iXiGO.com, the travel search engine, has announced an equity infusion from SAIF Partners, a leading Asian private equity & venture capital fund, and MakeMyTrip Limited, India’s leading online travel company, for a total cash consideration of $18.5 million across investment into the company and purchase of shares from existing shareholders. Immediately post this transaction, SAIF Partners and MakeMyTrip Limited would own 56.7% and 19.9% respectively of the company, Le Travenues Technology Private Limited (Ixigo’s parent company).
iXigo will use this funding to expand internationally. The company earlier acquired Tripmela and launched iPhone app for the international audience.
76.6% owned by external investors? What’s your take on iXiGo’s raising money from MMT (a potential acquirer?).
Recommended Read: iXiGo Story