wordpress blog stats
Connect with us

Hi, what are you looking for?


Cleartrip Sells Minority Stake To Concur For $40M

Online Travel Agent Cleartrip has sold an undisclosed minority stake for $40 million to Concur, a NASDAQ listed provider of integrated travel and expense management solutions. Also a part of the deal is a marketing alliance between the two companies. Concur provides travel and expense reporting services for business travellers, and plans to integrate Cleartrip-generated travel itineraries for Indian clients.


Cleartrip already offers “Cleartrip for business“, allowing companies to manage ticketing for their employees, manage employee ticketing permissions, view travel analytics and generate reports, create prepaid deposit accounts etc. There appears to be a fit here with Concur which, according to its profile, allows companies to ensure that corporate travel is booked within policy, reconciles expenses after travel is completed, and delivers electronic receipts – from airlines, hotels, and car rental companies – directly into expense reports. Note that earlier this year, Concur had acquired mobile application based trip management service TripIt for up to $120 million ($82 million up-front). In this context, keep in mind that Cleartrip also alows users to track their trips.


According to a Director’s Report filed by Cleartrip with India’s Registrar of Companies, Cleartrip earned a gross revenue of Rs. 54.97 crore (around $12.39 million) for the year ended March 31st 2010 (FY10), and a Profit after tax of Rs. 6.07 crore (around $1.37 million*). In comparison, it earned revenues of Rs. 33.51 crore ($7.55 million) in FY09, and a loss after tax of Rs. 24.63 crore (around $5.55 million).

For its fiscal year ending September 30th 2010, Concur reported total revenue of $292.9 million, and net income of $20.6 million. In its most recent quarter, ending December 31st 2010, Concur has reported revenues of $80.2 million, and its net income was $3.7 million.

Advertisement. Scroll to continue reading.


After MakeMyTrip’s blockbuster IPO last year, the question on our minds has been – who is next? So, is this a pre-IPO funding raising for Cleartrip? A NASDAQ listed firm as a shareholder would help target that market. In the meantime, there is word that Sequoia Capital funded Via might also raise funds; Expedia recently formed a joint venture with Air Asia, which will operate Expedia’s business in India, and other Asian geographies; then there is Travelocity, which had acquired TravelGuru, and last year, had filed a data theft case against Cleartrip.

Corrigendum: the article had incorrectly stated that Rs. 33.51 crore in revenue has been reported by Cleartrip for FY10, instead of FY09. The post above has been corrected. Our apologies for the mistake. Thanks for pointing it out Rajesh.

Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.


Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.


This article addresses the legal and practical ambiguities in understanding the complex crypto ecosystem in India.


It is widely argued that the PDP Bill report seeks to discard the intermediary status of social media platforms but that may not be...


Looking at the definition of health data, it is difficult to verify whether health IDs are covered by the Bill.

You May Also Like


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ