For an undisclosed amount but the sources at VCCircle reveal that the deal is somewhere around $10-$12M range. Both the founders get 1M in their pocket. Travelguru was one of the winners at Harvard b-plan competition and was started by Ashwin Damers and Amit Taneja. More information can be found here.
Important things to note -
1. There isn't much money in online air-fare business. Most of the revenues they generate is from hotel business.
2. In India the model is still 50% online and 50% offline - Again, a holistic online model is yet to succeed in India primarily because of low penetration on computer/internet.
3. Cross selling is important in this business.
Time to see what other players Makemytrip.com, and Yatra.com are going to do. All three of these sites are funded and are pretty dominant in the market. Speculation that makemytrip is going IPO this year are making news as well.
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