MUMBAI (NewsRise) -- South African media and e-commerce conglomerate Naspers will invest $250 million more in Indian online travel company Ibibo Group, in a sign of growing investor interest in the booming online travel and hospitality business in the south Asian nation.
With rising disposable incomes and an explosion in the use of smartphones, more people are relying on the Internet for travel bookings in the world's second-most populous nation. A host of global investors, including Japan's SoftBank and China's Ctrip.com International and New York-based Tiger Global Management have poured millions of dollars in recent years into online travel businesses in India betting on the market's growth potential.
