Private equity firm General Atlantic has decided to buy a minority stake in TBO.com, a global travel distribution platform, for an undisclosed sum. General Atlantic will acquire the shares from entities owned by Affirma Capital, one of the investors in the travel distribution platform, the PE firm said on Sunday.
Subsequent to this transaction, Affirma Capital will continue to remain invested in the company.
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Founded in 2006 by Gaurav Bhatnagar and Ankush Nijhawan, TBO is a global travel distribution platform with $2.73 billion in gross transaction value for FY23 and a presence in 100+ countries as of 30 June 2023.
“We see immense potential in the path ahead for TBO, including global expansion opportunities, and are excited to partner with the company to help enable the next generation of travel globally”, said Shantanu Rastogi, managing director and head of India at General Atlantic.