Core Viewpoint - Mondee Holdings, Inc. has been acquired by Tabhi, exiting Chapter 11 restructuring, which has strengthened its financial position through significant debt reduction and new equity investment [1][2][3]. Group 1: Acquisition and Financial Restructuring - Tabhi acquired substantially all assets of Mondee Holdings, significantly reducing its debt and other obligations [1]. - Prasad Gundumogula, the Co-Founder and Chairman, made a substantial personal cash investment, resulting in him holding a majority equity stake and assuming the role of CEO [2]. - The company has cut its debt roughly in half and raised new cash equity, partnering with leading financial institutions [3]. Group 2: Company Operations and Market Position - Mondee operates as a leading travel marketplace and AI technology company, servicing over 125 million global travelers through a network of approximately 65,000 travel experts [3][4]. - The company processes over 50 million daily searches and has a marketplace that includes over 500 airlines, more than one million hotels, and 30,000 rental car pickup locations [4]. - Mondee is recognized for introducing cutting-edge AI in travel and aims to continue innovating within the industry [3].
Tabhi acquires Mondee out of Chapter 11 Restructuring and Boosts Liquidity and Capital Structure