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Zomato likely to get $100 million from China's travel booking website Ctrip, says report

Zomato likely to get $100 million from China's travel booking website Ctrip, says report
Ctrip, an online travel booking website of China, is in talks to invest around $100 million in online food delivery and restaurant searching platform Zomato, The Times of India reported.
Ctrip, Ant Financial-an Alibaba affiliate and a couple of backers, are likely to invest around $400 million into the $1.8-2 billion-valuation company, sources told the paper.
"The discussions with Ctrip are in the last leg, with only the final amount yet to be decided. It is likely to be around $100 million. While the investment is purely financial, the two companies may explore synergies, which will be more strategic in nature going forward," the sources were quoted as saying.
The sources, according to the report, added that the transaction is likely to close in two weeks.
For Zomato, if the deal with Ctrip bears fruit, it will help the Gurugram-based company to expand and grow aggressively in international markets.