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Mumbai, Mar 6: Cleartrip.com, an online travel portal company, is on an acquisition spree. The portal is not only looking at acquiring players in the offline travel space but also software companies with or without any significant turnover.
“We are looking at acquiring small and niche players in the offline space segment, and also have software companies with interesting technology are on our cards,” said Sandeep Murthy, CEO, cleartrip.com.
Cleartrip.com has raised $18.5 million from Draper Fisher Jurvetson, Mahindra Group and existing investors, taking the total money raised till date to $30.2 million. “The money will be utilised in two ways. One, we plan to ramp up our offline presence via tie ups with retailers and travel agents and two, we will use it for acquisitions,” Murthy said.
With 90% of airline ticketing still done offline, Murthy realises the need to further the company’s presence in the offline space. The company already has a tie up with Future Group for a retail space in all Big Bazaar outlets, which it plans to further ramp up.
Cleartrip.com has started railway booking on a test mode. “You can search for trains on our website but cannot book,” Murthy said. “Talks are on with Indian Railways for provision of railway ticketing on our website.”
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