iXiGo.com Gets Funding From Singapore Based Fund!
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I first came across iXiGo at the first proto.in event (which im a part of) way back in January 2007. I remember meeting Aloke and Dharmendra the founders of iXiGo and mentioning to them that I liked their presentation but I felt they need to look more like a search engine and less like an OTA (Online Travel Agent) i.e. they needed to get rid of irrelevant ads on the right and focus the user on doing just one thing on their homepage i.e search for flight tickets.
The next thing i knew was they took my unsolicited advice and did just that! Great sign on entrepreneurs who dont only listen but also act on feedback. So im very pleased to know that iXiGo has finally raised funding from a Singapore based Fund called BAF Spectrum that invests in fast-growing and highly scalable Asian companies with a world market
potential. The Singapore-based fund has committed more than US $14 million for early-stage ventures; partly financed through the Business Angel Scheme (BAF) operated by SPRING SEEDS Capital. The amount of funding remains undisclosed but it will be used for aggressive marketing plans and its innovative strategy to scale-up searchable travel content on iXiGo. (via release sent to us by ixigo.)
On the whole ixigo does well to find me the best deal but one of my concerns is that I never actually complete a transaction on ixigo I use it as a search engine to know about the best deals and then go on that particular airlines site to book the ticket! Call it stupidity or just plain “I want to buy from the actual vendor” attitude but im sure many OTA’s also face a similar issue where users search and then book from the airline site.
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