Online travel firm ibibo has acquired a minority stake in a cloud-based hotels solution provider Djubo for an undisclosed amount. Djubo, the New Delhi-based company provides an app-based centralised reservation platform and website templates for hotels along with a booking engine and payment gateway. The company was co-founded in February this year by Tarun Gulati, an IIM Bangalore alumnus and Sankalp Goel, an IMT Ghaziabad Alumnus.
Djubo currently has about 100 hotels on its platform and with this investment, they intend to scale to 2,000 hotels within the next 12 months and ramp-up its sales and marketing teams.
“A substantial portion of the investment will be put into product development to bring even more innovative functionality to Djubo and develop it into a robust, end-to-end solution for hotel sales management covering micro-functions as well,“ Sankalp Goel, co-founder of Djubo said.
Ashish Kashyap, CEO of ibibo Group will join Djubo’s Board as its board member. The online hotel booking market is expected to reach $ 1.8 billion by 2020. ibibo group companies include Goibibo.com, redBus.in, Yourbus and ibibo Ryde.