Indian travel booking and search aggregator ixigo on Thursday said that it has clocked over Rs 113.5 crore in net revenues in FY19. With this, the firm states that it is on path to achieve profitability this financial year (FY20).
In addition to this, the Gurugram-based online marketplace said that it has crossed Rs 1,584 crore of GTV (Gross Transaction Value) in FY19, and is all set to cross an annual GTV runrate of Rs 2,000 crore currently.
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The platform has over 30 million monthly active users, who predominantly access the platform on mobile. Ixigo at present has close to three million daily active users and nearly 130 million app downloads.
In addition to this, the company stated that ixigo users spend over 2.5 hours every month on the app, doing over 200 million monthly travel searches.
With the help of localised content available in eight Indian languages, the platform is aiming to cross 50 million monthly active users within FY20.
Sixty percent of the total traffic and 50 percent of transactions on ixigo are now being driven from Tier II and II geographies, ixigo stated.
Commenting on the company’s focus on product innovation, Rajnish Kumar, Co-Founder & CTO, ixigo said,
“A big driver of growth has been ixigo trains. At the same time, we do a lot of active customer development to empathise with the hardships train travellers face in finding the right information and in making online transactions. The learnings help us to build innovative AI-led features that provide the right information at the right time to our users, making their journeys frictionless."
Rajnish also added that ixigo's focus on customising features to serve the needs of its target audience in Tier II and III geographies has also helped them in achieving the desired growth.
Launched in 2007, ixigo allows users to compare and book from more than 120 travel suppliers and OTAs (online travel agency) across flights, hotels, trains, cabs, destinations.
Commenting on the travel platform’s growth trajectory, Aloke Bajpai, Co-founder & CEO, ixigo, said,
“Ixigo has emerged as a unique travel business that combines the best of meta-search marketplace and OTA business models to provide an unparalleled customer experience to Indian travellers. Customers love us for our product, and the word of mouth we generate helps us grow without spending a lot on brand or performance marketing. We are also proud of our capital efficiency, having achieved what we have with a team of just 150 people. We can see profitability around the corner now."
The platform is backed by investors including Sequoia Capital India, Fosun RZ Capital, SAIF Partners, MakeMyTrip, and Micromax.
Tarush is driven towards delivering unbiased and accurate reportage while engaging with as many mediums as possible to narrate a fresh perspective. Working for the past few years in the digital space with YourStory, he has covered the Indian technology ecosystem extensively, focusing on new age Fintech companies, while building strong connects within the industry.