It is hard to build a profitable internet business at scale in India, but not impossible. Let me talk about ixigo's FY2020 performance. But first, the back story (with @rajnishkumar)
FY2017: 22 crores revenue. FY2018: 67 crores revenue.
3x growth in a year. Something was working !
1. Instead of discounting, focus on organic and product-innovation led growth (our original mojo)
2. Become a full-blown OTA and build our own customer experience grounds up.
3. Get back to the frugal mindset we began with.
2020 JFM Quarter, we touched nearly 30 million monthly active users, and we also had our first fully profitable quarter. None of this possible without the ixigems putting in 12-15 hours a day!
153 crores Net Revenue (35% YoY growth)
5.4 crores EBITDA Loss (87% Profitability Improvement)
Cash-flow Positive
The "how we survived COVID" story is for some other day. But tomorrow, a big announcement coming ...
More from Business
Facebook originally a CIA program called "LifeLog".
LifeLog, via DARPA, terminated on Feb 4th, 2004.
Facebook was launched on Feb 4th, 2004.
Many of the LifeLog team became execs at FB.
Zuckerberg is a figurehead.
CIA allowed Cambridge to help Trump win
https://t.co/enzOXDCogV
Pentagon Kills LifeLog
LifeLog, via DARPA, terminated on Feb 4th, 2004.
Facebook was launched on Feb 4th, 2004.
Many of the LifeLog team became execs at FB.
Zuckerberg is a figurehead.
CIA allowed Cambridge to help Trump win
https://t.co/enzOXDCogV

Project: Lifelog
— Robert Horan (@Robby12692) December 13, 2018
Started by DARPA in 1999, the goal of Lifelog was to create a database on civilians without their knowledge, and track everything they do.
The project "ended" on Feb 4th, 2004.
Facebook began the exact same day.
The CIA funneled tens of millions into Facebook. pic.twitter.com/r7hwF0v9kh
Pentagon Kills LifeLog