One of the major investment firms General Atlantic has announced to acquire a minority stake in travel distribution platform TBO. General Atlantic has entered into an agreement with entities held by Affirma Capital for the acquisition.
After this transaction, Affirma Capital will remain invested in Travel Boutique Online. Founded in 2006, Travel Boutique Online is a global travel distribution platform with a presence in more than 100 countries as of June 2023.
As per the press release, TBO, on average, helps 40k+ transacting buyers to get real-time access to a global inventory of 700+ airlines and more than a million hotels.
As per the update by General Atlantic, the opportunities in the travel industry are huge and TBO is in the right position to capitalize on the evolving travel domain. This will allow TBO to strengthen its position and become the right choice for both buyers and suppliers in the travel industry.
“….We believe that General Atlantic, with its longstanding history of helping technology companies build enduring models, is an ideal partner for this stage of our growth journey. We are thrilled to have their backing and look forward to leveraging their expertise”, commented Gaurav Bhatnagar and Ankush Nijhawan, co-founders of TBO.
