Ixigo, an online travel search platform has announced its acquisition of Square Hoot Hikes Pvt Ltd, the parent company of Rutogo, an inter-city cabs marketplace. The financial term of the deal has not been disclosed.
Founded three months ago by Aneesh Rayancha and Venus Dhuria, Rutogo functions as a marketplace where more than 100 cabs from different parts of the country are brought under the single platform and customer can choose an operator based on price, availability and the reviews.
Quite recently, Ixigo has launched their meta-search Android app for cabs called Ixigo Cabs that allow users to search on other app-based taxi providers like Ola, Uber and Easy cabs in a matter of second and book it at ease. According to the data, it has been downloaded 100,000 times and has active users more than six million per month.
Co-founder and CEO of Ixigo, Aloke Bajpai said, “This acquisition fits well with our overall strategy of providing comprehensive choice across intra-city and inter-city taxi booking options. We will be launching outstation taxis in the coming weeks, and will also be opening up the cabs marketplace and partner with other booking apps in the inter-city taxis space shortly.”
Inter-city travel seems to be much sought after by the cab hailing service providers. Uber Technologies Inc has also introduced inter-city cab service between Mumbai and Pune. So, does Meru cab that offers both inter and intra-city cabs. Further to the acquisition, Rutogo’s team will team up with Ixigo to scale up its new intercity cab marketplace.
Venus Dhuria, co-founder of Rutogo said, “The market potential for app-based taxi booking is estimated to be worth $9 billion and inter-city cab booking will form a majority of that, given the higher value of such transactions.”
In the past one month time, Rutogo is the second acquisition for Ixigo, which has earlier accqi-hired a budget traveler-focused online community IndianBacker.com. Also recently, Indian mobile phone manufacturer Micromax made an undisclosed strategic investment in Ixigo through which the travel company expects to target more than 30 million active users by the end of 2016.