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Via eyes $100 mn fundraise to fuel global expansion

Bangalore-based online travel company Via has planned to raise around $100 million from venture capital and private equity investors to fund its global expansion. Via is in talks with investors and expects to complete the initial fund-raising process in four to five months. The company is also looking to sell shares to the public in India and the US to raise as much as $1 billion in the next 18 months to 24 months.

Bangalore-based online travel company Via has planned to raise around $100 million from venture capital and private equity investors to fund its global expansion. Via is in talks with investors and expects to complete the initial fund-raising process in four to five months. The company is also looking to sell shares to the public in India and the US to raise as much as $1 billion in the next 18 months to 24 months. Founded in July 2006, Via has earlier raised funds from venture capitalists IndoUS Venture Partners and Sequoia Capital India.

According to Vinay Gupta, co-founder and chief executive officer, Via, the company turned profitable in 2007, and according to Via’s website, its annual revenue is $500 million. Via mostly caters to corporate clients and the company is planning to launch an online platform for individual customers in April 2011. It has outlets in 1,700 cities and towns in India, besides offices in North America, West Asia, Africa and the Asia-Pacific region. It has at least 50,000 registered travel agents.

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