MakeMyTrip buys rival ibibo Group
Online travel platform MakeMyTrip on Tuesday bought rival ibibo Group for an undisclosed amount. Owned by Naspers and China's Tencent Holdings, ibibo owns consumer travel brands goibibo, redBus and Ryde. Following the development, Founder Deep Kalra will remain MakeMyTrip's Group CEO and Executive Chairman. Ashish Kashyap, Founder and CEO of ibibo, will join MakeMyTrip as Co-founder and President.