RateGain Travel Technologies IPO: Information analysis

RateGain Travel Technologies (after this referred to as 'RateGain') is the largest Software-as-a-Service company (SaaS) in India's hospitality and travel industry. It offers travel and hospitality solutions across various verticals including hotels, airlines, online travel agents (OTAs), vacation rentals, car rentals and cruises among others. Its suite of products leverage its big data capabilities and help hospitality and travel providers acquire more guests, retain them via personalised guest experiences and seek to maximise their margins. The company builds technologies around the guest acquisition and pricing intelligence. It delivers the solutions through its SaaS platform. Its products are classified under three strategic business units: a. Data as a Service (DaaS) - provides real-time competitive pricing insights, makes sure that prices are not dissimilar across various platforms so that the customer gets to benefit from their ad spending and helps companies make better pricing decisions. Revenue is earned through a subscription model and a hybrid model (minimum subscription fee + pay-per-use). This segment contributed 37.2 per cent to FY21 revenue. b. Distribution - provides availability, rates, inventory and content connectivity between accommodation providers (like Expedia) and th