Top News

iXiGO.com gets 1st round of funding from BAF Spectrum

Travel search engine iXiGO.com has received an undisclosed sum of first-round financing from Singapore-based investment firm BAF Spectrum. According to iXiGO, the investment will fund its aggressive marketing plans and its innovative strategy to scale-up searchable travel content.

Travel search engine iXiGO.com has received an undisclosed sum of first-round financing from Singapore-based investment firm BAF Spectrum. According to iXiGO, the investment will fund its aggressive marketing plans and its innovative strategy to scale-up searchable travel content.

William Klippgen, executive director, BAF Spectrum, considered one of the most successful internet pioneers in Europe, is joining iXiGO’s board of directors. William Klippgen co-founded Zoomit.com which merged with Kelkoo to form Europe’s leading price-comparison mega-portal. Kelkoo was later acquired by Yahoo in 2004 for more than $550 million.

“Online travel purchases are driving the expansion of e-commerce in India. With an increasing number of online travel vendors, a comprehensive and transparent search engine is becoming a strong need for value-conscious Indian travellers. We were impressed by iXiGO’s unique technology, strong organic growth and its passionate team’s seasoned understanding of the space. We strongly believe that iXiGO’s approach to online travel will become the dominant model very soon,” William Klippgen has said.

“BAF Spectrum shares our philosophy and brings a wealth of skills, resources, and experience to iXiGO. We are betting big on hotels to power the next phase of our growth and this relationship will assist us in our rapid brand-building efforts across India,” Aloke Bajpai, founder and CEO, iXiGO, has said. Launched in June 2007, iXiGO has been named as one of the most innovative startups in the world by Red Herring magazine and Nasscom.

According to the travel search company, iXiGO’s rapid growth is a direct result of its disruptive model that allows travellers to search and book directly on airline sites, saving them time and money while reducing distribution costs for airlines. iXiGO claims that a comprehensive study conducted by the firm revealed that more than 80 per cent of the time big online travel portals sell tickets at a higher price than the airline’s own website. [Editor: Would be interesting to see how online travel companies react to that claim!]

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close