Demonstrates Union Square Advisors’ expertise in providing comprehensive advisory advice to disruptive, high-growth vertical software companies
On December 21, 2021, Union Square Advisors announced it served as a financial advisor to Mondee Inc. (“Mondee”), a rapid growth, technology-first travel marketplace with a portfolio of globally recognized brands in the leisure, retail and corporate travel sectors, in its business combination agreement with ITHAX Acquisition Corp. (NASDAQ: ITHX) (“ITHAX”). Upon completion of the transaction, which is expected to occur in the first half of 2022, the combined company will retain the Mondee name and is expected to be traded on The Nasdaq Stock Market, LLC (“Nasdaq”) under the new ticker symbol “MOND.”
Founded in 2011, Mondee is modernizing and disrupting the travel market. Mondee’s technology-led growth strategies have produced a strong financial and market track record, especially within the legacy-anchored travel industry. Mondee is now well-positioned to continue these market growth and financial performance trends by leveraging its agile technology platforms, feature-rich product offerings and segment-targeted content to serve the rapidly accelerating gig economy and next-generation travel demand.
“Mondee developed industry-changing technology that transformed the existing antiquated travel infrastructure with a modern agile platform. Our platform and industry relationships provide the right marketplace with the right tools and the right content offerings to enable and accelerate our customers’ success. Today’s announcement marks the beginning of the next chapter of our growth as the travel market continues to normalize,” said Prasad Gundumogula, Founder and CEO of Mondee. “Mondee’s vision is to transform the entire travel industry, as it already provides ‘travel solutions in a box’ to an extensive network of leisure travel agents, gig-economy workers, corporate and closed membership groups, connecting them seamlessly to a deep pool of airline, hotel, package and ancillary content. The next step in Mondee’s evolution is to continue expanding its content offering by enhancing hospitality options in the vacation rental space and digitizing the cruise and tours segments, while strengthening its distribution program further with subscription-based models for gig economy workers, small and medium sized enterprises, and association members. We are thrilled to partner with the ITHAX team as we look to accelerate our growth across existing channels as well as in new segments, both organically and through M&A.”
“Union Square Advisors is incredibly pleased to once again partner with Prasad and the Mondee team in this next phase of the Mondee journey,” said Devon Ritch, Partner at Union Square Advisors.
Read the full press release here.
About Mondee Holdings
Mondee Holdings is a group of leading travel technology, service, and content companies driving disruptive innovative change in the leisure, corporate, and retail travel markets. They deliver a revolutionary technology platform of SaaS, mobile, and cloud products and services to a global customer base, processing over 50 million daily searches and multi-billion dollars of transactional volume yearly. Founded in 2011, Mondee is headquartered in Silicon Valley, California, with 17 offices in USA and Canada, and operations in India, Thailand, and Ireland. For more information, please visit https://www.mondee.com.
About ITHAX Acquisition Corp
ITHAX Acquisition Corp. (NASDAQ: ITHX) is a blank check company formed by the founder of Ithaca Capital and the principals of AXIA Ventures. Ithaca Capital is a real estate investment manager with focus on deep-value hospitality investments in the United States, Latin America and Caribbean. AXIA Ventures Group is a leading, independent, privately-owned investment bank founded in 2008 that provides services in more than 20 countries through its offices in New York, London, Milan, Athens and Nicosia. For more information, please visit https://ithaxacquisitioncorp.com.
About Union Square Advisors
Union Square Advisors is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution, agented private capital financing, and debt capital markets advisory services. Founded in 2007, with offices in San Francisco and New York, Union Square Advisors works with leading public and private technology companies, private equity, venture capital, and family offices. Our expertise spans many aspects of the technology landscape, including Enterprise Software and Infrastructure, FinTech, Healthcare IT, Internet+Digital Media, eCommerce, Consumer Software, AIoT & Industrial Technology and other key segments. Since inception, Union Square Advisors has advised on more than 150 strategic transactions, valued in excess of $115B. For more information, please visit http://www.usadvisors.com.