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Jul, 03 2018

Paytm buys mobile based hotel booking startup NightStay

The NightStay app is available on both Android and iOS platforms. It operates across Delhi-NCR, Mumbai, Bangalore, Chennai, Hyderabad, Goa, Ahmedabad, Jaipur, Kochi, Pune, Agra and Chandigarh.

SoftBank and Alibaba-backed digital payments and e-commerce firm Paytm has bought NightStay Travels Pvt. Ltd, a Delhi company that operates a mobile-based marketplace for last-minute hotel bookings.

NightStay co-founder Nasr Khan confirmed the development. He didn’t give any details.

A Paytm spokesperson didn’t respond to email queries and text messages seeking comment till the time of publishing this article.

Earlier in the day, The Times of India reported, without mentioning the source of the information, that NightStay was acquired for around $20 million (around Rs 130 crore) in a cash-and-equity deal. The report also said that the entire team of NightStay will join Paytm.

NightStay was founded by Khan and Deepak Negi in March 2015. It procures unsold inventory from hotel owners at a discount and offers the rooms under three categories – boutique, business and luxury class. It does not offer concessions on the discounted price.

An IIM-Calcutta alumnus, Khan is the chief executive of the venture. He was earlier the vice president of the products vertical at Sanjeev Bhikchandani-led Info Edge (India) Ltd. Negi, an alumnus of the Symbiosis Center for Management Studies, is the chief operating officer of NightStay.

The NightStay app is available on both Android and iOS platforms. It operates across Delhi-NCR, Mumbai, Bangalore, Chennai, Hyderabad, Goa, Ahmedabad, Jaipur, Kochi, Pune, Agra and Chandigarh.

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