Treebo Hotels, operated by Ruptub Solutions Pvt. Ltd, has acquired Bengaluru-based travel start-up Events High, which operates an online discovery platform for local events and activities. As a part of this acquisition, the 15-member Events High team, including the founders, will join Treebo Hotels. However, the financial details related to this deal have not been disclosed.
Even after this acquisition, the company will retain its original brand, and continue to operate independently. Sidharth Gupta, CEO of Treebo Hotels said that over a period of time, Events High’s technology platform will be merged with Treebo’s. He added that Events High, which has over 1.5 million unique visitors on its website, will leverage Treebo’s reach across 75 cities for further expansion.
Events High was founded in 2014 by Abhishek Shrivastava, Arvind Batra, Nikesh Garera and Parag Sarda. The company had raised an undisclosed amount of seed money from Axilor Ventures in December 2016. It is currently present in eight cities, and enables users to discover and book curated experiences and events, including trekking and camping, plays, concerts, group activities and meet-ups, among others.
With the new acquisition, Treebo is targeting young travellers. In an interview with LiveMint, Sidharth Gupta said, “We are not limiting to just millennial, but to anyone looking for experiences in a city. Thanks to social media, people are now searching for new experiences and places to visit, over tangible products.”
Gupta added that Treebo customers will soon be able to book hotel rooms, and other events nearby on its platform. Besides, Treebo will also look to offer services such as cabs from airport to the hotel, taxis for local sightseeing, and travel guide. Treebo currently has over 400 hotels and 10,000 rooms.
Last August, Treebo had raised $34 million in a Series-C round led by Hong Kong-based investors and follow-on venture capital firms SAIF, Matrix and Bertelsmann. Its rival FabHotels had raised $25 million from Goldman Sachs, Accel and Qualcomm Ventures in July 2017.