Online travel portal Yatra.com has acquired events and entertainment portal Buzzintown.com for an undisclosed amount. Buzzintown, an events and entertainment portal providing listings, content, deals and services across numerous events and happenings in the world, will continue to operate under the same brand name. This is Yatra's third major acquisition in 15 months. It had earlier acquired TSI in in October 2010, and MagicRooms in July 2011.
The new acquisition will allow Yatra.com to expand its customer base by adding over three million registered users of Buzzintown. With a presence in over 19 Indian cities, and 16 cities across USA and Canada, Buzzintown, will catalyse expansion of the Yatra.com portfolio giving customers the access to services beyond travel. As an entertainment hub, it provides information on an array of events, including videos, venue details, artiste profiles, groups, and other stakeholders of the event industry.
Commenting on the new acquisition, Dhruv Shringi, co-founder and CEO, Yatra.com, says, "Acquiring Buzzintown is in line with our strategic intent of building a deeper relationship with our customers by catering to their 'in-destination's lifestyle and entertainment needs. Buzzintown will enable Yatra.com to provide its customers an enhanced experience by sourcing special deals for the destinations they are traveling to. Our focus is on increasing our portfolio of internet services for our customers, and investing in product development and innovation through both organic and inorganic means."
Amitabh Saran, who will continue as CEO, Buzzintown, adds, "We get millions of visitors with a common interest for alternate options of entertainment where a large majority of these surfers like to be outdoors and explore newer destinations. With this acquisition, Buzzintown customers will now be able to even plan and book their travel with Yatra.com."
In April 2011, the online travel portal had received a funding of Rs 200 crore from venture capital firms Valiant Capital Management, Norwest Venture Partners (NVP), and Intel Capital. Interestingly, Buzzintown is also backed by Intel Capitals.
Previously, Yatra.com acquired ticket consolidator Travel Services International (TSI) to strengthen its foray into the B2B consolidation space. In July 2011, Yatra.com acquired hotel aggregation company, MagicRooms, offering access to a live inventory of over 3,000 hotels across India.Major stories over the last 30 days