MakeMyTrip acquires travel startup website Mygola.com

Online travel services provider MakeMyTrip.com has acquired Mygola, a startup travel guide firm.
The acquisition was done through MakeMyTrip’s Innovation Fund, which invests in early-stage or start-up companies in the travel technology space.
With this acquisition, MakeMyTrip will get a greater foothold in the mobile space as Mygola’s entire team has joined them.
Mygola was founded by IIT Mumbai batchmates Anshuman Bapna and Prateek Sharma in 2009.
Since its formation it had raised capital from Helion Ventures, Blumberg Capital and 500Startups, among other angel investors.
Presently, Mygol’s app is present in 16 cities across the world and has up to 5,000 installs on the Google Playstore i.e. on Android Operating System.
It should be noted it is MakeMyTrip’s seventh overall acquisition and third of an Indian company. MakeMyTrip.com was founded in 2000 by Deep Kalra.

Month: Current Affairs - April, 2015