Makemytrip and SAIF jointly acquire iXiGO
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Bangalore:iXiGO.com, one of India's leading travel search engine has been jointly acquired by SAIF Partners and Makemytrip for a total of $18.5 million. This made the sure the companies will co-own 76.6 percent of the existing share holders. SAIF Partners will now hold 56.7 percent and MakeMyTrip would own 19.9 percent. "We are excited about this development. We believe that with the backing of SAIF Partners & MakeMyTrip, we will be able to further enhance our product offering and expand our market penetration among internet & mobile users, both in India and abroad," says Aloke Bajpai, Founder-CEO of iXiGO.com. iXiGo has been a hot startup since it was first demoed in Proto in 2007. Back then, the company was among the first few blogs to conduct an interview with the founder's. "We believe there are synergies in the two business models and both consumers and the travel industry in India have a lot to benefit from this partnership," added Deep Kalra, Group Chairman & CEO, MakeMyTrip. The company raised its first funding in 2008 from a Singapore based investor and they have been on the rise ever since. This present deal this seems to be a good exit for existing investors and also a clever strategic investment for Makemytrip, since it is looking to leverage the search traction that iXiGo gets from users.

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