Ø Ixigo developing into an online travel agency (OTA)
Ø Company claims to have a net worth of $16.2 million for FY19
Ø Ixigo has been expanding its target on tier 2 and 3 cities, alongside smaller towns
Ixigo is one of India’s leading online and mobile travel services and planning application. Launched in June 2006 by IIT Kanpur batch mates Aloke Bajpai and Rajnish Kumar, Ixigo aggregates and compares on-the-spot travel information, prices and availability of flights, trains, buses, cabs, hotels, packages, and destinations. After finishing his studies in Singapore, Bajpai met his then classmate Kumar (Co-founder) and they both decided to begin Ixigo, a travel search engine website.
Ixigo, which started as a travel meta-search engine, has been unhurriedly developing into an online travel agency (OTA) and has registered exceptional conversion on its platform. The company is looking to add content and entertainment to become a go-to online portal for digital entertainment during travel, mainly for the railway trip.
“We want to be pertinent to a passenger for the whole his/her journey, pre-post and during the journey.” Aloke Bajpai said. “We recently began occupying with content within the app, with news, radio, and games, and are also going to link up with OTT and authentic content players for this,” he added.
Ixigo has already associated with digital entertainment platforms ALTBalaji and Khabri. The company has observed astounding development in 2018-19 o the back of more transactions and by adding on new categories while keeping a tab on the marketing expenditure.
The Gurugram-based claims to have an estimated net worth of $16.2 million (INR 113.5 crore) for FY19. Comparing to the last year, there has been a growth of 65% from $9.8 million (INR 69 crore) in the previous year. The company also claims to have generated $214 million (INR 1,500 crore) in gross merchandise volume (GMV) in FY19.
Bajaj later says, “Ixigo is turning more of a transaction business now. Two-thirds of our GMV is waving through our dais, rather than from our partners.” Ixigo has been expanding its target on tier 2 and 3 cities, alongside smaller towns, as it looks to involve new internet users.
Currently, 60% of the portal’s traffic is generated through and more than 50% of the transactions take place from smaller towns and cities. The company estimates the benefaction from smaller towns for further advancement. Bajpai claims to have growth in smaller towns such as Indore, Lucknow, Patna and, Pune as fast as any metro city.
Aloke Bajpai and Rajnish Kumar, launched a travel search website that assists more than 80 Million travellers, proving them details and offers from 25,000+ portals and offline partners too. To improve its service and customers experience, Ixigo is working on new innovative technology like artificial intelligence (AI) and machine learning (ML).
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