Last Updated on March 27, 2023 by admin
Indian Ixigo 200M 850MEconomicTimes, an Indian travel search platform, recently raised $200 million in a funding round led by Coatue Management, a New York-based hedge fund. The company’s valuation has reached $850 million with this funding round, making it a unicorn in the Indian travel industry. The Economic Times, one of India’s leading business newspapers, reported the news.
In this article, we will delve deeper into Ixigo’s journey, its business model, it’s latest funding round, and what the future holds for the company.
Indian Ixigo 200M 850MEconomicTimes Journey
Indian Ixigo 200M 850MEconomicTimes was founded in 2007 by Aloke Bajpai and Rajnish Kumar, two former employees of Amadeus, a global travel technology company. The company started as a meta-search engine for flights and hotels, allowing users to compare prices and book tickets directly from airlines and hotels.
In 2011, Ixigo launched its train search engine, quickly becoming popular among Indian travelers. The platform allows users to search for train schedules, availability, and fare information and book tickets directly from the Indian Railways website.
Over the years, Ixigo has expanded its offerings to include bus tickets, cabs, and holiday packages. The company has also introduced several innovative features, such as PNR prediction, which predicts the likelihood of a waitlisted train ticket getting confirmed, and a fare alert system, which notifies users when the price of a flight or hotel drops.
Today, Ixigo is one of India’s most popular travel search platforms, with over 250 million monthly active users. The company claims to have helped over 100 million travelers book their trips since its inception.
Business Model
Airlines, hotels, and other travel service providers pay commissions to Indian Ixigo 200M 850MEconomicTimes based on its business model. When a user books a ticket or makes a reservation through the platform, Ixigo earns a commission from the service provider.
The company also earns revenue from advertising. Ixigo’s platform displays targeted ads from travel service providers, such as airlines and hotels, based on the user’s search history and preferences.
Indian Ixigo 200M 850MEconomicTimes Latest Funding Round
Coatue Management, a New York-based hedge fund that has previously invested in other Indian startups such as Swiggy, Byju, and Zomato, led Indian Ixigo 200M 850MEconomicTimes‘ latest funding round. The funding round also saw participation from several existing investors, including Sequoia Capital India and Elevation Capital.
According to Economic Times, Ixigo plans to use the funds to expand its offerings and enhance its technology. The company also plans to explore new business opportunities and expand its reach in international markets.
Ixigo’s Co-founder and CEO, Aloke Bajpai, said, “We are thrilled to have Coatue on board as we continue on our journey to build the world’s most convenient and personalized travel platform. With this funding, we will continue to invest heavily in our technology and AI capabilities to further simplify the lives of travelers and bring them closer to their travel goals.”
What the Future Holds
Indian Ixigo 200M 850MEconomicTimes’ latest funding round comes when the Indian travel industry is slowly recovering from the impact of the COVID-19 pandemic. While the industry faced a significant downturn in 2020, there are signs of recovery as more people resume travel.
Deloitte India predicts that the Indian travel industry will experience a compound annual growth rate of 13.7% from 2019 to 2025. The report cites rising disposable incomes, increasing tourism, and government initiatives as crucial growth factors.
Ixigo is well-positioned to take advantage of this growth. The company has a strong brand presence and a loyal user base. It has also quickly adapted to changing market conditions, such as the shift towards contactless and touchless travel during the pandemic.
Ixigo’s focus on technology and innovation has also been a critical factor in its success. The company has invested heavily in AI and machine learning to provide personalized recommendations and customized travel experiences for its users. It has also introduced several new features, such as voice-based search and chatbots, to enhance the user experience.
Looking ahead, Ixigo has ambitious plans for the future. The company aims to become the world’s most convenient and personalized travel platform, offering its users a seamless and hassle-free travel experience.
One of the areas where Ixigo sees significant growth potential is international travel. The company plans to expand its offerings to include international flights, hotels, travel insurance, and visa services.
Ixigo also plans to leverage its technology and data capabilities to create new revenue streams. The company is exploring opportunities in areas such as B2B travel services and data analytics, which could help it diversify its revenue streams and reduce its dependence on commissions and advertising.
Conclusion
Indian Ixigo 200M 850MEconomicTimes’ latest funding round is a testament to the company’s success and potential for future growth. Ixigo has a strong brand presence, a loyal user base, and a focus on innovation and technology, which positions it well to capitalize on the growth opportunities in the Indian travel industry.
The company’s expansion into international travel and exploration of new revenue streams could further bolster its position in the market. As the world slowly emerges from the pandemic and its journey resumes, Ixigo’s role in simplifying and enhancing the travel experience for millions of users is likely to become even more significant.
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