Ixigo, which competes with Google's hotel and flight search, said that its FY19 net revenue has increased to Rs 113.5 crore from Rs 67.73 crore in FY18. It counts Sequoia Capital India, Fosun RZ Capital, SAIF Partners, MakeMyTrip and Micromax among its investors.
Travel and hotel booking aggregator Ixigo, which competes with Google’s hotel and flight search, said that its FY19 net revenue has increased to Rs 113.5 crore from Rs 67.73 crore in FY18 while its gross transaction value (GTV) crossed Rs 1,584 crore in FY19. It counts Sequoia Capital India, Fosun RZ Capital, SAIF Partners, MakeMyTrip and Micromax among its investors.
Ixigo claimed of more than 30 million active users primarily on mobile and 3 million daily active users along with close to 130 million app downloads. Its users spent more than 2.5 hours monthly on the app along with over 200 million monthly travel searches, the company said in a statement. However, it wasn’t clear whether the figures are combined for Ixigo all three apps – for train booking, for flight, hotel, and bus booking; and lastly for cab booking.
Ixigo’s 60 per cent of the traffic and 50 per cent of the transactions respectively come from Tier II and Tier III cities. The company didn’t mention the number of transactions it recorded in FY19.
The company’s train ticket booking app, which competes with other travel apps such as MakeMyTrip, Goibibo, and IRCTC Rail Connect, became the 6th most downloaded travel app globally on Google Play, as per worldwide app download data for November 2018 by mobile app analytics platform SensorTower.
Globally, the app, as per the SensorTower ranking shared by Ixigo, was ranked after Uber, Where is my Train, Waze, Grab, and Google Earth.
In terms of top travel apps downloaded in 2018, the app was only third (in terms of overall downloads including Google Play and App Store) after Where is my Train and Ola.
“We knew this fact for a while. We are the largest (travel app) in terms of mobile monthly active users already,” Aloke Bajpai, CEO and Co-founder, Ixigo told Financial Express Online. “We are doing to 6 million downloads a month and have built the brand organically.”
Ixigo growth comes from the combination of “the best of meta-search marketplace and OTA business models,” said Bajpai who has an employee headcount of around 150 and sees “profitability around the corner now.”
Ixigo is looking at crossing Rs 2,000 crore in annual GTV and 50 million monthly active users in FY20.
The online travel market in India is likely to grow to $13.6 billion by 2021 led by flight and hotel aggregators even as hotels would account for $5.6 billion. Domestic and international flight bookings are expected to grow to $6 billion and $2 billion in size respectively by 2021, said a 2018 report by management consulting firm Praxis Global.
In May this year, Amazon had also forayed into the travel market beginning with flight bookings and had partnered with online travel aggregator Cleartrip for the service that would be offered through its payment arm, Amazon Pay. It competes with online travel agencies including MakeMyTrip, Yatra, Booking.com, Via.com etc.
Ixigo competes with the likes of Google that aggregates flight and hotel booking as a travel search engine and redirects customers to respective OTA for completing the transaction.