Makemytrip

MakeMyTrip.com

Type	Public
Traded as	NYSE: MMYT
Industry	Online Travel
Founded	2000 (2000)
Founder(s)	Mr.Deep Kalra
Headquarters	MakeMyTrip.com, Gurgaon, Haryana, India.
Products	Domestic and International Flight Bookings,Hotels and Holidays bookings, Bus and Rail bookings,Car bookings
Revenue	US$ 196.5 Million (2012)
Employees	923 (Dec 2012)
Website	MakeMyTrip.com

MakeMyTrip Inc. (NASDAQ: MMYT) is an online travel company headquartered in Gurgaon, Haryana founded by Deep Kalra. The company provides online travel services including flight tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets. In 2011 and 2012, MakeMyTrip made strategic acquisitions in pursuit of growth through new channels and markets in the South-East Asia region. Recently, it launched Travel Apps^[1] for mobile devices. The company has been consistently recognised as one of India’s best travel portals.^[2] In addition to a full-service online portal, the company also operates through 59 retail stores^[3] across 37 cities in India along with international offices in New York and Sydney.

History and Growth

MakeMyTrip was founded by Deep Kalra,^[4] an alumnus of Institute of Management, Ahmedabad. Prior to setting up MakeMyTrip, Deep had worked with GE Capital as the Vice President - Business Development (Retail) and had also worked with ABN AMRO Bank and AMF Bowling.

MakeMyTrip was launched in the US market^[5] in 2000 to cater to the overseas Indian community for their US-to-India travel needs. The founding team consisted of Deep Kalra, Keyur Joshi^[6] (Co-Founder & Chief Commercial Officer), Rajesh Magow^[7]( Co-Founder & CEO - India, formerly Chief Operating Officer & Chief Financial Officer) and Sachin Bhatia (ex-Chief Marketing Officer). After serving a long tenure of 10 years, since the company’s inception, Sachin Bhatia^[8] quit MakeMyTrip as an active member and decided to work as an independent advisor and a prime shareholder in the company.

With the success of IRCTC (Indian Railways Catering and Tourism Corporation)'s online business model which enabled the Indian traveller to purchase railway tickets^[9] on the Internet, things started to look brighter for the travel market in India. This was also the time when Low-Cost Carriers entered the Indian Aviation space. MakeMyTrip started its Indian operations in September 2005,^[10] offering online flight tickets to Indian travellers. To broaden it's travel portfolio, the company also started to focus on non-air businesses like holiday packages and hotel bookings. On August 13, 2010, MakeMyTrip was listed on the NASDAQ^[11] and went public, making a debut in the US market. Trade Analysts believed that this was an encouraging sign for both the investors and other Indian firms.

In 2011, the company strengthened focus on the mobile route by creating several travel-related Apps^[12] for all types of mobile devices (smartphones and basic cellphones). In the same year, MakeMyTrip also made three acquisitions,^[13] namely, Luxury Tours and Travel Private Limited (Singapore), Le Travenues Technology Private Limited (Gurgaon, India) and My Guest House Accommodation (New Delhi, India). MakeMyTrip’s other acquisitions include travel operators like ITC Group and Hotel Travel Group to enter new markets in the South-East Asian region in the year 2012.

Rajesh Magow was appointed as CEO - India in August 2013.

Mergers and Acquisitions

Products and Services

Transportation

• Flights- MakeMyTrip provides flight tickets for travel in all major domestic, international as well as low-cost carriers operating in India. It caters to travellers for both domestic and international travel from India. Apart from this, there is inbound travel to India from countries like US, Canada, Singapore and UAE that the travel website looks after.

• Rail and Bus tickets- MakeMyTrip sells online rail tickets^[19] to its customers offering features like return tickets with single payment option, flexi-search and automatic alerts and updates on the availability of tickets. It also offers bus tickets^[20] across different categories like Volvo, Air Conditioned, Non Air Conditioned, Deluxe, Semi-Deluxe and Sleeper vehicles.

• Cab Service- In May 2010,^[21] the company introduced online cab rental services on its website offering travellers an option to book a chauffeur-driven car in major metropolitan cities within India.

Hotels and Holiday Packages

The company offers hotel reservations in India and international cities alike. There are approximately 10,000^[22] branded properties that can be searched and compared online on the company’s website. The hotels offer a range from luxury to budget accommodations. In November 2012, MakeMyTrip acquired My Guest House Accommodation to increase the overall inventory for budget rooms and service apartments in India. MakeMyTrip also offers a wide selection of hotels outside India. In 2011, the company focused on the South-East Asian^[23] market by acquiring the Singapore-based Luxury Tours and Travels and Le Travenues Technology, an online travel agency, which was followed by the HotelTravel Group and ITC Group in November 2012. MakeMyTrip also offers group and customised holiday packages for popular domestic and international destinations.

Travel Solutions on Mobile

In 2012, MakeMyTrip launched travel-centric mobile applications (Apps)^[24] for iPhone, Android, Blackberry and other types of basic phones. It offers services like flight and bus bookings, hotel reservations and holiday packages. It also caters to other travel solutions^[25] like requesting for e-tickets, making cancellations, tracking status of refunds and other travel alerts. The travel itineraries available on the Apps can be shared on Facebook and Twitter.

Work Culture

The company has been consistently ranked among the Top 10 “Great Places to Work for in India” by the Great Place to Work® (GPTW) Institute, a study by The Economic Times, for four years in a row starting from 2010 to 2013.^[26]

Awards and Recognition

Leadership Team

• Deep Kalra, Chairman & Group CEO

• Rajesh Magow, CEO - India

• Keyur Joshi, Chief Commercial Officer

• Mohit Kabra, Chief Financial Officer

• Amit Somani, Chief Product Officer

• Sanket Atal, Chief Technology Officer

• Mohit Gupta, Chief Business Officer - Holidays

• Amit Saberwal, Chief Business Officer - Hotels

Board of Directors and Investors

• Deep Kalra, Founder and Group CEO, MakeMy Trip

• Philip C Wolf, Chairman, PhoCusWright Inc.

• Frederic Lalonde, Founder and CEO, Openplaces.org

• Vivek N Gour, Managing Director and CEO - Air Works India

• Ranodeb Roy, CEO of RV Capital Management Private Limited, Singapore

• Tim Guleri, Managing Director, Sierra Ventures

• Ravi Adusumalli, Partner- SAIF Partners

References

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External links

• Official Website