Highlights
- Investments: Estimated under $ 1 million (Table 1)
- No. of Deals: 1
- Exits: $10 million-plus (Table 2)
- Top Exited Sector – Consumer Internet
Top Deal
Mumbai-based online hotel booking services startup Travelguru was acquired by US online travel firm Travelocity for a little over an estimated $10 million (Rs 50 crore). VC Circle reports that Travelguru was valued at $10-12 million at the time of the acquisition — see post here. In an interview to the website on August 19, Travelguru CEO Ashwin Damera, however, denied the valuation quoted — see post here. Travelguru was founded in 2004 as a Harvard Business School project by Damera and Ganesh Rengaswamy. It raised $10 million in Series A funding from Sequoia Capital India in 2006 and later in the same year raised a $15 million Series B commitment from Sequoia and Battery Ventures. If the venture capitalists did disburse all of the committed funds, then it is likely that they did not make any money on the deal.
1. Deals
| Company | Investor | Deal Size ($ mn) |
| Saraplast | Aavishkaar India Fund | Undisclosed |
Data Source: Grant Thornton India
2. Exits
| Company | Buyer | Seller | Deal Size ($ mn) |
| Travelguru | Travelocity | Sequoia India, Battery Ventures | Undisclosed |
| iGovernment | 9.9 Mediaworx | Goosefish Media Ventures | Undisclosed |
Data Source: Media Reports
