Yatra.com has acquired the online event and entertainment website BuzzInTown, as a part of its expansion plans suggested last year.
In April 2011 Yatra had raised its second round of funding worth Rs 200 crore led by US-based Valiant Capital and existing investors Norwest Venture Partners and Intel Capital. Yatra had earlier raised Rs 150 crore through various rounds of investments by its existing shareholders including venture capital firms Norwest Venture Partners and Intel Capital, Anil Ambani group firm Reliance Venture Asset Management and Network 18. Intel Capital happens to be the common investor of both the parties in the merger.
BuzzIntown is the one-stop-shop for all information related to events and happenings – musicals, plays, book reads, concerts, sports, live bands, exhibitions and expos, and, very importantly, those that are personal/social in nature and Yatra provides information, pricing, availability, and booking facility for domestic and international air travel, railway reservation, hotel bookings, holiday packages, buses, and car rentals.
It will be very interesting to see if both the portals hand in hand are able to create some fruitful amalgamation in terms of presence and traffic.
April 22, 2013, 5:55 am UTC
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