 2 May 2012.
  5. ^ "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.
  6. ^ "Have I Been Pwned: Pwned websites". haveibeenpwned.com. Archived from the original on 3 October 2015. Retrieved 27 June 2023.
  7. ^ "Yatra.com launches e-gift card" The Hindu Business Line, 27 November 2013
  8. ^ "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
  9. ^ "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.
  10. ^ "US-based Ebix buys online travel portal Yatra.com". @businessline. Archived from the original on 18 July 2019. Retrieved 18 July 2019.
  11. ^ "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.
  12. ^ "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.
  13. ^ "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.
  14. ^ 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.
  15. ^ "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.
  16. ^ "Yatra.com to go for more acquisitions, aims Rs 7k crore revenue in next 5 years". The Economic Times. 30 August 2012. ISSN 0013-0389. Retrieved 8 September 2024.
  17. ^ "Yatra Online Inc Share Price, YTRA Stock Price Quote Today". Groww. Retrieved 8 September 2024.
  18. ^ "Yatra acquires events and entertainment portal Buzzintown.com". afaqs!. 9 January 2012. Retrieved 8 September 2024.
  19. ^ Yatra acquires events and entertainment portal Buzzintown.com Archived 4 March 2016 at the Wayback Machine afaqs.com.
  20. ^ "Yatra.com acquires events portal Buzzintown.com". Archived from the original on 19 February 2014. Retrieved 3 February 2016.
  21. ^ 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.
  22. ^ "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.
  23. ^ "Yatra acqui-hires travel-logs to boost tours within cities" Archived 30 May 2016 at the Wayback Machine The Economic Times, 20 January 2016
  24. ^ "Yatra Online to Acquire Globe Travels for Rs 128 Crore, Expanding Corporate Travel Reach". Outlook. Retrieved 3 September 2024.
  25. ^ Chaturvedi, Anumeha (19 August 2020). "Yatra.com partners with Amazon Business to cater to Hospitality Partners". The Economic Times. ISSN 0013-0389. Retrieved 6 May 2024.
  26. ^ "Our Portfolio". Reliance Venture. Archived from the original on 3 May 2012. Retrieved 2 May 2012.
  27. ^ "Yatra Investors - Yatra.com". Yatra.com. Archived from the original on 6 June 2015. Retrieved 3 February 2016.
  28. ^ "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.
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  • Company homepage
  • Business data for Yatra Online, Inc.:
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