In an unexpected twist, billionaire Ambani brothers Mukesh and Anil are now co-investors in leading travel portal Yatra.com.
When Yatra was launched in August 2006, original investors included Anil Ambani’s Reliance Capital, TV18 — a Network 18 group company — and Norwest Venture Partners.
Network 18 was recently taken over by Reliance Industries, which means that the senior Ambani has also become an investor in the travel portal.
Telecommunications is another area where the Ambani brothers are collaborating actively after the non-compete agreement between them was dissolved.
RIL and ADAG group did not respond to mails and messages seeking comments for this story. Yatra also did not comment.
The two Ambani brothers have interests in separate businesses except telecom, where Mukesh Ambani’s RIL and Anil’s ADAG group have entered into a cooperation, by which RIL will use ADAG’s infrastructure for its 4G services.
There are no other businesses where the two brothers are competing against each other.
Gurgaon-based Yatra is one of India’s leading travel portals, providing information, pricing, availability and booking facility for domestic and international air travel, hotel, holiday packages and bus and railway reservations. Yatra has a market share of around 20%. It made loss of `77 crore in 2012-13, and revenues in 2012-13 stood at Rs 162 crore.