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Concur Buys Out Large Stake In India’s Cleartrip

Excerpt from TechCrunch

Skift Take

It’s a big bet by Concur, which has been making more than a few bets across the travel tech sphere over the last 18 months.

— Jason Clampet

Travel and expense management company Concur wants a bigger pie of the $3 billion Indian online travel market. The company has just concluded negotiations with Sherpalo Ventures and Kleiner Perkins to acquire additional stake in the Indian online travel startup Cleartrip.

In April 2011, Concur had invested $40 million in Cleartrip, to tap into India’s booming online travel booking market, which is now worth around $3 billion annually according to PhoCusWright, a global travel research company.

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