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<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Mario Tama/Getty Images</div></div></div>Indian travel portal Yatra went public on the Nasdaq on Monday, following the footsteps of its main rival MakeMyTrip, which had its initial listing on the tech-heavy exchange in 2010. Yatra is just the fourth Indian company to be listed on the Nasdaq, following its <a href="http://techcircle.vccircle.com/2016/12/19/yatra-to-list-on-nasdaq-today-after-reverse-merger-with-us-based-blank-cheque-firm/">reverse merger with Terrapin 3 Acquisition Corp</a>. The public fundraising effort comes after a series of <a href="http://www.vccircle.com/news/technology/2014/04/24/yatra-will-break-even-less-year-ceo-dhruv-shringi">investments in the company by private equity investors</a> including Norwest Venture Partners and Network18.Yatra faces domestic competition from multiple players, and <a href="http://articles.economictimes.indiatimes.com/2015-12-07/news/68835952_1_julyseptember-rs-13-crore-mobile-internet">profits have still eluded online travel portals</a>.In email interview with Business Insider, Yatra's CEO Dhruv Shringi discussed the company's rationale for listing on the Nasdaq, his outlook for the Indian travel industry, and concerns over Yatra's profitability and competition.Prashanth Perumal: Why the decision to go public?Dhruv Shringi: We think it is the right time to go public as we have a very strong and trusted brand, a growing market, and the right internal structure, processes, and systems in place to take this huge leap forward. Over the course of the past decade, Yatra has established itself as one of the leading brands and companies in the Indian Internet and e-commerce space. We are now a force to be reckoned within the Indian travel market. With the largest Indian hotel network (61,000+) and more than 14,000 travel agents in over 1,100 cities and towns, a cumulative of more than 4.5 million customers and gross bookings of $897 million in fiscal 2016, our IPO could not have come at a better time. Also, our strategic partnership with Reliance JIO, with a preloaded Yatra app on 35 million phones, will be instrumental in our growth.Perumal: Why Nasdaq over the Indian stock exchanges?Shringi: Nasdaq has emerged as the market where a lot of our peer group of companies - the online travel companies from China, Latin America and even India - are listed. There is a lot of research analyst coverage happening for such companies on the Nasdaq, as well as liquidity and demand for these stocks. These were the factors that we kept in mind while making the decision to list on the Nasdaq. Perumal: MakeMyTrip made a similar decision to list in the Nasdaq a few years ago. Is there a trend here?Shringi: They would have their own reasons. We would not like to comment for them.Perumal: Can you explain your bullish case about India's middle-class helping Yatra?Shringi: India is the fastest growing global economy driven by a young population and travel expenditures are forecasted to grow significantly faster than the economy. India has hundreds of large cities and rising per capita income which are boosting demand for travel. Demographics, government policy, growing smartphone and mobile internet penetration, and an improved investment environment are driving growth, especially in Tier 2 and Tier 3 cities in India. The recent demonetization initiative of the Government is going to accelerate digital payments and fuel online purchasing. India is today the second largest outbound market after China, and growing faster. Also, one of the major reasons for more Indians travelling overseas is to visit their friends and families as there are a large number of Non-Resident Indians residing in various parts of the world. Perumal: Why do you think customers would choose Yatra over other online travel companies?Shringi: Yatra is one of the most trusted brands in the Indian market, with a strong emphasis on excellent customer service. This, coupled with a powerful loyalty program, has created a very loyal set of customers with almost 74% of transactions coming in from repeat users. We also have the largest hotel inventory amongst all OTAs and our strategic alliance with Reliance Jio that will enable us to efficiently reach tier 2 and 3 markets in India will ensure that Indian travelers choose us over competitors.Perumal: When will Yatra likely turn profitable?Shringi: India is a large travel market that is growing rapidly and will continue to grow over the next decade, fueled by increasing middle class disposable incomes. In addition, the rapid digital transformation that is taking place in India, coupled with the increasing penetration of smartphones and the mobile internet especially in tier 2 and tier 3 cities, is going to further drive the online travel market. In this kind of scenario, driving market share and customer acquisition is critical to building a huge business in the long term. We will invest in a number of key areas to accelerate growth in the business - building increased brand awareness, investing in mobile technology and leveraging our multi-channel approach - all of these will be critical to build a large, profitable business in the long term. Our financial projections are in the public documents associated with the listing process and we are on track to achieve those. Perumal: Are investors in Yatra looking at the IPO as a chance to exit their investment?Shringi: Our existing investors will have between 57-60% of holding in the listed entity so they are not looking at exiting their investment in Yatra. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/fed-federal-reserve-raised-rates-janet-yellen-explain-why-2016-12">Watch Yellen explain why the Federal Reserve decides to raise rates</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="9iN245ODE6FzNRBdC0_U12Pgj2-fdpNL" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Here's the Indian travel company that just went public on the Nasdaq

Online travel portal <keyword id="6362992" type="COMPANY" weightage="20" keywordseo="yatra">Yatra</keyword> is merging with <keyword id="6357328" type="COMPANY" weightage="100" keywordseo="NASDAQ">NASDAQ</keyword> listed <keyword id="1919669" type="UNKNOWN" weightage="100" keywordseo="Terrapin">Terrapin</keyword> 3 Acquisition Corporation (TRTL) that values Yatra at an enterprise value of $218 million. 
 
TRTL is formed for effecting a merger, acquisition, or similar business combination and had raised $212.75 million in its IPO in July 2014 and the combined entity will be listed on NASDAQ as Yatra (YTRA). 
 
As per reports, MIHI LLC, an affiliate of Macquarie Capital, has committed to buy an additional $20 million of TRTL equity as part of the transaction and Yatra will continue to own at least 35 per cent of the issued and outstanding shares in the combined company. 
 
In addition, existing shareholders of Yatra may receive additional consideration of up to $35 million upon the achievement of certain financial objectives during the 18 months. 
 
Yatra, which was founded in 2006, will continue to be led by co-founder Dhruv Shringi. 
 
Yatra customers booked more than 2.8 million air travel reservation and hotel stays with total transaction value worth more than $900 million during fiscal year ended March 2016 at a growth of 25 per cent. 
 
(Image: Thinkstock)

Online travel portal Yatra is merging with Terrapin 3 Acquisition Corp, to be listed on NASDAQ

Mumbai, July 14 (IANS) With the aim of diversifying its portfolio beyond travel, online corporate travel platform Yatra.com on Tuesday said it had forged an alliance with upGrad Enterprise, the business-to-business arm of online higher education company upGrad. The development comes even as the Covid-19 pandemic hit the global travel industry hard. This partnership will enable Yatra's corporate clients to deliver advanced learning and skill development for their employees, the company said. "In a tough economic climate, it is important to develop and reskill the workforce to overcome the challenges being presented," Dhruv Shringi, Co-founder and Chief Executive Officer, Yatra.com, said in a statement. "We are excited to join forces with upGrad to provide a platform to our clients who are looking to develop employees' potential specific to their businesses or a sector," Shringi added. From deployment-ready workforce within six months, to reducing employee attrition and aligning learning and development plans with business growth strategy, upGrad Enterprise will work closely with Yatra's corporate and SME clientele. The edtech major will be providing deep skilling programmes that align with the client's desired business outcomes to deliver impact at scale. Yatra.com said it services over 850 corporate and more than 20,000 SME clients. "The unprecedented rate of technology advancement is disrupting companies and jobs everywhere. Across verticals, enterprises face barriers to this adoption due to skill-gap in their talent pool," said Mayank Kumar, Co-Founder and MD, upGrad. "Such barriers can be crippling, hampering business growth. Our strategic partnership with Yatra, which is absolutely the first of its kind and creates a new milestone in the education industry, will be focused towards bridging this workforce skill-gap," Kumar said. --IANS gb/na

Yatra.com partners upGrad to enter edtech sector

<ul><li>The 14th edition of <keyword id="906455" type="COMPANY" weightage="20" keywordseo="India-Digital-Summit">India Digital Summit</keyword> held in Delhi, will address topics related to policies, advertising and other industry related trends.</li><li>Delegates from Amazon, PayTm and other industry leading firms will address the Summit</li></ul>Union communications minister <keyword id="6354886" type="PERSON" weightage="20" keywordseo="Ravi-Shankar-Prasad">Ravi Shankar Prasad</keyword> will deliver the inaugural address at the 14th India Digital Summit to be on February 5-6 at The Lalit in New Delhi. The flagship event of IAMAI (Internet and <keyword id="592650" type="COMPANY" weightage="20" keywordseo="Mobile-Association-of-India">Mobile Association of India</keyword>) will raise topics like policies, advertising, digital commerce, start-up ecosystem, emerging tech, and other digital trends. Delegates across the ecosystem like cloud, e-commerce, travel, automobile and “India is on the verge of taking the next digital leap, with over 451 million monthly active internet users and is in second place after China in terms of internet users,” IAMAI said. Top executives like <keyword id="215413" type="PERSON" weightage="20" keywordseo="Amit-Agarwal">Amit Agarwal</keyword> of Amazon; Vijay Shekhar Sharma of PayTM; Sanjeev Bikhchandani of Info Edge will also be present at the summit. As digitization and data collection have become common, industry players and the government alike have become increasingly aware of data privacy. Data breaches too are becoming more common, pushing the government to take cognisance of the need to regulate the industry. Data localisation too is a much debated issue where the government wants to keep Indian data in local servers which is making life tough for MNCs. While this theory’s advocates argue that it will help implement data privacy laws more effectively while global firms feel data will be <a href="https://www.businessinsider.in/tech/news/data-localisation-wont-help-local-firms-or-improve-privacy-but-it-could-cost-india-43-billion/articleshow/72251167.cms">more vulnerable if it’s all in one place</a>. In the meanwhile the world of cybersecurity is changing rapidly. Threats continue to evolve at-par, if not faster than cyber intelligence can keep up. Old methods like trojans are still rampant with new threats like phishing attacks, webcam blackmail, and deep fakes ramping up. As all businesses go digital, some of these issues have been dragging them behind. The two day summit will feature a series of leadership talks by Baijayant Panda, former member of parliament; <keyword id="1929751" type="PERSON" weightage="20" keywordseo="Mohit-Bhatnagar">Mohit Bhatnagar</keyword>, managing director, Sequoia; Dhruv Shringi, co-founder &amp; CEO, Yatra and vice-chairman, IAMAI.

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Here's the Indian travel company that just went public on the Nasdaq

Prashanth Perumal

Online travel portal Yatra is merging with Terrapin 3 Acquisition Corp, to be listed on NASDAQ

BI India Bureau

Yatra.com partners upGrad to enter edtech sector

IANS

India Digital Summit: union communications minister will discuss digital policies, commerce and startups at the summit

Navdeep Yadav

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