MakeMyTrip is an Indian online travel company that has achieved significant success since its inception. Founded in 2000 by Deep Kalra, MakeMyTrip has revolutionized the travel industry in India and has become one of the country’s leading online travel platforms. Here is the success story of MakeMyTrip:
Founding and Early Growth: Deep Kalra, an alumnus of the Indian Institute of Management, Ahmedabad, identified the need for a comprehensive online travel platform in India. In 2000, he launched MakeMyTrip as a travel website, offering flight bookings initially. The company quickly gained traction due to its user-friendly interface, competitive pricing, and excellent customer service.
Expansion and Diversification: MakeMyTrip expanded its services to include hotel bookings, holiday packages, and bus and train ticket reservations. The company capitalized on the growing demand for travel services in India, catering to both domestic and international travel needs.
Strategic Partnerships and Acquisitions: To strengthen its market position and enhance its service offerings, MakeMyTrip entered into strategic partnerships and acquisitions. In 2011, MakeMyTrip acquired the online travel portal, MyGola, to enhance its holiday planning and customization capabilities. It also formed partnerships with various airlines, hotels, and tourism boards, providing customers with a wide range of options and exclusive deals.
IPO and Listing: In 2010, MakeMyTrip became the first Indian online travel company to be listed on the NASDAQ stock exchange. The successful initial public offering (IPO) helped the company raise significant funds, further fueling its growth and expansion plans.
Mobile and Technology Advancements: Recognizing the growing popularity of smartphones, MakeMyTrip invested in mobile technology and launched its mobile app. The app allowed users to access travel services on the go, facilitating convenient bookings and personalized travel experiences. The company also leveraged technology to enhance its backend systems, ensuring efficient operations and seamless customer experiences.
International Expansion: MakeMyTrip expanded its reach beyond India and established a presence in other countries. It launched operations in the United Arab Emirates, Singapore, Malaysia, and Thailand, catering to the travel needs of customers in these regions. This international expansion broadened MakeMyTrip’s customer base and diversified its revenue streams.
Continuous Innovation: MakeMyTrip continued to innovate and introduce new features and services to stay ahead in the competitive travel industry. The company introduced features like multi-city flight bookings, instant hotel bookings, and a loyalty rewards program. It also invested in artificial intelligence and machine learning technologies to personalize recommendations and offer customized travel experiences.
Strong Brand Image and Customer Trust: MakeMyTrip has built a strong brand image and gained the trust of millions of customers through its reliable services, competitive pricing, and exceptional customer support. The company’s commitment to customer satisfaction and its proactive approach in addressing customer queries and concerns have played a vital role in its success.
Awards and Recognitions: MakeMyTrip’s success has been acknowledged through numerous awards and recognitions. The company has received accolades for its innovative services, technological advancements, and contribution to the travel industry in India. These awards further validate MakeMyTrip’s position as a market leader and reinforce its brand reputation.
Overall, MakeMyTrip’s success can be attributed to its customer-centric approach, technological innovations, strategic partnerships, and continuous expansion. By consistently adapting to changing market trends and customer preferences, MakeMyTrip has established itself as a dominant player in the online travel industry in India and beyond.
MakeMyTrip - Company Highlights
Startup Name | MakeMyTrip |
---|---|
Headquarters | Gurugram |
Founder | Deep Kalra, Keyur Joshi, Rajesh Magow, Sachin Bhatia (resigned as Co-founder and CMO) |
Sector | Traveltech |
Founded | 2000 |
Total Funding | $748 mn (March 2022) |
Revenue | $303.9 mn (FY22) |
Parent Organization | MakeMyTrip (India) Pvt. Ltd. |
Website | makemytrip.com |
Table of Contents
About MakeMyTrip
MakeMyTrip – Product and Services
MakeMyTrip – Founders and Team
MakeMyTrip – Startup Story
MakeMyTrip – Vision and Mission
MakeMyTrip – Name, Tagline, and Logo
MakeMyTrip – Funding and Investors
MakeMyTrip – Business Model And Revenue Model
MakeMyTrip – Growth and Revenue
MakeMyTrip – Partnerships
MakeMyTrip – Investments
MakeMyTrip – Advertisements and Campaigns
MakeMyTrip – Awards
MakeMyTrip – Acquisitions and Mergers
MakeMyTrip – Startup Challenges
MakeMyTrip – Competitors
MakeMyTrip – Founder’s Advice
About MakeMyTrip
MakeMyTrip: India’s Premier Online Travel Company Founded in 2000 | Flights, Holidays, Hotels, and More
MakeMyTrip - Products and Services
Founded in 2000, MakeMyTrip Limited is an Indian online travel company offering a wide range of services, including air ticketing, hotel bookings, holiday planning, rail ticketing, car hire, and more. With a focus on innovation and customer satisfaction, MakeMyTrip has emerged as the industry leader, driving the digital transformation of offline hotels and accommodations. Leveraging a dedicated team of data scientists and chatbots like Gia and Myra, MakeMyTrip streamlines customer queries and plans to expand into sales. Additionally, the company has ventured into the corporate travel segment with MyBiz.
MakeMyTrip - Founders and Team
Deep Kalra – Founder of MakeMyTrip
Deep Kalra, the visionary behind MakeMyTrip Limited, the holding company of India’s leading travel brands – MakeMyTrip, Goibibo, and redBus. Born in Hyderabad and educated in Delhi and Ahmedabad, Kalra holds a bachelor’s degree in Economics from St. Stephen’s College, Delhi, and an MBA from IIM, Ahmedabad. With a diverse background, he worked at ABN AMRO and GE Capital before embarking on his entrepreneurial journey.
As the CEO of MakeMyTrip, Deep Kalra led the company from its inception to its listing on NASDAQ in August 2010. After serving as the Group CEO from August 2013 to February 2020, Kalra transitioned to the role of executive chairman, while co-founder Rajesh Magow assumed the position of Group CEO. Kalra’s strategic mindset and industry expertise continue to shape MakeMyTrip’s long-term growth and expansion plans.
In addition to his contributions to MakeMyTrip, Deep Kalra is the vice chairman of the Internet and Mobile Association of India. He is also a founding member of Ashoka University and “I am Gurgaon,” an NGO dedicated to community development.
Rajesh Magow – Co-founder and Group CEO of MakeMyTrip
Rajesh Magow, a co-founder of MakeMyTrip, currently serves as the Group CEO of the company. Magow is an alumnus of the Institute of Chartered Accountants of India and began his professional career at Aptech Ltd. He held various leadership positions before joining MakeMyTrip as a co-founder and CFO. Over the years, he has assumed diverse roles such as COO and Group CEO, contributing to the company’s growth and success.
Keyur Joshi – Co-founder, COO, and Strategic Advisor
Keyur Joshi, another esteemed co-founder of MakeMyTrip, plays multiple vital roles within the company as the Chief Operating Officer (COO) and Strategic Advisor. Joshi’s contributions have been instrumental in kickstarting the online travel market in India. Prior to MakeMyTrip, he gained experience at Around the World Travel and Tata Motors, where he worked in market research and product management. Joshi holds a Bachelor’s degree in Chemistry from Gujarat University and an MBA from the City University of New York. Interestingly, he is also a certified pilot.
MakeMyTrip’s Founding Team
The founding team of MakeMyTrip remains intact, demonstrating their commitment to the company’s vision and success. While Sachin Bhatia resigned as the Co-founder and CMO, the core team, including Deep Kalra, Rajesh Magow, and Keyur Joshi, continues to lead and shape the company’s growth trajectory.
With over 3,051 employees, MakeMyTrip boasts a dedicated and talented workforce, driving its position as a market leader in the travel industry.
MakeMyTrip - Subsidiaries
MakeMyTrip, the leading travel company, has a diverse portfolio of subsidiaries that contribute to its comprehensive services and global presence. These subsidiaries include:
Ibibo: Ibibo is a prominent subsidiary of MakeMyTrip, known for its online travel services and innovative solutions.
Easy to Book Holding B.V.: Easy to Book Holding B.V. is a subsidiary specializing in online hotel bookings, providing convenient accommodation options worldwide.
ITC Group: ITC Group is a subsidiary of MakeMyTrip that focuses on offering travel solutions tailored for corporate clients, ensuring seamless business travel experiences.
Luxury Tours & Travel Pte Limited: Luxury Tours & Travel Pte Limited is a subsidiary dedicated to providing luxurious and personalized travel experiences for discerning travelers.
Quest2travel.com India Pvt. Ltd.: Quest2travel.com India Pvt. Ltd. is a subsidiary that specializes in travel packages and curated itineraries, catering to various travel preferences and interests.
Hotel Travel Ltd.: Hotel Travel Ltd. is a subsidiary that focuses on hotel bookings, offering a wide range of accommodation options to cater to different budgets and preferences.
Travis Internet Private Limited: Travis Internet Private Limited is a subsidiary involved in the development and management of online travel technology solutions, contributing to the overall technological advancement of MakeMyTrip.
MakeMyTrip (India) Private Limited: MakeMyTrip (India) Private Limited is a subsidiary responsible for providing travel services and solutions specifically tailored to the Indian market.
Makemytrip.com Inc.: Makemytrip.com Inc. is a subsidiary with a global presence, offering comprehensive travel services and solutions across various international markets.
With these subsidiaries, MakeMyTrip expands its reach and enhances its ability to provide a wide range of travel services, ensuring customer satisfaction and convenience.
MakeMyTrip - Startup Story
The Journey of MakeMyTrip: From Banking to a Travel Startup
The fascinating startup story of MakeMyTrip can be traced back to its founder, Deep Kalra, and his career in the banking sector. Deep Kalra, an experienced banker at ABN AMRO Bank, felt a constant urge to break free from the monotony of his job and pursue something new and unique. After three years at the bank, he made the bold decision to leave and explore new avenues.
However, finding his true calling wasn’t an easy task for Kalra. He joined AMF Bowling with the aim of bringing the company to India and facing new challenges head-on. Unfortunately, the venture proved to be challenging, as he struggled to raise funds and establish the bowling business in his country. This setback led to his departure from AMF Bowling.
With a strong desire to have his own platform and run his own business, Kalra faced numerous obstacles along the way. He joined GE Capital, which provided him with valuable insights into the potential of the internet and its possibilities for running a business. It was during this time that he realized the power of the internet while attempting to sell his wife’s car online.
Armed with his newfound knowledge of online businesses, Kalra took the decisive step of resigning from GE Capital to embark on the journey of building his own company. During his research in the tourism sector, he discovered that people in India faced long queues at ticket counters to secure their travel tickets. This insight became the foundation for his business idea: making ticket bookings easier and more convenient through an online platform.
Another revelation came when Kalra was booking a holiday to Thailand and realized that the internet could offer more competitive prices by eliminating middlemen. Motivated by this discovery, he set out to create his own website, which materialized in the year 2000. He named it MakeMyTrip, symbolizing the goal of empowering individuals to make their own travel plans with ease.
With his entrepreneurial spirit and determination, Deep Kalra’s MakeMyTrip quickly gained recognition and became a trusted platform for online travel bookings. The company’s success story began to unfold, revolutionizing the way people in India booked their travel arrangements.
Today, MakeMyTrip continues to be a trailblazer in the travel industry, offering a wide range of services and empowering travelers with convenient and competitive travel solutions. The journey from banking to a successful travel startup is a testament to Deep Kalra’s vision, resilience, and ability to seize opportunities in the evolving digital landscape.
MakeMyTrip - Vision and Mission
MakeMyTrip’s Vision, Mission, and Core Values
Vision:
At MakeMyTrip, our vision is to make travel simple and fun for all. We aspire to create an inclusive and seamless travel experience that caters to the diverse needs and preferences of our customers. Through our innovative solutions and services, we aim to be the go-to platform for travelers, providing them with convenience, choice, and exceptional value.
Mission:
Our mission is to provide customers a one-stop-shop for all their travel needs. We are committed to offering optimum user experiences across the entire travel journey. From effective planning resources to a superior booking experience across all channels, and in-journey 24×7 live customer support, we strive to ensure that every step of the travel process is smooth and hassle-free for our users.
Core Values:
At GO-MMT, our core values are the guiding principles that shape our actions and decisions. They define our being and doing, and we incorporate them into every aspect of our work. These core values are:
Customer-Centric: We prioritize the needs and preferences of our customers above everything else. Their satisfaction and delight drive us to constantly improve and innovate our services.
Excellence: We strive for excellence in everything we do. We set high standards for ourselves and continually challenge the status quo to deliver the best possible outcomes.
Integrity: We uphold the highest level of integrity and ethics in our interactions with customers, partners, and each other. Honesty, transparency, and trust form the foundation of our relationships.
Collaboration: We believe in the power of collaboration and teamwork. By fostering a culture of open communication and collaboration, we leverage the diverse expertise and perspectives within our organization to achieve shared goals.
Innovation: We embrace innovation as a catalyst for growth and transformation. We encourage creative thinking and constantly seek new ideas and solutions to enhance the travel experience for our customers.
Agility: In a dynamic and ever-changing industry, we value agility and adaptability. We are quick to respond to market trends, customer needs, and technological advancements to stay ahead of the curve.
By aligning ourselves with these core values, each member of the GO-MMT family is dedicated to delivering exceptional experiences to our customers, every day. These values are at the heart of the projects we undertake and the way we approach problem-solving, ensuring that we fulfill our vision of making travel simple and fun for all.
MakeMyTrip - Name, Tagline, and Logo
MakeMyTrip’s tagline is “Dil toh roaming hai“, which the company announced in April 2017.
MakeMyTrip - Funding and Investors
MakeMyTrip’s Funding Journey:
MakeMyTrip has had a notable journey in terms of funding, securing investments at various stages of its growth. Here is a timeline of the significant funding rounds:
Series A Funding (2005): In 2005, MakeMyTrip raised its first Series A funding of $10 million from Tiger Fund. This investment provided the initial capital for the company to expand its operations and enhance its offerings.
Additional Funding (2006): In 2006, MakeMyTrip raised another round of funding amounting to $13 million, further strengthening its financial position and fueling its growth plans.
Series C Funding (2007): In 2007, MakeMyTrip successfully secured $15 million in Series C funding, enabling it to continue scaling its operations and investing in technology to enhance its services.
Initial Public Offering (2016): In 2016, MakeMyTrip went public and launched its initial public offering (IPO). The company received a significant investment of $180 million through this IPO, demonstrating investor confidence in its business model and growth prospects.
Second Initial Public Offering (2017): In 2017, MakeMyTrip conducted another IPO, raising $330 million. This additional funding further strengthened the company’s financial position and provided resources to support its expansion plans and strategic initiatives.
Post-IPO Debt Round (February 2021): Following the second IPO, there was no significant funding activity reported until February 2021 when MakeMyTrip announced a post-IPO debt round of funding. The details and amount of this funding were not provided in the information available.
It’s worth noting that funding activities can occur beyond the information available up until September 2021. For the most recent funding updates, it’s recommended to refer to reliable financial news sources or the official statements from MakeMyTrip.
To sum up, MakeMyTrip has raised $748 million in funding over 6 rounds.
Date | Stage | Amount | Investors |
---|---|---|---|
February 6, 2021 | Post-IPO Debt | $200 mn | – |
May 3, 2017 | Post-IPO Equity | $330 mn | – |
January 8, 2016 | Post-IPO Equity | $180 mn | Trip.com |
October 8, 2007 | Series C | $15 mn | Tiger Fund, Helion Venture Partners, Sierra Ventures, SAIF Partners |
December 14, 2006 | Series B | $13 mn | Helion Venture Partners, Sierra Ventures, SAIF Partners |
May 1, 2005 | Series A | $10 mn | Tiger Fund, Helion Venture Partners, Sierra Ventures & SAIF Partners |
MakeMyTrip - Business Model and Revenue Model
MakeMyTrip operates on a business model that primarily focuses on providing a comprehensive range of travel-related services to its customers. The company generates revenue through various streams within its B2C and corporate travel segments. Here is an overview of MakeMyTrip’s business and revenue models:
Business Model:
B2C Services: MakeMyTrip offers a user-friendly platform where customers can book various travel-related services such as flight tickets, bus tickets, hotel accommodations, holiday packages, and vehicle rentals. Customers can access these services through MakeMyTrip’s website, mobile app, or physical stores.
MyBiz: MakeMyTrip also caters to the corporate travel sector through its MyBiz platform. MyBiz provides businesses with tools and features to manage their employees’ travel and accommodation needs. It offers centralized payment processing, expense management, and reporting solutions to streamline corporate travel operations.
Revenue Model:
Commission and Markup: MakeMyTrip earns revenue through commissions and markups on bookings made through its platform. When customers book flights, hotels, or other travel services, MakeMyTrip charges a commission or markup fee on the transaction value.
Advertisement and Promotion: MakeMyTrip leverages its platform’s reach and customer base to generate revenue through advertising and promotional activities. The company partners with travel-related businesses and service providers who pay for advertising space or promotional placements on MakeMyTrip’s website and app.
Value-Added Services: MakeMyTrip offers additional services like visa processing, travel insurance, and other travel-related products through partnerships with third-party vendors. The company earns revenue by receiving a share of the fees or premiums charged for these value-added services.
MyBiz Subscription: In the case of MyBiz, MakeMyTrip generates revenue through subscription fees paid by businesses for accessing and using the platform’s corporate travel management tools and features.
Revenue Breakdown:
MakeMyTrip’s revenue is diversified across different segments, with a focus on hotels and packages, as well as airline ticketing. Hotels and packages contribute the largest share to the company’s net revenue, accounting for 56 percent. The remaining revenue is generated through airline ticketing, bus ticketing, and other ancillary services. Within the airline ticketing segment, MakeMyTrip holds a significant market share in domestic flight ticketing with a 24 percent market share.
Please note that the revenue breakdown and market share figures mentioned here are based on the available information up until September 2021. For the most up-to-date and detailed financial information, it is recommended to refer to reliable sources or the official financial statements of MakeMyTrip.
MakeMyTrip - Growth and Revenue
MakeMyTrip, as a leading travel company, has witnessed significant growth and transformation in its operations over the years. Here are some key insights regarding the company’s expansion, financials, and response to the COVID-19 pandemic:
Expansion and Presence:
- MakeMyTrip has established 14+ company-owned travel stores in over 14 cities, providing offline access to its services.
- It has also partnered with franchisees to open 30+ travel stores in more than 28 cities, further expanding its physical presence.
- The company has counters in four major airports in India, enhancing its accessibility to travelers.
- MakeMyTrip has international offices located in Dubai, Kuala Lumpur, Bangkok, New York, Singapore, and Phuket, reflecting its global outreach.
Extensive Accommodation Options:
- MakeMyTrip offers a vast collection of accommodations, including hotels and villas, with over 50,000 options available for customers to choose from.
Customer-Friendly Policies:
- In response to the pandemic, MakeMyTrip claims to provide customers with a 100% refund on cancellations, highlighting its commitment to customer satisfaction and support during uncertain times.
Financial Performance:
- MakeMyTrip focuses on leveraging technology and data to enhance the customer experience.
- In the first quarter of FY 2017-18, the company witnessed a significant surge in net revenues from the hotel business, reaching $81.2 million.
- For the quarter ending 30 September 2019, MakeMyTrip reported revenues of $118 million.
- In the third quarter of FY 2019-2020, the company’s revenue further increased to $146.9 million, showing a 15.9% YoY growth.
Profitability and Losses:
- MakeMyTrip has experienced a decline in losses, with a 50% reduction till Q3 of FY 2019-2020 compared to the same period in the previous fiscal year.
- However, the COVID-19 pandemic had a significant impact on the company’s financials.
- In FY21, MakeMyTrip’s revenues declined by approximately 68% to $163 million compared to $511 million in the previous fiscal year.
- Despite the decline in revenues, the company managed to decrease its losses from $447.5 million (FY20) to $56 million during FY21.
Cost-Cutting Measures:
- To mitigate losses and expenses, MakeMyTrip implemented extensive cost-cutting measures during FY21.
- These measures included reducing marketing and sales promotion expenses, canceling events related to brand building initiatives, and limiting expenses across various operational verticals.
- The cost-cutting efforts helped the company to contain losses during a period when revenues were significantly impacted by the pandemic-induced lockdowns.
It’s important to note that the information provided is based on available data up until September 2021. For the most up-to-date and detailed financial information, it is advisable to refer to reliable sources or the official financial statements of MakeMyTrip.
MakeMyTrip, following the impact of the COVID-19 pandemic, experienced a recovery in its revenue and financial performance in FY22. Here are the revenue figures and adjusted operating profit for the company:
Revenue Growth:
- MakeMyTrip’s revenue increased from $163.4 million in FY21 to $303.9 million in FY22, representing a significant growth of 86.1%.
- The recovery in the travel and tourism sector contributed to this revenue surge.
Revenue Breakdown:
- The revenue generated from the air-ticketing business saw a substantial growth of 55.6%, reaching $88.7 million in FY22.
- Revenue from the hotel and packages segment experienced even stronger growth, expanding by 131.4% to reach $157.3 million in FY22.
Adjusted Operating Profit:
- MakeMyTrip achieved a turnaround in its financial performance, as the adjusted loss of $18 million in FY21 converted into an adjusted operating profit of $23.2 million in FY22.
- This positive development indicates improved operational efficiency and cost management.
It is worth noting that the provided revenue and profit figures are based on available information and may be subject to change. For the most up-to-date and comprehensive financial data, it is advisable to refer to reliable sources or the official financial statements of MakeMyTrip.
MakeMyTrip - Partnerships
MakeMyTrip, throughout its journey, has engaged in several significant partnerships and collaborations with various brands. Here are some notable collaborations in recent years:
Partnership with Ministry of Civil Aviation: MakeMyTrip joined hands with the Ministry of Civil Aviation to support the promotion of regional air connectivity through the UDAN scheme. The company will power UDAN flights on the AIRSewa portal, market them on its platform, and contribute to increasing visibility and product discovery.
Collaboration with IndiGo: MakeMyTrip partnered with IndiGo, a leading Indian airline, to launch exclusive charter flights between Mumbai and Phuket, Thailand. As part of the deal, MakeMyTrip offers comprehensive services, including airport transfers, early check-in and check-out, certificate of entry assistance, and access to premium properties.
Strategic Partnership with AmazonPay: MakeMyTrip entered into a strategic partnership with AmazonPay, the digital payment platform of Amazon. This collaboration enables MakeMyTrip and Redbus to offer all-inclusive travel services to Amazon customers, enhancing convenience and seamless payment options.
Collaboration with Hopper: MakeMyTrip collaborated with Hopper, an AI-based travel booking app, to provide customers with personalized and flexible bookings. This partnership aims to help users save money while offering tailored travel options.
These collaborations demonstrate MakeMyTrip’s efforts to enhance its services, expand its reach, and provide customers with a wide range of travel options while ensuring convenience and personalized experiences.
Please note that the information provided is based on the available data and may be subject to change. For the latest and most accurate details, it is advisable to refer to official announcements or statements from MakeMyTrip.
MakeMyTrip - Investments
MakeMyTrip has made 7 investments to date. Here’s all of them below:
Date | Name of the Company | Investment Round | Lead Investor |
---|---|---|---|
February 29, 2020 | ibibo Group | Venture Round | Yes |
September 24, 2019 | PasajeBus.com | Series A | Yes |
July 26, 2018 | Bitla Software Pvt. Ltd. | Venture Round | Yes |
September 6, 2017 | GoFro | Series B | Yes |
July 20, 2015 | HolidayIQ | Series B | Yes |
June 25, 2015 | Inspirock | Seed Round | – |
August 11, 2011 | ixigo | Series A | – |
MakeMyTrip - Advertisements and Campaigns
MakeMyTrip appointed Ranveer Singh and Alia Bhatt as its brand ambassadors on February 17, 2016. The company recognizes the importance of creativity and unique content in effectively marketing its brand across various platforms.
The latest campaign of MakeMyTrip, titled “JoHogaWowHoga,” features its brand ambassadors and highlights the company’s commitment to providing a seamless and hassle-free travel experience for its users. The campaign emphasizes the convenience of easy cancellations with 100% refunds on trips, tickets, and other booking charges. By offering this feature, MakeMyTrip aims to instill confidence in its users and encourage them to book their trips without any worries. The campaign showcases the company’s dedication to making travel smoother and more enjoyable for its customers.
It is worth noting that brand campaigns and ambassadors may change over time, and for the most up-to-date information, it is recommended to refer to official announcements or statements from MakeMyTrip.
MakeMyTrip - Awards
MakeMyTrip has received several accolades and awards in recognition of its contributions and achievements in the travel industry. Here are some notable accolades:
Best Travel Innovator – Travel Distribution World Asia Awards (2012): This award recognized MakeMyTrip as a leading innovator in the travel industry, highlighting its contributions to the distribution of travel services in Asia.
Singapore Airlines – Top Agents Award: MakeMyTrip received this award multiple times, including Top Passenger Agent (2007-08) and Top Agents Award (2010-2011), in recognition of its outstanding performance and contribution as an agent for Singapore Airlines.
Malaysia Airlines – Top Agent Award: MakeMyTrip was honored with the Top Agent Award from Malaysia Airlines on multiple occasions, including 2007, 2009, and 2010, for its exceptional performance and contributions as a travel agent.
Cathay Pacific – Outstanding Performance: Cathay Pacific recognized MakeMyTrip for its outstanding performance in the travel industry, with awards presented in 2009 and 2007.
Air Canada – Outstanding Performance: MakeMyTrip received the Outstanding Performance award from Air Canada in 2008, acknowledging its exceptional performance and contribution as an agent.
Air Mauritius – All India Top Ten Agent/Top North India Sales Award: MakeMyTrip was honored with the All India Top Ten Agent/Top North India Sales Award from Air Mauritius for consecutive years, including 2007-08 and 2006-07, recognizing its excellence in sales and contribution as an agent.
British Airways – Outstanding Revenue Contribution: MakeMyTrip received the Outstanding Revenue Contribution award from British Airways in 2007-08, highlighting its significant contribution to revenue generation as an agent.
Lufthansa – Outstanding Performance: Lufthansa recognized MakeMyTrip for its outstanding performance as an agent in 2006-07.
Indian Airlines – Achieving Highest Domestic Passenger Sales: MakeMyTrip was acknowledged by Indian Airlines for achieving the highest domestic passenger sales in 2006-07, recognizing its excellence in sales and promotion of Indian Airlines’ services.
Kingfisher Airlines – Outstanding Performance: MakeMyTrip received the Outstanding Performance award from Kingfisher Airlines in 2006-07, acknowledging its exceptional performance and contributions as an agent.
Jet Airways – Award of Excellence: MakeMyTrip was honored with the Award of Excellence from Jet Airways in 2005-06, recognizing its outstanding contributions and partnership as an agent.
Air India – Outstanding Contribution to Passenger Sales: Air India acknowledged MakeMyTrip for its outstanding contribution to passenger sales in 2005-06, recognizing its significant role as an agent.
These awards showcase MakeMyTrip’s excellence in the travel industry and its strong partnerships with leading airlines, highlighting its outstanding performance, sales achievements, and contributions as a travel agent.
MakeMyTrip - Acquisitions and Mergers
Here is a list of the acquisitions and investments made by MakeMyTrip:
Quest2Travel: Acquired in May 2019.
ibibo Group: Acquired on October 18, 2016, for $720 million. This acquisition included various brands under the ibibo Group, such as Goibibo, redBus, and Rightstay.
Mygola: Acquired on April 23, 2015.
Easytobook.com: Acquired on February 6, 2014, for $5 million.
HotelTravel.com: Acquired on November 19, 2012, for $25 million.
In addition to these acquisitions, MakeMyTrip has made various investments and strategic partnerships. Some notable investments and partnerships include:
Travenues Technology (Ixigo.com): MakeMyTrip, along with private equity firm Saif Partners, acquired majority stakes in Travenues Technology Private Limited, the company behind Ixigo.com, in August 2011.
My Guest House Accommodation: MakeMyTrip invested in ‘My Guest House Accommodation’, a budget lodging and hotel operator, in November 2011.
Innovation Fund: In September 2014, MakeMyTrip established a $15 million innovation fund to support early-stage companies in the travel space. As part of this initiative, MakeMyTrip acquired MyGola, a travel planning website, in April 2015.
Inspirock: MakeMyTrip acquired an 18% stake in travel planning startup Inspirock in June 2015.
HolidayIQ: MakeMyTrip invested in travel information and hotel review portal HolidayIQ in July 2015, acquiring approximately 30% stake in the company.
BonaVita Technologies: MakeMyTrip invested $5 million in BonaVita Technologies, a startup focusing on innovative products in the travel industry, in July 2015.
These acquisitions and investments have contributed to the growth and expansion of MakeMyTrip’s business, allowing the company to offer a wider range of services and strengthen its position in the online travel market.
MakeMyTrip - Startup Challenges
The biggest challenge faced by MakeMyTrip was a combination of three significant events: the dotcom meltdown, the exit of venture capital from India, and the 9/11 attacks. These events had a severe impact on the company, particularly around mid-2001. As a result, MakeMyTrip faced financial difficulties and had to downsize its team.
During this challenging period, there was a scarcity of investors, and the company had to navigate through a tough business environment. However, these difficult times played a crucial role in bringing the team together and strengthening their resilience. The adversity they faced helped them grow and overcome the obstacles they encountered.
Despite the challenges, MakeMyTrip managed to persevere and continue its journey. The experiences and lessons learned during those tough times have contributed to the company’s growth and success, and the team remains optimistic about the future possibilities that lie ahead.
MakeMyTrip - Competitors
MakeMyTrip faces competition from several key players in the travel and online booking industry. Some of its main competitors include:
Yatra: Yatra is an Indian online travel company that offers a range of travel-related services, including flight and hotel bookings, holiday packages, and more.
Booking.com: Booking.com is a global online travel agency that allows users to book accommodations, flights, car rentals, and other travel services.
Cleartrip: Cleartrip is an Indian online travel company that provides services for flight, hotel, and train bookings, as well as activities and experiences.
Expedia: Expedia is a well-known global online travel company that offers a wide range of travel services, including flights, hotels, car rentals, and vacation packages.
Travelguru: Travelguru is an Indian online travel company that specializes in hotel bookings, holiday packages, and other travel-related services.
Easemytrip: Easemytrip is an Indian online travel company that provides services for flight bookings, hotel reservations, holiday packages, and more.
OYO: OYO is a hospitality company that operates a network of budget hotels and accommodations. While not a direct competitor in terms of booking services, OYO competes with MakeMyTrip in the hotel segment.
These competitors operate in a similar space, offering various travel-related services and solutions to customers. MakeMyTrip competes with them in terms of market share, customer acquisition, service quality, and technological innovations.
MakeMyTrip - FAQs
What is MakeMyTrip?
MakeMyTrip is an Indian online travel company that was founded in 2000 by Deep Kalra, Keyur Joshi, Sachin Bhatia, and later joined by Rajesh Magow. Headquartered in Gurugram, Haryana, the company offers a wide range of online travel services, including domestic and international holiday packages, hotel reservations, rail, bus, and flight tickets.
Who are the founders/owners of MakeMyTrip?
Rajesh Magow is the Co-founder and Group CEO of MakeMyTrip. He joined Deep Kalra, Keyur Joshi, and Sachin Bhatia, the original founders, in 2006. While Rajesh Magow is a key executive, the ownership of MakeMyTrip is shared among various shareholders. Notably, the single largest shareholders of the company’s shares are Naspers and Tencent.
What are the subsidiaries of MakeMyTrip?
MakeMyTrip has several subsidiaries, including Ibibo, Easy to Book Holding B.V., ITC Group, Luxury Tours & Travel Pte Limited, Quest2travel.com India Pvt. Ltd., Hotel Travel Ltd., Travis Internet Private Limited, MakeMyTrip (India) Private Limited, and Makemytrip.com Inc.
Which country is MakeMyTrip from?
MakeMyTrip Limited is an Indian online travel company that originated in India. It was founded in 2000 and has its headquarters in Gurugram, Haryana.
How much funding has MakeMyTrip raised?
As of 2020, MakeMyTrip has raised a total funding amount of $748 million over six funding rounds.
What is the valuation of MakeMyTrip?
The valuation of MakeMyTrip was last reported at $2.69 billion in 2019. Please note that valuations may have changed since then, and it’s recommended to refer to the latest sources for the most up-to-date information.
Q: How can I book a flight on MakeMyTrip?
A: To book a flight on MakeMyTrip, you can visit their website or use their mobile app. Enter your travel details including departure and arrival cities, dates, and the number of passengers. You will then see a list of available flights with different airlines and fares. Choose the flight that suits your preferences and proceed to book by providing passenger details and making payment.
Q: How can I cancel a booking on MakeMyTrip?
A: To cancel a booking on MakeMyTrip, you can log in to your account on their website or app, go to the “My Bookings” section, and select the booking you wish to cancel. Check the cancellation policy associated with your booking to understand any applicable charges. If you are eligible for a refund, it will be processed according to the cancellation policy and the mode of payment you used while booking.
Q: Does MakeMyTrip offer travel insurance?
A: Yes, MakeMyTrip offers travel insurance that can be purchased while booking your travel. They collaborate with third-party insurance providers to offer different types of travel insurance coverage, including medical emergencies, trip cancellation, baggage loss, and more. You can choose the insurance option that suits your needs during the booking process.
Q: How can I contact MakeMyTrip customer support?
A: MakeMyTrip provides customer support through various channels. You can reach out to their customer care team by calling their helpline number, which is available 24/7. You can also send them an email or use the live chat feature on their website or app to connect with a customer support representative.
Q: Does MakeMyTrip have a loyalty program? A: Yes, MakeMyTrip has a loyalty program called “MyRewards” that allows users to earn and redeem reward points on their bookings. By becoming a MyRewards member, you can earn points on flights, hotels, holiday packages, and other travel bookings. These points can then be used to avail discounts or make future bookings.
Q: Can I book international holidays or packages on MakeMyTrip?
A: Yes, MakeMyTrip offers a wide range of international holiday packages that you can book through their platform. These packages include flights, accommodation, transfers, and sometimes additional activities or tours. You can explore different destinations and choose a package that suits your preferences and budget.
Please note that the information provided here is based on general knowledge and MakeMyTrip’s services may have evolved or changed since my last update in September 2021. It’s always recommended to visit the official MakeMyTrip website or contact their customer support for the most accurate and up-to-date information.