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Global internet and media firm Naspers will invest $250 million in online travel company ibibo, the company said in a statement on Wednesday.
The funds will be used to strengthen ibibo’s position in the Indian hotels category and on additional technology innovations, the statement added. Ibibo group, which owns Goibibo.com and redBus.in, is backed by Naspers as well as China’s internet firm Tencent.
“The Indian e-commerce market, and the online travel segment in particular, offers exciting growth prospects for us as a group,” said Naspers Group CEO Bob van Dijk.
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