The takeover of media group Network 18 by Reliance Industries last week has made Mukesh Ambani and his brother, Anil Ambani, co-investors in travel portal Yatra.com. The original investors of the company include Anil Ambani’s Reliance Capital, Norwest Venture Partners and TV18, a Network 18 group company.
The Ambanis had carved out their separate business interests in 2005 but dissolved a non-compete agreement last year to collaborate in telecommunications.
Yatra.com began operations in 2006 and is among top three travel portals in India with a market share of about 20 per cent. In 2012-13 Yatra.com earned a revenue of Rs 162 crore and made a loss of Rs 77 crore. Its board of directors include Pramod Haque, managing partner of Norwest Venture Partners, co-founder and CEO Dhruv Shringi and Sarbvir Singh, managing director of Capital 18, the private equity arm of Network 18.
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