Ixigo Explained

ixigo
Logo Alt:New ixigo.com logo
Industry:Online travel agency
Founder:Aloke Bajpai
Rajnish Kumar
Location City:Gurugram, Haryana
Location Country:India
Owner:Le Travenues Technology Ltd
Key People:Aloke Bajpai
Rajnish Kumar
Revenue: (FY24)
Net Income: (FY24)[1]
Type:Public

ixigo (pronounced "ik-si-go") is an Indian online travel portal headquartered in Gurugram. Launched in 2007, ixigo aggregates real-time travel information, prices and availability for flights, trains, buses, and hotels, and allows ticket booking through its associate websites and apps.[2]

History

ixigo (Le Travenues Technology, Pvt. Ltd.) was started by IITK alumni Rajnish Kumar and Aloke Bajpai in June 2007, with the launch of their flights metasearch website.[3] [4] In 2008, it introduced a hotel search engine on its website.[5]

In early 2014 ixigo launched its train ticket booking app.[6]

In February 2021, ixigo acquired the train discovery and ticketing platform Confirmtkt in a cash and stock deal.[7] In August 2021, ixigo acquired the bus ticket booking and fleet management portal AbhiBus in a cash and stock deal.[8]

The company went public in June 2024, listing on NSE and BSE.[9]

Funding

In August 2011, ixigo received $18.5 million investment from SAIF Partners and MakeMyTrip. In June 2015, smartphone maker Micromax Informatics invested an undisclosed amount in ixigo.[10] In March 2017, ixigo closed a funding of $15 million in Series B round by venture capital firm Sequoia Capital India and Fosun RZ Capital.[11]

In July 2021, it raised 53 million in its pre-IPO round led by GIC with participation from investors including Orios Venture Partners, Trifecta Capital, Info Edge Ventures, among others.[12] [13]

Notes and References

  1. News: Ixigo profit more than doubled in FY24 at Rs 73 crore, income up 28% . 5 July 2024 . Moneycontrol . 4 July 2024.
  2. Web site: Kumar . Saurabh . Building a meta-search engine for travel needs . Livemint . 2015-10-27 . 2020-07-10.
  3. News: Ixigo takes aim at MakeMyTrip with ₹1,600-crore IPO . 25 August 2021 . Mint . 24 August 2021 . en.
  4. News: Meet ixigo's Aloke Bajpai And Rajnish Kumar: IIT Batchmates Flying Rs 500 Cr Travel Tech Biz . 14 September 2023 . News18 . 5 June 2023 . en.
  5. News: iXiGO launches hotel search engine . 25 August 2021 . exchange4media . en.
  6. News: Gooptu . Biswarup . Travel meta-search company Ixigo's next bet is on rail ticket sales . 5 May 2020 . The Economic Times . 10 September 2018.
  7. News: Ixigo buys train booking firm Confirmtkt to boost presence in small towns . 25 August 2021 . The Economic Times.
  8. Web site: Ixigo acquires AbhiBus as pandemic continues to churn travel industry . The Economic Times . 25 August 2021.
  9. News: Podishetti . Akash . Ixigo shares debut at 48.5% premium over issue price . 19 June 2024 . The Economic Times . 18 June 2024.
  10. News: Micromax invests in mobile travel search engine ixigo. @businessline. 2018-07-03. en.
  11. News: Sequoia, Fosun invest $15 mn in travel marketplace ixigo . 27 August 2021 . VCCircle . 22 March 2017.
  12. News: Ixigo raises $53 million led by Singapore's sovereign wealth fund GIC . 27 August 2021 . The Economic Times.
  13. News: Travel platform ixigo files for Rs 1,600-crore IPO. The Economic Times. 2021-11-28.