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Expedia acquires majority stake in Travelguru for $17 million

US-based online travel company Expedia, which launched its India operations in March 2008, is believed to have acquired a majority stake in Travelguru, one of India’s leading online travel company with focus on hotel booking, for $17 million. According to VC Circle, the deal values Travelguru at about $30 million.

US-based online travel company Expedia, which launched its India operations in March 2008, is believed to have acquired a majority stake in Travelguru, one of India’s leading online travel company with focus on hotel booking, for $17 million. According to VC Circle, the deal values Travelguru at about $30 million.

Travelguru.com was co-founded by Ashwin Damera (CEO) and Ganesh Rengaswamy in 2006. In December 2007, Travelguru acquired B2B (business to business) hotels aggregator Desiya.com. Till date, Travelguru has received a total funding commitment of $25 million — $10 million in the first round by Sequoia Capital India and $15 million in the second round by Battery Ventures and Sequoia.

Update

VC Circle now reports that the valuation of Travelguru could be $75 million. Interestingly, Ashwin Damera, CEO of Travelguru, while denying the story, has told Medianama, “…there has been no deal signed! What more is there to deny?”

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