Friday, November 22, 2024

Flipkart has sold Cleartrip’s Middle East business

Cleartrip opened up in the Middle East in 2010 and acquired Riyadh based Flyin.com in 2018, which played a similar role in kick-starting online travel in Saudi Arabia

PRAVASISAMWAD.COM

Online travel marketplace Wego acquired Cleartrip’s Middle East business from Flipkart Group for an undisclosed sum on Monday. The transaction also included the sale of Flyin.com and a technology co-operation agreement between Wego and Flipkart. Cleartrip opened up in the Middle East in 2010 and acquired Riyadh based Flyin.com in 2018, which played a similar role in kick-starting online travel in Saudi Arabia.

Wego and Cleartrip both have their regional headquarters located in Dubai. “This acquisition will significantly increase our scale and capabilities and will strengthen our ability to partner and collaborate across our region,” said Ross Veitch, CEO and Co-Founder of Wego. The acquisition is expected to close in the second half this year.

 

“Our focus is clear, building a world-class online travel business emanating from the Middle East but with global ambitions.”

— Stuart Crighton, Co-Founder & Head of Cleartrip’s International Business

 

“Given our strategic priorities and focus on the Indian market, the acquisition of Cleartrip’s Middle East business by Wego provides continuity to its business, and we believe that they are the right partners to boost its next phase of growth,” said Ravi Iyer, Senior Vice President and Head-Corporate Development, Flipkart.

Founded in 2005, Wego operates the largest online travel marketplace in the Middle East and North Africa (MENA) region. “Our focus is clear, building a world-class online travel business emanating from the Middle East but with global ambitions,” said Stuart Crighton, Co-Founder and Head of Cleartrip’s International Business.

************************************************************************

Readers

These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.

Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world.  We have taken the small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.

Please help us to keep our journalism independent and free.

In these difficult times, to run a news website requires finances. While every contribution, big or small, will makes a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.

For more information: pravasisamwad00@gmail.com

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

EDITOR'S CHOICE