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Cleartrip To Invest $10M In Middle East

Online travel agency Cleartrip Travel Services will invest around $10 million in the Middle East market and is targeting a 3x growth in the business in the region over the next 12 months.

Cleartrip launched a Middle East version of its travel booking website Cleartrip.ae in May 2010. The website has seen over 30,000 travel bookings since its launch, and in February received more than 250,000 unique visitors, according to the company spokesperson Tarique Khatri, VP, Business Development, who spoke to HotelierMiddleEast.com.

On being contacted by TechCircle.in, the company confirmed that Middle East was an important market but did not confirm the investment.

When Cleartrip.ae was launched, Hrush Bhatt, Founder, Cleartrip had said, "With e-commerce in Dubai set to hit $36bn by end of 2010, the UAE customer is demanding more choices in online travel and Cleartrip is launching a completely localised UAE product to meet this demand. This is a mature, internet savvy market with over 60% internet penetration."

Other plans include launching its mobile booking app and setting up partner portals for travel agents and corporate customers.

Cleartrip is one of the top 3 online travel firms in India, with Makemytrip.com and Yatra.com. Founded in 2006, it is backed by Kleiner, Perkins, Caufield & Byers, Sherpalo Ventures, DAG Ventures and Draper Fisher Jurvetson.

From the Cleartrip blog today - Someone Wants To Buy Our Website (for $2500! Hilarious!)

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