Wednesday, April 30, 2014

Concur Buys Cleartrip Stakes From Sherpalo, Kleiner Perkins

Seattle-based Concur has acquired a larger stake in Indian online travel site Cleartrip, according to reports today, and has bought out fellow investors Sherpalo Ventures and Kleiner Perkins Caufield & Byers. Financial terms of the deal were not announced. Concur had invested a total of $52M in Cleartrip before the latest move. According to local Indian analyst reports, Cleartrip owns about 20 percent of the travel booking market in that country.