make my trip wikipedia

• Work in Progress

A new journey for MakeMyTrip after merger with Ibibo Group

MakeMyTrip founder Deep Kalra, who pioneered online travel in India, has constantly adapted to market conditions. And with the company's merger with ibibo Group, he is once again set to change the contours of the travel industry

• Most Popular

Based in Delhi, I track developments both in corporate and economy sectors. In a career spanning since 2003, I track developments pertaining to M&A, PE/VC, startups and healthcare. Prior to joining Forbes, I have had stints with The Economic Times, Businessworld, India Today and Indian Express. I am also a guest faculty at The Indian Institute of Mass Communication (Dhenkenal) where I deliver part-time lectures to young aspiring journalists and teach them the practical side of reporting and editing. And when not working, I love to travel and spend time with my fawn Labrador.

• We consider ourselves a multi-local company: Eric Festy of Hermès
• With Lybrate, a doctor is just a click away
• PVR plans to invest about Rs 800 crore over next 3-4 years
• To attain grand status, a brand must be a luxury player globally: William Grant & Sons CEO
• There was no fixed date for demonetisation: Raghuram Rajan
• The idea was to start something that was Indian: Kama Ayurveda co-founder
• School dropout becomes much sought after cyber security expert
• Malvinder and Shivinder Singh exit Religare Health Insurance
• Returns on rice: The making of India's biggest basmati exporter
• Mamaearth focuses on toxin-free baby care products

(This story appears in the 23 December, 2016 issue of Forbes India. To visit our Archives, click here. )

• " class="general-icons icon-sq-googleplus popup">
• " class="general-icons icon-sq-youtube">

SUBSCRIBE NOW

AR Rahman: From the Oscar in 2009, to musical innovations

France's historic D-Day beaches threatened by rising sea levels

Photo of the Day: 2024 French Open

Photo of the Day: India's election comes to a close

From Grip Invest's securitised debt instruments to the legacy of Zardozi: Our most-read stories of the week

UN urges businesses to make progress on women's sexual health

At 8.2 percent, India's GDP growth continues to surprise

Can Jio subsidiary Radisys succeed in its ambitious 5G technology African venture?

Gen Z, the X factor and smartphones: Inside HMD's bold gambit

Seine still failing water tests two months from Paris Olympics

Career advice: How to become a "friction fixer"

Petcare brand Heads Up For Tails launches its first store in Singapore

RFK Jr. calls for end to 'hostile' crypto policies in US

Israel- Palestine: Two states, one long conflict

Bid to 'privatise' Brazil beaches sparks outcry

• Business Today
• India Today
• India Today Gaming
• Cosmopolitan
• Harper's Bazaar
• Brides Today
• Aajtak Campus

• Magazine Cover Story Editor's Note Deep Dive Interview The Buzz
• BT TV Market Today Easynomics Drive Today BT Explainer
• Market Today Trending Stocks Indices Stocks List Stocks News Share Market News IPO Corner
• Tech Today Unbox Today Authen Tech Tech Deck Tech Shorts
• Money Today Tax Investment Insurance Tools & Calculator
• Mutual Funds
• Industry Banking IT Auto Energy Commodities Pharma Real Estate Telecom
• Visual Stories

INDICES ANALYSIS

Mutual funds.

• Cover Story
• Editor's Note
• Market Today
• Drive Today
• BT Explainer
• Trending Stocks
• Stocks List
• Stocks News
• Share Market News
• Unbox Today
• Authen Tech
• Tech Shorts
• Tools & Calculator
• Commodities
• Real Estate
• Election with BT
• Economic Indicators
• BT-TR GCC Listing

'Marwaris knew it long back': MakeMyTrip founder Deep Kalra explains why 'unit economics' matters

Makemytrip founder deep kalra said, “the closest of friends around me were saying, ‘what are you doing’.” there was nothing going on and if you don’t draw a salary for 18 months, it starts causing stress at home also, kalra acknowledged..

• Updated Nov 10, 2023, 1:42 PM IST

• MakeMyTrip founder Deep Kalra said that in the initial days, the company was floating month-to-month
• But the metrics pointed in the right direction and he decided to continue, Kalra explained
• He stressed on the importance of unit economics, said all the great businessmen and Marwaris knew it

MakeMyTrip was floating from month-to-month during its early days, said founder Deep Kalra, who spoke at length about the initial tough phase before it became the go-to platform for travellers. He said that at that point, the toughest part was to go on. Kalra revealed that his close family and friends even asked him to cut his losses and move on. The MakeMyTrip founder said that he is obsessed about metrics and the metrics pointed in the right direction that enabled him to go on. 

“The metrics are telling you you are moving in the right direction. And for us the holy grail is conversion…I believe repeat is the least celebrated metric and the most important one…are you losing a little less money in every transaction and later are you making more money…even if it is 1 paisa but are you moving in the right direction? That’s what unit economics is…it is common sense. And I think all the great businessmen from this country and the Marwaris knew it long back. Are you getting better in what you are doing, which is efficiency, productivity and unit economics?” said Kalra, adding that if these are positive then you wait for one more month.

Also WATCH:  Gold on Dhanteras and Diwali: Cost of Buying Yellow Metal on this Dhanteras and Diwali

Kalra, speaking at the SenseAI podcast, said, “The closest of friends around me were saying, ‘what are you doing’.” There was nothing going on and if you don’t draw a salary for 18 months, it starts causing stress at home also, Kalra acknowledged. 

Also WATCH:  World Cup 2023 match today: Kane Williamson-led New Zealand vs Kusal Mendis-led Sri Lanka, NZ vs SL squads, Bengaluru rains, weather updates, likely scenarios for NZ, PAK, AFG to reach semi-final

The MakeMyTrip founder said that he saw the company as his last-ditch effort as an entrepreneur. “I tell this to all young entrepreneurs – if you are trying something out, be ready to try this out for 4-5 years, don’t look into the rearview mirror before that. Having enough gas in the tank to try it out because it takes that much time for something to come out. I haven’t seen anyone build a great company by trying for 2 years. You will not know what you missed building. It is so true that the best of companies has not seen the light of day because some founders gave up too early,” he said.

Kalra said that during their trying times, they made a rule that if they are in, they are in for a month, at the end of which they would review again but would not question things in the middle of the month. 

In the podcast, he said that MakeMyTrip’s early days were replete with challenges. Kalra said that a year after raising $2 million, the investors, e.ventures, wanted their money back as the dotcom bust hit India, 9/11 happened in the US, and SARS broke out. Kalra was forced to make some tough choices and cut down on spendings. Many employees departed and they moved from a nice office to a mezzanine one in Okhla Phase 1. 

MakeMyTrip listed on NASDAQ in 2010. The company sold 5 million shares at $14 each, raising $70 million.

Also read:  'Most of us slept in the office': MakeMyTrip founder Deep Kalra recollects early days' hustle

• #MakeMyTrip
• #Deep Kalra

TOP STORIES

• Advertise with us
• Privacy Policy
• Terms and Conditions
• Press Releases

Copyright©2024 Living Media India Limited. For reprint rights: Syndications Today

Add Business Today to Home Screen

MakeMyTrip is an Indian online travel company , which was founded in 2000. [2] Its headquarter is located in Gurugram , Haryana , the company provides online travel services including airline tickets , domestic and international holiday packages, hotel reservations, rail and bus tickets. As of June 2023 , [ update ] the company has 146 active franchisees operating in over 100 cities. [3] MakeMyTrip also has international ofdefe ewtert twt wt3t4t4t 4tt 4 ffices located in New York , Singapore , Kuala Lumpur , Phuket , Bangkok , Dubai , and Istanbul . [4]

MakeMyTrip and Ibibo Group merger

Products and services, booking and ticketing, air-ticketing, bus-ticketing, external links.

In September 2019, Ctrip / Trip.com Group , the largest online travel agency in China and one of the largest travel service providers in the world, [5] completed a share exchange with Naspers and became the single largest shareholder of MakeMyTrip. [6] [7]

In 2016, MakeMyTrip acquired the Ibibo group, which owned sites such as Goibibo and Redbus.in . [8]

Founded by Deep Kalra , [2] an alumnus of IIM-Ahmedabad in year 2000 MakeMyTrip was launched in US market to cater to the overseas Indian community for their US to India travel needs. It started its Indian operations in September 2005 by offering online flight tickets to Indian travellers and also started focussing on non-air businesses like holiday packages and hotel bookings. [9]

MakeMyTrip limited was listed on the NASDAQ on 17 September 2010 after its initial public offering . [10] MakeMyTrip also acquired Luxury Tours and Travel Private Limited ( Singapore ), ITC Group Hotel Travel Group, and ETB Group—to enter new markets in Southeast Asia and Europe . In September 2014, MakeMyTrip instituted a $15 million innovation fund to support travel start-ups. [11] In April 2015 MakeMyTrip acquired MyGola, a travel planning website. The acquisition was done through the innovation fund, and all employees of MyGola were absorbed into the MakeMyTrip team. [12]

In July 2015, MakeMyTrip invested in the travel information and hotel review portal HolidayIQ and picked up approximately 30% stake in the company. [13] In the same month, it invested $5 million in a startup called Bona Vita. [14] In January 2016, the travel booking company Ctrip agreed to invest $180 million in MakeMyTrip. [15] In March 2018, the company had 14 company-owned travel stores across 14 cities. [16] [17] The company acquired the Mumbai -based corporate travel management company Quest2Travel for an undisclosed amount in 2019. [18]

The company launched myPartner in 2020, a platform for travel agents. [19] In May 2021, the company entered into a strategic partnership with the digital payment arm of Amazon ⁣—⁣ Amazon Pay for providing travel services on Amazon. [20] By March 31, 2022, the company had over 125 franchisee-owned travel stores throughout India. [21] They also leased offices in South-East Asia , Dubai , the USA, and Latin America . [4] [22] In April 2022, TripMoney, the fintech arm of MakeMyTrip, announced the acquisition of BookMyForex, an online foreign exchange services provider, BookMyForex. [23]

As of June 2023, they have 146 active franchisees operating in over 100 cities. [24] They also have international offices located in New York , Singapore , Kuala Lumpur , Phuket , Bangkok , and Dubai . [4]

In 2016, MakeMyTrip and Ibibo Group , India 's largest travel booking portals, merged through a stock transaction. Through this transaction, MakeMyTrip acquired its rival, Ibibo Group, in one of the biggest acquisition in India's online travel space. [8]

MakeMyTrip provides flights, places to stay, villas and homestays, rail and bus tickets, inter-city cab service, holiday packages, forex, and hotel booking services on its portal. In 2012, MakeMyTrip launched travel mobile applications for Windows Phone , iPhone , Android , and Blackberry devices. In 2012, MakeMyTrip launched routeplanner, allowing users to search across 1 billion routes and modes within India. [25] It provides information on distance, available modes of transport (flights, trains, buses, cabs), estimated duration, and fares. [26]

The company started its air ticketing operations in 2000 under the MakeMyTrip brand. Their air ticketing business primarily serves domestic and international travel to and from India. [27] In 2017, they expanded their operations by acquiring the ibibo Group , which operates the Goibibo brand. [28]

MakeMyTrip ventured into the hotels and packages business in 2005 and manages it through MMT India and Goibibo . [29] As of 2020, it had over 60,000 accommodation properties in India and 5,00,000 outside the country listed on its site. [30]

The company owns and operates its bus ticketing business primarily through redBus , an online platform for bus ticketing. [31] The company has partnerships with various major bus operators in India, Peru , Colombia , and select countries in Southeast Asia . [32]

Related Research Articles

Priceline.com is an online travel agency for finding discount rates for travel-related purchases such as airline tickets and hotel stays. The company facilitates the provision of travel services from its suppliers to its clients. Priceline.com is headquartered in Norwalk, Connecticut, United States and is wholly owned by Booking Holdings, which also owns Kayak.com, Booking.com and other sites. The company was founded in 1997. It operates in more than 200 countries and territories around the world and has partnerships with over 400 airlines and 300,000 hotels. Users can search for travel deals and discounts on the website, and in the past also offered the "Name Your Own Price" feature to bid on hotel rooms and flights.

Tripadvisor, Inc. is an American company that operates online travel agencies, comparison shopping websites, and mobile apps with user-generated content.

Skyscanner is a search aggregator and travel agency based in Edinburgh, Scotland. The site is available in over 30 languages and is used by 100 million people per month. The company lets people research and book travel options for their trips, including flights, hotels and car hire.

Ibibo Group is an online Indian travel organisation founded in January 2007 by Ashish Kashyap. The company is a subsidiary of MakeMyTrip (MMT) Limited, which owns a 100% stake in Ibibo Group.

Flipkart Private Limited is an Indian e-commerce company, headquartered in Bangalore, and incorporated in Singapore as a private limited company. The company initially focused on online book sales before expanding into other product categories such as consumer electronics, fashion, home essentials, groceries, and lifestyle products.

Trip.com Group Limited is a multinational travel service conglomerate with 45,000 employees. It is the largest online travel agency in China and one of the largest travel service providers in the world. Founded in 1999, the company owns and operates several travel fare aggregators and travel fare metasearch engines, including namesake and flagship Trip.com, Skyscanner, Qunar, Travix, and MakeMyTrip. The group operates websites in about 40 languages and 200 countries.

ixigo is an Indian online travel portal headquartered in Gurugram, India. Launched in 2007, ixigo aggregates real-time travel information, prices and availability for flights, trains, buses, and hotels, and allows ticket booking through its associate websites and apps.

Thomas Cook (India) Ltd . is an Indian travel agency, headquartered in Mumbai, India, providing travel services including Foreign Exchange, International and Domestic Holidays, Visas, Passports, Travel Insurance and MICE. Founded in 1881 by Thomas Cook, the founder of the now defunct British brand Thomas Cook & Son, who established its first office in India and eventually extended to over 233 locations, in 94 cities across India, Sri Lanka and Mauritius. Thomas Cook India is a subsidiary of Fairfax Financial Holdings Limited, through its wholly owned subsidiary, Fairbridge Capital (Mauritius) Limited, and its controlled affiliates which holds 67.63% of the company.

Trip.com is a multinational travel service conglomerate with 45,000 employees. It is one of the world's largest online travel agencies with over 400 million users worldwide, and also the parent of Skyscanner. It is headquartered in Singapore.

Booking Holdings Inc. is an American travel technology company incorporated under Delaware General Corporation Law and based in Norwalk, Connecticut, that owns and operates several travel fare aggregators and travel fare metasearch engines including namesake and flagship Booking.com, Priceline.com, Agoda.com, Kayak.com, Cheapflights, Rentalcars.com, Momondo, and OpenTable. It operates websites in about 40 languages and 200 countries.

Naspers Limited is a South African multinational internet, technology and multimedia holding company headquartered in Cape Town, with interests in online retail, publishing and venture capital investment. Naspers' principal shareholder is its Dutch listed investment subsidiary Prosus, which owns approximately 49% of its parent as part of a cross ownership structure.

redBus is an Indian online bus ticket booking company that provides bus ticket booking through its website and iOS and Android mobile apps. It is headquartered in Bangalore and works like a hub, acting as a medium for a network of more than 3500 bus operators, across the countries of India, Malaysia, Indonesia, Singapore, Peru, and Colombia. It claims to have registered over 180 million trips, with a customer base of over 20 million. In 2018, the company achieved a GMV of ₹ 50 billion , with a 70% share in the Indian online bus ticketing segment.

Paytm is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. Paytm was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. The company offers mobile payment services to consumers and enables merchants to receive payments through QR code payment, Payment Soundbox, Android-based-payment terminal, and online payment gateway. In partnership with financial institutions, Paytm also offers financial services such as microcredit and buy now, pay later to its consumers and merchants.

Cleartrip is a global online travel company, headquartered in Mumbai. The company operates an online travel aggregator website for booking flights, train tickets, hotel reservations, and activities in India and the Middle East countries. It holds offices across India, UAE, Saudi Arabia and Egypt.

PayU is a Netherlands-based payment service provider to online merchants. The company was founded in 2002, and is headquartered in Hoofddorp. It allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications. As of 2018, the service is available in 17 countries. The firm is owned by the Naspers Group, which also owns a stake in one of its sister companies, Tencent.

PT Trinusa Travelindo , operating as Traveloka is an Indonesian technology company focused on travel and ticketing. Operating a services website of the same name and based out of Jakarta, Indonesia, Traveloka is active in six countries, and in 2022 remained the largest online travel app in Southeast Asia. Founded in 2012 as a travel search engine, it now also offers services such as attraction tickets, activities, transportation rentals, and restaurant vouchers. It also provides financial services such as credit and insurance. Classified as a unicorn company and regarded as functionally similar to Expedia, in 2022 it was valued approximately at US$3 billion.

Gogobot was an online travel business headquartered in Palo Alto, California. The company was rebranded Trip.com in November 2016 and acquired by the Ctrip Group in 2017. Founded in 2010, by Travis Katz and Ori Zaltzman, by 2014 the company was the fifth most visited travel-planning site in the United States.

EaseMyTrip is an Indian online travel company, headquartered in New Delhi. It was founded in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti. The company provides hotel bookings, air tickets, domestic and international holiday packages, bus bookings, and white-label services. EaseMyTrip has overseas offices in Singapore, UAE and Thailand with country-specific websites for UAE, UK and Thailand.

Prosus N.V. , or Prosus , is a global investment group that invests and operates across sectors and markets with long-term growth potential. It is among the largest technology investors in the world.

InterMiles was the airline's frequent-flyer program of Jet Airways that ceased operations in April 2019, in which 50.1% stake is held by Etihad Airways, part of the Etihad Aviation Group. InterMiles is an independent, loyalty and rewards company formed in 2014. The program has about 10 million members.

• 1 2 "MakeMyTrip bets on hotel business to drive growth" . The New Indian Express . 28 August 2017. Archived from the original on 28 August 2017 . Retrieved 2 January 2019 .
• ↑ Haris, Mohammad (29 March 2023). "MakeMyTrip To Expand Footprint in India, Aims to Grow Franchisees By 50% In 2023" . News18 . Retrieved 10 August 2023 .
• 1 2 3 "Story of MakeMyTrip, the Revolutionary E-commerce" . The CEO Magazine India . Retrieved 10 August 2023 .
• ↑ "Where The Big Four Online Travel Agencies — Expedia, TripAdvisor, Ctrip, & Priceline — Are Placing Their Bets" . CB Insights Research . 9 November 2017.
• ↑ "Completion of Naspers share exchange transaction with Ctrip" (Press release). Naspers . 5 September 2019.
• ↑ "Ctrip Announces Share Exchange Transaction with Naspers" (Press release). PR Newswire . 26 April 2019.
• 1 2 "MakeMyTrip Limited and ibibo Group to combine" . www.naspers.com . Archived from the original on 23 November 2018 . Retrieved 28 October 2018 .
• ↑ "MakeMyTrip Success Story - Becoming India's Top Travel Startup" . StartupTalky . 18 December 2023. Archived from the original on 17 August 2019 . Retrieved 4 May 2024 .
• ↑ "A new journey begins for MakeMyTrip" . Rediff . Archived from the original on 15 August 2010 . Retrieved 23 October 2018 .
• ↑ "MakeMyTrip's early-stage investment fund is an extension to M&A strategy: Magow" . VCCircle . 23 September 2014.
• ↑ Krishnamurthy, Krithika (21 April 2015). "MakeMyTrip acquires travel startup Mygola" . The Economic Times .
• ↑ Chanchani, Madhav (23 June 2015). "MakeMyTrip picks up 28% stake for 95 crore in HolidayIQ to boost hotels & holidays business" . The Economic Times . Archived from the original on 28 July 2015 . Retrieved 2 January 2019 .
• ↑ Jain, Samiksha (30 July 2015). "MakeMyTrip invests $5M in travel start-up Bona Vita, acquires 67% stake" . Entrepreneur . Archived from the original on 10 September 2015 . Retrieved 2 January 2019 .
• ↑ Reporter, B. S. (8 January 2016). "Ctrip buys $180-mn stake in MakeMyTrip" . Business Standard . Archived from the original on 9 January 2016 . Retrieved 2 January 2019 .
• ↑ Marya, Ashita (1 January 2020). "MMT: Game-Changer In The Travel Industry" . Entrepreneur . Archived from the original on 7 June 2023 . Retrieved 10 August 2023 .
• ↑ "MakeMyTrip opens a franchise store in Hubli" . BW Hotelier . Retrieved 10 August 2023 . {{ cite web }} : CS1 maint: url-status ( link )
• ↑ Singh, Rajiv (30 April 2019). "MakeMyTrip Acquires Corporate Travel Firm Quest2Travel" . Forbes India . Archived from the original on 1 May 2019 . Retrieved 10 August 2023 .
• ↑ "MakeMyTrip opens up its hotel inventory to offline travel agents" . Business Insider . Retrieved 10 August 2023 .
• ↑ Abrar, Peerzada (1 November 2021). "MakeMyTrip and Amazon Pay form strategic tie-up to offer travel services" . Business Standard India . Retrieved 28 November 2021 .
• ↑ "MakeMyTrip Limited (MMYT) company profile & facts – Yahoo Finance" . au.finance.yahoo.com . Retrieved 10 August 2023 .
• ↑ "MakeMyTrip plans to enhance business-to-business segment" . Economic Times .
• ↑ Rudra, Tapanjana (5 April 2022). "MakeMyTrip's Fintech Arm Acquires Majority Stake In Foreign Currency Exchange BookMyForex" . Inc42 Media . Retrieved 10 August 2023 .
• ↑ NextBigWhat. "MakeMyTrip launches routeplanner – competes directly with iXiGo?" . www.nextbigwhat.com . Archived from the original on 17 November 2012.
• ↑ "MakeMyTrip launches new travel application" . BusinessLine . 5 February 2013 . Retrieved 10 August 2023 .
• ↑ "MakeMyTrip, Ibibo merge to create mega online travel co" . The Times of India . 19 October 2016. ISSN   0971-8257 . Retrieved 10 August 2023 .
• ↑ "MakeMyTrip acquires ibibo Group for nearly Rs 12,000 crore" . Zee Business . 18 October 2016 . Retrieved 10 August 2023 .
• ↑ Nair, Regina Anthony (14 December 2008). "Online travel firms see spurt in business" . mint . Retrieved 10 August 2023 .
• ↑ "MakeMyTrip taps offline agents to bring back business, post-COVID-19" . Moneycontrol . 25 August 2020 . Retrieved 10 August 2023 .
• ↑ "MakeMyTrip-owned RedBus plans integrated end-to-end online travel solutions" . www.business-standard.com .
• ↑ Sahay, Priyanka (11 July 2016). "redBus acquires majority stake in Peru-based Busportal" . mint . Retrieved 10 August 2023 .
• Official website
• SEC filings

Bookofficenow

Success story of Make My Trip – How Deep Kalra turned his dream project into reality

There are many success stories in the world which have inspired thousands of youngsters to take the risks and start their own venture. In order to keep you motivated, today, we are going to tell you about one such company which started as a scratch and has now become India’s leading travel platform on the internet.

Under the guidance of Deep Kalra, Make My Trip has grown by leaps and bounds. Want to know about his success story or how did he manage to gain such fame? Read on to this blog.

To begin with, let’s understand what kind of a services Make My Trip offers.

About Make My Trip

The million-dollar company, Make My Trip, is one of the most popular online travel services platforms which provides the facilities like bookings of flight tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets etc. It aims to offer a hassle-free experience to the customers throughout their journey.  

How did it begin?

Deep Kalra’s professional career started on a positive note. Soon after completing his MBA from the IIM, Ahmedabad, he went on to work with many big companies such as GE Capital, and ABN AMRO Bank. However, he wasn’t satisfied with this and wanted something more. So, he decided to take a huge risk by quitting his stable and good-paying job. In 1995, he joined an American firm, AMF Bowling, only to realize that this job as well did not worth his talent. As a result, he had to quit yet again.

After exiting the American company, Kalra began the old-age brainstorming session and that’s when he realised the growing dominance of online industry. But the main challenge for him was to choosing a particular niche to start his own startup. Deep did a research meticulously and noticed that with all the brokers, agents & middlemen in place, the online travel booking industry was quite messier at that time.

Hence, with an investment of USD 2 million and three partners, Sachin Bhatia, Keyur Joshi, and Rajesh Magow, Deep Kalra finally launched MakeMyTrip.com in 2000.

However, the company didn’t get off to a good start as within the two years of MMT’s launch, the dot com market crashed, taking down everything that Kalra and his team had begun. Needless to say, it was a very difficult time for Kalra and his company but somehow, he steadied the ship with his firm decisions. Eventually, Kalra’s approach served him well and Make My Trip began to gain the trust of its customers yet again. Once everything got back on track, the travel platform started making awesome revenues in no time. As a result, the company even crossed 1000-cr milestone in 2008.

Founders and the team

Deep Kalra was born in Hyderabad and obtained his bachelor’s degree in Economics from St. Stephen’s College, Delhi in 1990. Later on, he did his MBA from IIM, Ahmedabad in 1992.

Deep’s business partner and Make My Trip’s co-founder, Rajesh Magow is an alumnus of Institute of Chartered Accountants of India (ICAI). Before joining MMT, Magow served as the Regional Head at Aptech Ltd.

Growth in the market

Deep Kalra didn’t have a desirable start when he launched Make My Trip but with his resilience and hard work, he successfully made his brand a monopoly in the market. This can be evident from the fact that the company’s turnover has kept increasing year after year. MMT saw its revenues more than triple in the third quarter of 2020 despite the fear of pandemic across the country.

If we talk about the current scenario, Make My Trip is one of the biggest Online Travel Agents (OTAs) in India, having a base of over seven million happy customers and page views crossing 20 million every month.

Make My Trip came into the limelight when it was listed on NASDAQ in August 2010!

  Reason behind MMT’s success

You must have heard the popular saying “No pain, no gain”. MMT and its founders had also faced their fair share of struggle during their journey to success, just every other startup. But what makes them different from other was their smart business strategy. They used those obstacles to expand their reach far beyond the imaginations. No matter how much difficult the times were, Kalra’s company managed to survive all the challenges.

Related Posts

Success Story of CoinDCX: India’s First Crypto Unicorn

May 3, 2024

Success Story Of Paper Boat: Sailing Through The Waves Of Innovation

April 26, 2024 April 26, 2024

Success Story Of Zoho: A Bootstrapped Million-Dollar Company

April 19, 2024

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

MakeMyTrip Reports Record-Breaking Quarter: Here’s How They Made It

Peden Doma Bhutia , Skift

January 23rd, 2024 at 12:04 PM EST

MakeMyTrip's record-breaking quarter is a significant addition to the unfolding narrative of India's travel landscape.

Peden Doma Bhutia

MakeMyTrip reported its highest-ever quarterly gross bookings, revenue, and profit in its third quarter for fiscal year 2024.

Gross bookings reached $2.1 billion, growth of 22%, while adjusted operating profit grew by 70% to $33.4 million.

The India Story

Infrastructure Investment: Highlighting substantial investments in travel infrastructure, including airports, highways, and railways, MakeMyTrip Co-Founder and Group CEO, Rajesh Magow, talked about India’s growing share in the global travel market during the earnings call on Tuesday.

Travel Growth: Outbound travel from India has recovered to pre-pandemic levels, and India is expected to be the fifth-largest outbound market by 2027. India now represents 2% of tourism receipts globally, up from 0.7% in 2000, while the country’s domestic travel is poised to become the third-largest globally by 2027.

“The way in which disposable income is growing in country, that’s definitely going to be the driving force for demand to go up for outbound destinations,” Magow said.  

Disposable Income Increase: With consumers taking more holidays and allocating a higher percentage of disposable income for travel experiences, the shift is contributing to a surge in demand in the market, noted Magow. Within this trend, he said, there is also a notable behavior of customers upgrading from one segment to the next, such as from mid-segment to premium, be it for hotels or airlines.

Air Ticketing Business

Market Share: Despite short-term supply challenges, due to the insolvency of Go First and the grounding of airplanes due to Pratt & Whitney engine issues MakeMyTrip said its domestic air market share remains strong at 30%.

MakeMyTrip’s international air ticketing business has fully recovered and is growing above pre-pandemic levels, Magow said.

Flight Upgrade: Highlighting an increasing trend in the demand for business and premium economy tickets, Magow said the company has revamped the business class funnel for international flights.

“We have introduced an industry-first enhanced booking process for business class flight tickets where customers can preview visuals of cabin comfort, meals, in-flight entertainment and other amenities,” he said.

Accommodation Business

Record Check-Ins: The accommodation business, covering hotels, home stays, and packages, experienced strong year-on-year and quarter-on-quarter growth. The company achieved its highest-ever single line check-in and expanded its domestic property offerings.

Alternative Accommodation: Talking about the growth in homestay business and the increasing coverage of destinations, Magow said the company is has also started building on its spiritual tourism product during the quarter.

MakeMyTrip reported that the revenue mix from hotel and packages improved from 40% to 45%. The demand increase was observed across all segments, with a noteworthy trend in the rising popularity of homestays.

Meetings Incentives Conferences and Events (MICE) Boost: The online travel company also noted a boost to premium segment, especially in non-leisure travel events like corporate offsites, MICE activities, and weddings during the season. “More of these events are now taking place in hotels, leading to increased demand compared to historical periods. This shift is also helping to sustain current price levels in the market,” Magow said.

The Connected Travel Feature: Similar to Booking.com’s Connected Trip feature, MakeMyTrip has introduced its own connected travel feature. However, this feature focuses on bus and rail combinations for routes with limited availability or lower frequency of trends. Magow highlighted that the online travel company is leveraging its extensive inventory strength through this feature.

Travel Tech Sector Stock Index Performance Year-to-Date

What am I looking at?  The performance of travel tech sector stocks within the  ST200 . The index includes companies publicly traded across global markets including online travel, booking, and travel tech companies.

The Skift Travel 200 (ST200)  combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number.  See more travel tech sector financial performance .

Read the full methodology behind the Skift Travel 200.

Skift India Report

The Skift India Report is your go-to newsletter for all news related to travel, tourism, airlines, and hospitality in India.

Have a confidential tip for Skift? Get in touch

Tags: earnings , india , makemytrip , online travel , online travel newsletter , pratt & whitney , skift india report

Photo credit: MakeMyTrip reported its highest-ever quarterly gross bookings, revenue, and profit on the back of strong travel demand.

Business model of MakeMyTrip | How does MakeMyTrip make money

Pratyusha Srivastava

When it comes to tour and tourism, MakeMyTrip holds a leading position in the market. The very popular Indian travel company, MakeMyTrip, launched in the year 2000. Ever wondered how this company makes money? Or how its business model is designed? Well, in most simple words, the business model of MakeMyTrip entirely revolves around the online travel services it offers.

MakeMyTrip provides the facility of booking tickets for holidays, flights, busses, cars and trains. This travel company has made booking tickets very convenient for Indians. Also, it has improvised the travel conditions and arrangements in India.

In this article, we have discussed the business model of this amazing travel company- MakeMyTrip and how it makes money. So, let's get started!

About MakeMyTrip Key services of MakeMyTrip Target Audience Where does MakeMyTrip operate? Business Model of MakeMyTrip What is unique about the business model of MakeMyTrip How does MakeMyTrip make money? FAQ

About MakeMyTrip

MakeMyTrip is a very famous Indian travel company, established in 2000. The company provides some very amazing online travel services and offers. With MakeMyTrip, you can book tickets for flights, hotels, buses and many more.

This famous travel company was founded by Deep Kalra . The company directly communicates with the customers through its verified online platform and deals with all customers’ concerns related to travelling. In other words, MakeMyTrip is the perfect guide for you to plan your vacation.

MakeMyTrip owns around 30+ franchised stores along with 14 different stores across 28 cities. In the year 2012, the company developed and launched its mobile application for its customers that provides over 10 lakh routes all around India. MakeMyTrip has made travelling super cool and convenient for the Indians by helping them in all aspects of travel requirements.

Key services of MakeMyTrip

MakeMyTrip provides various beneficiary services for its customers. Some of them are booking tickets for any sort of travel media such as flights, trains, buses or many others. Besides this, booking tickets for hotels, hire cars, and holiday packages, etc.

Apart from this, there are many third-party services also available such as travel insurance, Visa and many others, especially for travelling in any other country.

Target Audience of MakeMyTrip

There isn’t any specific group that MakeMyTrip separately focuses on. The travel company focuses on different groups with different specifications and segments. It attracts all kinds of age groups and genders. Although the company does prefer customers who have a vivid connection with the internet.

Where does MakeMyTrip operate?

MakeMyTrip is an India-based travel company but the company has expanded itself into foreign countries as well such as America, UAE and many others. MakeMyTrip has well-functioning offices in New York, Bangkok, Dubai, Kaula, Singapore, Phuket and many others.

Business Model of MakeMyTrip

The business model of MakeMyTrip is very strategic and mainly based on customer service. MakeMyTrip provides the audience with great offerings and also, facility to book tickets.

India, being the fastest-growing digital travel agency that basically benefits brands like MakeMyTrip in making them a strong contender in the global market. And for this, their business model entirely strategies the marketing, price, name, promotion and location. The company provides satisfaction to its customers through its amazing customer-centric services.

Apart from this, MakeMyTrip provides its services at affordable pricing rates. MakeMyTrip provides an e-marketplace that is basically available for a huge range of audiences across the world.

The company promotes its services and offerings through electronic banners on television commercials, websites and various other channels. Also, it promotes through offline retail stores.

Today, MakeMyTrip has become an elite brand and has great strategic planning including various marketing schemes and campaigns.

What is unique about the business model of MakeMyTrip

MakeMyTrip is way beyond just creating the most amazing experience for customers . In the competitive marketplace, MakeMyTrip offers the facility of customer testimonials that give strong feedback on the company's customer service managers. And the great customers' experience is what favours the company most.

In addition to this, MakeMyTrip works on various tactics and technologies to improvise its products and services. This brings out a great additional advantage to the company, especially over its audience. Along with this, MakeMyTrip provides an advanced place to its retail stores for showing the company's products.

How does MakeMyTrip make money?

MakeMyTrip has its major revenue source from the fee it charges over the online bookings. Although the company provides the most affordable flight tickets, that's what attracts the customers more. They do this by purchasing the tickets from the private airlines by a huge number and they then reduce the charge and sell these tickets to the customers and earn a good extra commission fee.

MakeMyTrip earns huge profit through the flight tickets but as there aren't many options available with the trains that's why they did not offer this service over train tickets. The company has over 5000 to 10,000 registered hotels and around 1000 registered busses.

Apart from this, the major source of revenue is from marketing of various companies like Tata, Kingfisher, SpiceJet and many others. They also earn revenue by advertising holiday packages of various hotels on their website.

MakeMyTrip is known as the leader in the travel market in India. The company follows the Business-to-consumer digital business model. It is amazing with its services and products, both online and offline platforms. The travel market in India has grown at the rate of 40% and a huge market share is taken by MakeMyTrip.

This clearly shows that the company has its marketing strategies very effective and efficient. MakeMyTrip earns a good amount of revenue and has a strong marketing position. Stay tuned for more content!

Who is the founder of MakeMyTrip?

MakeMyTrip was founded by Deep Kalra in 2000.

What is the revenue of MakeMyTrip?

The revenue of MakeMyTrip was 163 million U.S. dollars as of 2020.

Who are the competitors of MakeMyTrip?

MakeMyTrip's top competitors include Flight Centre Travel Group, Treebo, TravelTriangle, Yatra and ClearTrip.

Must have tools for startups - Recommended by StartupTalky

• Manage your business smoothly- Google Workspace

Discovering How AI Systems Personalise Courses for Students According to Their Preferences for Learning

This article has been contributed by Muddassar Nazar, CEO, Birla Brainiacs. Education is the foundation of human progress since it fosters intelligence and imparts skills that last a lifetime. However, students often struggle with a range of interest and comprehension levels when taught using the typical one-size-fits-all strategy. If the

How to Address Pricing Challenges: Balancing Affordability and Profitability in Specialty Medicine Sales

This article has been contributed by Devashish Singh, Co-Founder, MrMed. The largest pharmaceutical companies are engaged in researching and developing therapies for super speciality diseases such as cancer, Alzheimer’s, osteoarthritis and other chronic conditions that are relatively rare and extremely complex. Cancer, for example, has various stages and medications

AI, AI, Chief: Ways Artificial Intelligence Is Changing The PR Game

This article has been contributed by Ms. Pallavi Tinekar, Vice President - Technology & Startups, Concept Public Relations. Artificial Intelligence (AI) continues to impact our lives right as we use cloud-based service platforms for some information, play music from an app, or take help from satellites for routine navigation to avoid

Revolutionizing Recruitment: AI-Hiring Platforms Elevate Efficiency and Ethic

This article has been contributed by Mr. Lokesh Nigam, Co-Founder and CEO, Konverz.ai. The advent of Artificial Intelligence (AI) has prompted diversified sectors to approach their operations differently and optimize processes, thus improving efficiency and modifying people`s experience with technology. Out of all the sectors that were affected,

• Our Leaders
• Our Achievements
• Our Culture
• Investor Relations

Board of Directors

Get to know the members that make our board of directors..

Aditya Tim Guleri

Founder & Chairman

James Jianzhang Liang

Jane Jie Sun

May Yihong Wu

Moshe Rafiah

Paul Laurence Halpin

Rajesh Magow

Co-Founder & Group CEO

Savinilorna Payandi Pillay Ramen

List Your Property

Start earning today!

Introducing myBiz

Business Travel Solution

Manage your bookings

• Login or Create Account
• IN | eng | inr