Skift Take

Mondee went public via SPAC, then went bankrupt, and now its founder is the majority owner of the privately held company.

Mondee, a booking platform for travel agents, on Friday said that it has been acquired and has exited Chapter 11 bankruptcy. 

A company called Tabhi “acquired substantially all the assets of Mondee Holdings” and invested an undisclosed amount of equity, which it said “significantly” reduces debt and other obligations. 

Mondee now operates as Tabhi.

Tabhi’s owners include affiliates of TCW Asset Management Company, Morgan Stanley Investment Management, and Mondee co-founder and chairman Prasad Gundumogula.

Gundumogula made a “substantial personal cash investment” in the Mondee acquisition and “now holds a majori