Ixigo is an intelligent, AI-based travel online portal founded by Rajnish Kumar and Aloke Bajpai with over 150 million users. Ixigo was launched in 2007 and allows Indian travellers to organize, book, and track trips from 120+ travel suppliers and OTAs across flights, trains, hotels, buses and cabs. Ixigo’s vision is to empower travellers with trustworthy and personalized travel recommendations.
Start-up Story of Ixigo
The entrepreneurial bug was always there inside the IIT Kanpur wing mates-cum-colleagues, Aloke and Rajnish. However, they were somewhere trapped in the 35-hour per week work rule in the French corporate Amadeus. To disentangle themselves from the clutches of the work life, both of them decided to leave their high-paying jobs in Europe and returned to India in 2006, fully geared up to follow their dreams. They rented a studio apartment in Gurgaon and set up their workplace.
In the initial phase the Ixigo founders didn’t have a clue of what they were going to do with the entrepreneurial itch that they nurtured but soon they found out how painful it was making travel bookings for several destinations in India. This gave them the impetus to start up with a travel meta search website for flights in India in 2007. For a year, they worked with no salaries. Over their persistence, Ixigo was born.
About: How it works
Ixigo is the fastest growing and most trusted travel app in the market. Ixigo trains app has become the world’s 6th most downloaded travel app on the Google Play store as per analytics platform Sensor Tower’s 2018 report. It is also the 2nd most downloaded travel app in India. The company has played a pioneering role in launching innovative products in the travel space driven by AI, Voice, and ML. Over the past few years, Ixigo has won an impressive string of awards and accolades.
Ixigo is a technology company focused on empowering Indian travellers to plan, book, and manage their trips across rail, air, buses, and hotels. Ixigo assists travellers in making smarter travel decisions by leveraging artificial intelligence, machine learning, and data science led innovations on their OTA platforms, comprising of websites and mobile applications.
Mission and Vision
People who wanted to travel to a different city earlier had to go through a rigorous and cumbersome process of ticket booking and sorting out accommodation through offline mediums. What the country really needed was a portal that could shorten the worries of travellers through innovative travel planning products. This was when Aloke Bajpai and Rajnish Kumar founded Ixigo in 2007.
Ixigo’s vision is to become the most customer-centric travel company. Ixigo’s vision is to become the most customer-centric travel company by offering the best customer experience to the users. Ixigo’s focus on travel utility and customer experience for travellers in the ‘next billion users’ segment is driven by technology, cost-efficiency, and their culture of innovation that has made them India’s leading travel ecosystem for the next billion users.
There was news several months ago that the Travel Aggregator “Ixigo” unlisted Shares fell nearly 5% in a month amid resurging Covid Concerns.
Moreover, shares of hospitality and travel companies were largely under pressure off late due to the fears regarding the Omicron variant of Covid-19 and resultant enforcement of restrictions and curfews by several state governments, which was bound to impact the travel and hospitality companies.
The Securities and Exchange Board of India (SEBI) recently approved the INR 1,600 Cr initial public offering (IPO) of Le Travenues Technology, which operates travel platform Ixigo. The approval, however, has not been able to boost the investor sentiments for its stocks in the unlisted space.
Travel Aggregator “Ixigo” INR 1600 Cr Public Offer
Moreover, the IPO will also consist of a fresh issue of INR 750 Cr worth of shares and an OFS amounting to INR 850 Crores. Its DRHP was approved by SEBI on December 16th, 2021. Ixigo posted a profit of INR 7.53 Cr in FY21, compared to a loss of INR 26.6 Cr in FY20.
Over the past one month, the prices of its unlisted shares have been largely subdued and have declined in the range of 2.5%-4.8% to INR 195-INR 200 per share. Its unlisted share price was in the range of INR 200-INR 210 a month ago.
“At Ixigo, corporate social responsibility lies at the centre of our vision and mission”, says the Ixigo website.