Tag Archives: Ashish Kashyap

In the backdrop of the demonetisation drive, Goibibo has launched a feature for its partner properties to collect online payments from their walk-in and offline customers. There is no requirement of POS machines. This is a secure and scalable feature launched by Goibibo for its partners. Goibibo has enabled 9000 properties in the first phase. There is a significant volume of properties in India that have a large percentage of walk-in guests. Also these properties do not have access to POS machines or digital payment instruments. Properties range from budget hotels, guest houses, BnB’s, alternate accommodation, homes, villas, cottages, houseboats etc. It is estimated that there are more than 100,000 such long tail accommodation units in India that lack access to digital payment solutions. Walking in customers can pay at the hotel via Credit and debit cards, EMI linked payments, Net banking and a host of wallets. Unlike wallets, this channel does not have any payment limits.  Ashish Kashyap, Founder & CEO, ibibo, says, “We at ibibo welcome demonetisation and digitization of transactions. Our mission is to organise the accommodation and transportation industry. This payment feature for offline use case is a step in this direction. Online travel is one of the few industries that has 100% of its transaction in a digital format. By launching this feature, we are catalyzing the movement from offline to online and at the same time solving problems for the hotel industry”

Leading online travel groups, MakeMyTrip Limited and ibibo Group, have agreed to pursue a transaction that will combine the two businesses under MakeMyTrip. The combination will bring together a bouquet of leading consumer travel brands, including MakeMyTrip, goibibo, redBus, Ryde and Rightstay, which together processed 34.1 mm transactions during FY2016.Following the closing of the proposed transaction, Founder Deep Kalra will remain Group CEO and Executive Chairman of MakeMyTrip and Co-founder Rajesh Magow will continue to remain CEO India of MakeMyTrip. Founder and CEO of ibibo Group, Ashish Kashyap, will join MakeMyTrip’s executive team as a Co-founder and President of the organization. The transaction is expected to unlock value for customers, supply partners and shareholders, by combining the complementary strengths of each business. Naspers and Tencent, through their jointly owned holding company (91% owned by Naspers and 9% owned by Tencent), are selling ibibo Group to MakeMyTrip in exchange for an issuance of new shares by MakeMyTrip. Upon closing of the transaction, MakeMyTrip will own 100% of ibibo Group. Naspers and Tencent will become the single largest shareholder in MakeMyTrip, owning a 40% stake, and will contribute proportionate working capital upon closing. Deep Kalra, Chairman and Group CEO of MakeMyTrip, said: “Today’s announcement is a significant step forward for the rapidly growing travel industry in India. We expect this deal to create an even more scalable business with the expertise to transform the booking experience for Indian travellers. I am delighted to be leading such a strong team in our next chapter of high-growth in this dynamic industry.” Rajesh Magow, co-founder and CEO India of MakeMyTrip added: “We welcome the ibibo team to the newly expanded MakeMyTrip family. The combination of these two …