Media company Bennett, Coleman & Co Ltd (BCCL) has picked up an undisclosed stake in an online hotel booking company TravelMasti. It provides internet-based travel related services to domestic and inbound tourists and corporates for their conferences.
TravelMasti's current business mix comprises domestic clients (60 per cent), inbound clients (25 per cent) and corporate conference clients (15 per cent). The site is available in five foreign languages too such as Spanish, French, Dutch, Italian, and Portugese, besides English.
Since BCCL hardly discloses their investments, it's not clear if it has a cash component or if it's an equity in return for advertising space and branding support.
BCCL had earlier picked up a 17 per cent stake in HolidayIQ, a Bangalore-based holiday information portal. HolidayIQ was angel funded by DS Puri (co-founder of HCL Group) and Erasmic Venture Fund.
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