23 November 2016, India :
Yatra Online Inc., the company that runs Yatra.com, has received the notice of effectiveness with the Securities and Exchange Commission (SEC) as it prepares to hit the public market in the US, reported by Techcircle.
Yatra is a leading online travel company in India and committed to our mission of “creating happy travelers.”
Sharat Dhall, President, Yatra.com said, “We have filed the proxy documents with the SEC and they have also been accepted by the SEC and now there is a vote of the shareholders on December 12.”
“In order to complete the transactions contemplated by the Business Combination Agreement (the “Transaction”), at least a majority of the shares of Terrapin 3 common stock issued and outstanding as of the record date must be voted for the Business Combination Proposal ,” according to the filings with the SEC.
Since its inception in 2006, more than 4 million customers have used one or more of the comprehensive travel-related services, which include domestic and international air ticketing, hotel bookings, homestays, holiday packages, bus ticketing, rail ticketing, activities and ancillary services. With over 61,000 hotels contracted in over 1,100 cities across India, Yatra is India’s largest platform for domestic hotels.
In 2010, Yatra acquired TSI and its subsidiaries in order to expand B2B business, particularly international air ticketing for small and medium scale enterprises. In 2012, it acquired Travelguru B2B and B2C entities from Travelocity, which remain well-established hotel aggregators in India.
Yatra also has several acqui-hires, including the teams from mGaadi and dudegenie, in order to grow the business. Source- Techcircle