MakeMyTrip

MakeMyTrip
MakeMyTrip
Type Public
Traded as NASDAQ: MMYT
Industry Travel & Tourism
Founded April 1, 2000 (2000-04-01)
Founder(s) Deep Kalra,Keyur Joshi, Rajesh Magow
Headquarters Gurgaon, Haryana, India
Products Airline Tickets, Indian Railway Tickets, Bus Tickets, Holidays, Hotels, MICE, Car Rentals
Services Visa Services, B2B & Affiliate Services
Website MakeMyTrip

MakeMyTrip.com is an Indian online travel agency that holds a major market share, with one-out-of-every-twelve domestic flights in India booked via it .[1][2] MakeMyTrip.com offers its customers a variety of travel services and products, with international and domestic airline tickets, Indian Railways tickets, domestic bus tickets, international and domestic hotel reservations, car rentals, international and domestic holiday packages, MICE (Meetings, Incentives, Conferencing, Exhibitions), visa services, B2B services, and more. Founded in April, 2000, MakeMyTrip.com today has offices in 20 cities across India and 2 international offices in New York and San Francisco, in addition to several franchise locations.[3]

Contents

History

Founded in 2000 by Deep Kalra, MakeMyTrip.in had its beginnings in a small office in Okhla, New Delhi. Deep Kalra, formerly V.P. Business Development for GE Capital had the mandate to develop and partner new distribution channels for the company’s consumer financial products. The internet appeared as an interesting choice with untapped potential and his role at GE Capital provided him the opportunity to be closely involved with the then nascent internet industry in India. Shortly thereafter, Deep began considering his entrepreneurial options, interested in a couple of sectors of the Indian economy, including travel. When he found that the travel industry lent itself seamlessly to the Internet and had tremendous potential as a sector, MakeMyTrip.com was conceptualized.[4]

Deciding that the Indian market was not yet ready for an online travel agency, MakeMyTrip.com instead concentrated on the US India travel sector. In a relatively short span, MakeMyTrip.com grew to emerge as a major travel website in the US to India sector, and today has an approximate 4% share of the NRI market, which is pegged at Rs. 4500 crore (USD 1 billion).[5] With the revolution in the Indian travel industry caused by the emergence of the domestic Low Cost Carriers, MakeMyTrip launched its website for the Indian travel market in September 2005.[6] In its first year of operation, it was India’s largest e-commerce company.[7] According to MakeMyTrip’s Company Profile, “the company is on track to achieve sales of INR 2500 crores (approximately US$ 500 million) in the financial year ending March 2010, making it India’s largest travel company.” [8]

Products

Calling itself a one-stop travel shop and the most comprehensive Online Travel Agency in India, MakeMyTrip.com[9] offers the following products and services:

International and Domestic - Air Tickets, Holiday Packages and Hotels

Domestic - Bus and Rail Tickets

Private Car and Taxi Rentals

MICE (Meetings, Incentives, Conferences & Exhibitions)

B2B and Affiliate Services

These products are offered via the MakeMyTrip.com website, as well as at the 20 company-owned travel shops in India, and now also through new franchisee outlets opened in selected cities across India. All of MakeMyTrip.com’s products and services are said to be supported real-time by 24x7 call centres.

Board of directors

Board of Directors of MakeMyTrip comprise investor and independent board members. Financial Investors include SAIF Partners, Helion Venture Partners, and Sierra Ventures.[10] Independent Members comprise such illustrious entrepreneurs and travel professionals as Philip C. Wolf (President and CEO of PhoCusWright Inc.), and Frederic Lalonde (Founder and CEO of Openplaces.org).[11]

Awards & recognitions

Since 2000, MakeMyTrip has won several awards and accolades:[12]

Travel & Business

1st Rank in Great Places To Work – 2010 (Industry – Professional Services)[13]

2nd Rank in Great Places To Work – 2010 (India) [14]

Superbrand India – 2009-10[15]

Great Places To Work – 2009 (Industry – Professional Services)[16]

Most Preferred/Best Travel Portal – CNBC Awaaz 2009 [17]

Most Visited Travel Website – comScore – 2005-09[citation needed] [18]

Most Preferred Online Travel Agency – Travel Biz Monitor Survey – 2008[citation needed] [19]

Number One Online Travel Agency – JuxtConsult – 2008[citation needed] [20]

Red Herring 100 Asia 2007 - [21]

Gold and Silver – Abby Award – 2006-07 [22] [23]

Among the Top Ten Websites visited by Indians – comScore – 2007[citation needed] [24]

Nominated World Travel Awards – Asia’s Leading Travel Agency – 2007 [25]

Among 100 IT Innovators – NASSCOM – 2007 [26]

Best Online Travel Company – Galileo Express Travel World – 2007.[27][28][29]

Emerging India Award – ICICI Bank & CNBC TV18 – 2006[30]

Asia's Hottest Technology Startup – Red Herring – 2006 [31]

[32]

Airline Awards [33]

Air Canada – Outstanding Performance – 2008

Singapore Airlines – Top Passenger Agent – 2007-08

British Airways – Outstanding Revenue Contribution – 2007-08

Air Mauritius – All India Top Ten Agent//Top North India Sales Award – 2006-07//2007-08

Cathay Pacific – Outstanding Performance – 2007

Malaysia Airlines – Top Agent Award – 2007

Lufthansa – Outstanding Performance – 2006-07

Kingfisher Airlines – Outstanding Performance – 2006-07

Indian Airlines – Achieving Highest Domestic Passenger Sales – 2006-07

Air India – Outstanding Contribution to Passenger Sales – 2005-06

Jet Airways – Award of Excellence – 2005-06

Gulf Air – Continuous Support

Recent developments

MakeMyTrip.com has expanded its footprint in India by adopting a Hybrid OTA Model, with 20 regional offices across the country, apart from several franchise offices. This is intended to help the company serve those customers who prefer making their travel and holiday plans directly in person with the travel expert, rather than through the telephone, real-time chat, or e-mail channels also offered by the company.[34]

In February 2007, Amadeus IT Group announced that MakeMyTrip had chosen Amadeus as technology provider.[35] In August 2007, the company allied with Nokia to let customers book air tickets on their mobile phones.[36]

In March 2011, MakeMyTrip underwent re-branding, wherein its brand tagline/slogan was changed from Wish, Click, Go to MEMORIES UNLIMITED.

Acquisitions

MakeMyTrip has bought strategic assets from Ticketvala including website, URL, technology platform agent network, and bus inventory.[37]

References

  1. ^ "MakeMyTrip.com: Is eCommerce in India Finally Happening?". TechCrunch. Nov 13, 2009. http://www.techcrunch.com/2009/11/13/makemytrip-com-is-ecommerce-in-india-finally-happening/. Retrieved 2009-12-31. 
  2. ^ "Company Profile". MakeMyTrip. http://www.makemytrip.com/about-us/company_profile.php. Retrieved 2009-12-31. 
  3. ^ "Company Profile". MakeMyTrip. http://www.makemytrip.com/about-us/company_profile.php. Retrieved 2009-12-31. 
  4. ^ "Interview > Deep Kalra, Founder and CEO, MakeMyTrip.com". AlooTechie. 17 March 2009. http://www.alootechie.com/content/interview-deep-kalra-founder-and-ceo-makemytripcom. Retrieved 2009-12-31. 
  5. ^ "WIPO Domain Name Decision: D2009-0646". WIPO. 11 August 2009. http://www.wipo.int/amc/en/domains/decisions/html/2009/d2009-0646.html. Retrieved 2009-12-31. 
  6. ^ "MakeMyTrip.com launches new website". The Hindu. Sep 09, 2005. http://www.hindu.com/2005/09/09/stories/2005090901781800.htm. Retrieved 2008-02-05. 
  7. ^ "About us". MakeMyTrip. http://us.makemytrip.com/various/budget-travel-packages.htm. Retrieved 2008-02-05. 
  8. ^ "Company Profile". MakeMyTrip. http://www.makemytrip.com/about-us/company_profile.php. Retrieved 2009-12-31. 
  9. ^ "Products". MakeMyTrip. http://us.makemytrip.com/various/Online-Travel-Company-India.htm. Retrieved 2009-12-30. 
  10. ^ "Financial Investors". MakeMyTrip. http://www.makemytrip.com/about-us/financial_investors.php. Retrieved 2009-12-30. 
  11. ^ "Financial Investors". MakeMyTrip. http://www.makemytrip.com/about-us/independent_members.php. Retrieved 2009-12-30. 
  12. ^ "Awards & Recognition". MakeMyTrip. http://us.makemytrip.com/various/awards_recognition.html. Retrieved 2009-12-30. 
  13. ^ "Best Workplaces in India Special Categories and Industries". Great Places to Work. http://www.greatplacetowork.in/best/list-in-special-categories-2010.php. Retrieved 2010-06-21. 
  14. ^ "India's Best Companies to Work For". Great Places to Work. http://www.greatplacetowork.in/best/list-in.htm. Retrieved 2010-06-21. 
  15. ^ "Superbrands Honours India’s Strongest Consumer Brands". Indiantelevision.com. http://www.indiantelevision.com/release/y2k9/dec/decrel60.php. Retrieved 2009-12-30. 
  16. ^ "Best Workplaces in India Special Categories and Industries". Great Places to Work. http://www.greatplacetowork.in/best/list-in-special-categories-2009.php. Retrieved 2009-12-30. 
  17. ^ "The Best in Travel & Tourism". My Bangalore. http://mybangalore.com/article/0809/the-best-in-travel-tourism-with-cnbc-at-leela-palace.html. Retrieved 2009-12-30. 
  18. ^ "MakeMyTrip Awards and Recognition". MakeMyTrip. http://www.makemytrip.com/about-us/awards_recognition.php. Retrieved 2009-12-30. 
  19. ^ "MakeMyTrip Awards and Recognition". MakeMyTrip. http://www.makemytrip.com/about-us/awards_recognition.php. Retrieved 2009-12-30. 
  20. ^ "MakeMyTrip Awards and Recognition". MakeMyTrip. http://www.makemytrip.com/about-us/awards_recognition.php. Retrieved 2009-12-30. 
  21. ^ "Red Herring 100 Asia 2007". Red Herring. http://www.herringevents.com/asia07/redherring100.html. Retrieved 2009-12-30. [dead link]
  22. ^ "ABBYs 2006 Results". Ad Club Bombay. http://www.adclubbombay.com/index.php?option=com_content&view=article&id=267&Itemid=82. Retrieved 2009-12-30. 
  23. ^ "ABBYs 2007 Results". Ad Club Bombay. http://www.adclubbombay.com/index.php?option=com_content&view=article&id=518&Itemid=90. Retrieved 2009-12-30. 
  24. ^ "MakeMyTrip Awards and Recognition". MakeMyTrip. http://www.makemytrip.com/about-us/awards_recognition.php. Retrieved 2009-12-30. 
  25. ^ "World Travel Awards – Asia 2007". World Travel Awards. http://www.worldtravelawards.com/nominees2007-4. Retrieved 2009-12-30. 
  26. ^ "IT Innovators 2007". NASSCOM. http://www.nasscom.in/Nasscom/templates/NormalPage.aspx?id=53050. Retrieved 2009-12-30. 
  27. ^ "Makemytrip.com adjudged best online travel agency". Zee News. Dec 04, 2007. http://www.zeenews.com/articles.asp?aid=411190&sid=LIF&sname=&ssid=8&ssname=. Retrieved 2008-02-05. 
  28. ^ "Makemytrip wins award". The Business Edition. December 4, 2007. http://www.thebusinessedition.com/makemytrip-wins-award-914/. Retrieved 2008-02-05. 
  29. ^ "Makemytrip adjudged best online travel agency in India by Galileo Express TravelWorld". exchange4media. December 8, 2007. http://www.exchange4media.com/e4m/izone1/izone_fullstory.asp?section_id=4&news_id=28907&tag=23814. Retrieved 2008-02-05. 
  30. ^ "Emerging India Awards". Money Control. http://emergingindia.moneycontrol.com/archives_2005_2006.php. Retrieved 2009-12-30. 
  31. ^ "Red Herring Asia Hottest Technology Startup Nominees". Red Herring. http://www.herringevents.com/rhasia06/brochure072106.pdf. Retrieved 2009-12-30. [dead link]
  32. ^ "Red Herring Asia Hottest Technology Startup". Red Herring. http://www.redherring.com/Home/18189. Retrieved 2009-12-30. 
  33. ^ "MakeMyTrip Awards and Recognition". MakeMyTrip. http://www.makemytrip.com/about-us/awards_recognition.php. Retrieved 2009-12-30. 
  34. ^ "Interview > Deep Kalra, Founder and CEO, MakeMyTrip.in". AlooTechie. 17 March 2009. http://www.alootechie.com/content/interview-deep-kalra-founder-and-ceo-makemytripcom. Retrieved 2009-12-31. 
  35. ^ "Amadeus chosen by 5 Indian online travel agents in rapidly growing market". Amadeus. 2 February 2007. Archived from the original on 2008-01-13. http://web.archive.org/web/20080113134904/http://www.amadeus.in/10/1091_national_01.htm. Retrieved 2008-02-05. 
  36. ^ "Travel portals click on telecom cos to woo customers". The Economic Times. 28 Aug, 2007. http://economictimes.indiatimes.com/Infotech/Travel_portals_click_on_telecom_cos_to_woo_customers/articleshow/2316258.cms. Retrieved 2008-02-05. 
  37. ^ "MakeMyTrip acquires Ticketvala.com". MakemyTrip. 2010-02-12. http://www.ciol.com/News/News-Reports/MakeMyTrip-acquires-Ticketvala.com/11210131387/0/. Retrieved 2010-02-12. 

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