Naspers looking to exit the B2B travel platform Travel Boutique Online (TBO)

Naspers, South Africa-based Internet and media group, is actively scouting for options to exit a five-year old investment it made in B2B travel platform Travel Boutique Online (TBO). The company is seeking a valuation of INR300 crore for TBO, and has approached online travel services providers MakeMyTrip and Yatra, as well as other potential financial investors. Naspers own 52% of the stake in startup, while the rest is owned by the founders who are ready to buy the rest of the stake.

TBO provides a range of services including travel services, such as airline, train and hotel reservation and holiday package deals to travel agents and acts as an aggregator of these services. It also helps charter helicopters and provides car rental, bus bookings and travel insurance services. Its services are accessed by 25,000 travel agents in India and the Middle East. The startup reported INR200 crore of revenues in FY16, with almost all its offices in India and only 1 in Dubai.