Mondee Announces Acquisition of Leading AI Company Purplegrids
15 Noviembre 2023 - 7:30AM
Business Wire
Procuring Enterprise AI Platform Marks a
Significant Advancement on Mondee’s AI Roadmap
Mondee Holdings, Inc. (Nasdaq: MOND) (“Mondee” or the
“Company”), the high-growth, travel technology company and
marketplace with a portfolio of global platforms in the leisure and
corporate travel sectors, has announced its acquisition of
Purplegrids, a Silicon Valley based, cutting-edge AI company
founded in 2017. This acquisition strengthens Mondee’s tech
capabilities and showcases its commitment to vertically integrate
AI across travel.
Mondee has been actively developing and implementing its
next-generation AI platform, including the launch of Abhi, the only
fully integrated solution in the travel market, encompassing
conversational and expert-trained generative AI curated
experiences, real-time travel booking and itinerary management.
Mondee completed the acquisition on November 13th, in an all-share
transaction, further strengthening its leadership in travel AI and
widening Mondee’s first-mover advantage.
Purplegrids' innovative Enterprise AI platform uniquely
integrates the advantages of Generative AI with private LLMs, Deep
Learning and Computer Vision with diverse data sources, seamlessly
blending them with native enterprise integration and business
intelligence capabilities on a no-code/low-code framework for
building next generation AI apps.
Purplegrids’ founders Joseph John and Shibi Sudhakaran, along
with their team of elite AI professionals, will join Mondee. Joseph
previously held leadership roles in Apple for over 12 years.
Likewise, Shibi has an impressive technology background, boasting
over two decades of expertise in AI/ML technologies and served in
multiple leadership positions at PayPal and Sun Microsystems.
Purplegrids' more than 50 team members bring valuable experience
from some of the most innovative enterprise companies, including
Google, Apple, Meta, PayPal, and Oracle.
“We are thrilled to welcome the entire Purplegrids team into the
Mondee family. This is a game-changer for Mondee, as it
significantly enhances the prowess of our AI vertically integrated
travel platform and provides another boost to our first-mover
advantage when it comes to AI in travel. It also accelerates our
plan to infuse AI across all aspects of our business, beyond Abhi,
the leading AI travel platform we have already launched,” said
Prasad Gundumogula, CEO, Chairman, and Founder of Mondee.
Purplegrids’ Founder and CEO Joseph John, stated, “Our team is
excited to join the Mondee family in unlocking the boundless
potential of AI in travel. Having been part of Mondee’s AI journey
for over a year, we recognize the immense value of Mondee’s unique
travel ecosystem with both traveler-behavior and expert-curated
data to train and evolve our AI models, enhancing Mondee’s AI
leadership in the travel industry.”
For additional information, visit mondee.com.
ABOUT MONDEE
Established in 2011, Mondee is a travel technology company and a
modern travel marketplace with its headquarters based in Austin,
Texas. The company operates 17 offices across the United States and
Canada and has core operations in India, Thailand, and Greece.
Mondee is driving change in the leisure and corporate travel
sectors through its broad array of innovative solutions. Available
both as an app and through the web, the company’s platform
processes over 50 million daily searches and generates a
substantial transactional volume annually. Mondee Marketplace
includes access to Abhi, the most powerful and only
fully-integrated A.I. travel planning assistant in the market. Its
network includes approximately 65,000 leisure travel advisors,
freelancers and influencers, 500+ airlines, and over one million
hotels and vacation rentals, 30K rental car pickup locations, 50+
cruise lines. The company also offers packaged solutions and
ancillary offerings that serve a global customer base. On July 19,
2022, Mondee became publicly traded on the Nasdaq under the ticker
symbol MOND. For further information, visit: mondee.com.
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