MakeMyTrip

MakeMyTrip Limited
Traded as NASDAQ: MMYT
Industry Online travel
Founded 2000
Founder Deep Kalra
Headquarters Gurugram, Haryana, India
Area served
 Worldwide
Products Booking flights, hotels, holidays, buses, trains and cars
Revenue Increase US$ 675.26 Million (2017-18)
Number of employees
 3051 (March 2018)
Website www.makemytrip.com

MakeMyTrip Limited[1] is an Indian online travel company, founded in 2000. Headquartered in Gurugram (also known as Gurgaon), Haryana, the company provides online travel services including flight tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets. As of March 31, 2018, the Company has 14 company-owned travel stores in 14 cities, including one in their office in Gurugram, over 30 franchisee-owned travel stores which primarily sell packages in approximately 28 cities, and counters in four major airports in India under MakeMyTrip brand. MakeMyTrip also has offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai.

History

MakeMyTrip was founded by Deep Kalra, an alumnus of IIM-Ahmedabad. It was launched in the US market in the year 2000 to cater to the overseas Indian community for their US-to-India travel needs. MakeMyTrip started its Indian operations in September 2005, offering online flight tickets to Indian travelers. The company also started to focus on non-air businesses like holiday packages and hotel bookings. On 17 August 2010, MakeMyTrip was listed on the NASDAQ and went public, making a debut in the US market.

In 2011, the company created several travel-related apps for all types of mobile devices (smartphones and basic cell phones). MakeMyTrip also made three acquisitions, namely, Luxury Tours and Travel Private Limited (Singapore), ITC Group Hotel Travel Group and ETB Group, over the years, to enter new markets in South – East Asian region and Europe. In September 2014, MakeMyTrip instituted a $15 million innovation fund to support early-stage companies in the travel space.

MakeMyTrip acquired MyGola, a travel planning website in April 2015. The acquisition was done through the innovation fund and as part of the acquisition, all employees of MyGola were absorbed into the MakeMyTrip team.

In July 2015, MakeMyTrip invested in travel information and hotel review portal, HolidayIQ to pick up approximately 30% stake in the company. In the same month, it also invested $5 million in Bona Vita Technologies, a start-up which plans to utilize the funds to build innovative products in the travel industry.

In January 2016, the Chinese travel booking company Ctrip agreed to invest $180 million to MakeMyTrip.

Mergers, Acquisitions and Investments

NumberAcquisition / Investment DateCompanyBusinessCountryRef(s)
1May 2011Luxury Tours and Travel Private LimitedTravel AgencySingapore[2]
2August 2011Le Travenues Technology Private Limited which owns Ixigo.comOnline travel meta search engineIndia[3]
3November 2011My Guest House AccommodationBudget Lodging/Hotel OperatorIndia[4]
4November 2012ITC GroupTour OperatorThailand[5]
5November 2012Hotel Travel Group (HT Group)Travel FirmThailand, Singapore and Malaysia[6]
6February 2014easytobook.com (ETB)Online Hotel OperatorAmsterdam[7]
7June 2015InspirockOnline Travel PlannerUSA[8]
8April 2015MyGolaTravel Guide Start-upIndia[9]
9 July 2015 Holiday IQ Online Travel Portal India [10]
10 July 2015 Bona Vita Technologies Private Limited Travel Start Up India [11]
11January 2017Ibibo GroupOnline Travel Agency (OTA)India[12]

MakeMyTrip and Ibibo Group Merger

MakeMyTrip and Ibibo Group merged through a stock transaction, representing the coming together of India’s largest travel booking portals. Through this transaction, MakeMyTrip acquired its rival, Ibibo Group, in one of the biggest acquisition in India’s online travel space. Post the merger, MakeMyTrip shareholders own 60% stake whereas Ibibo Group shareholders get 40% stake, making Naspers and Tencent the single largest shareholder in MakeMyTrip.

Products and services

MakeMyTrip offers flight tickets, rail and bus tickets, cab service and hotel booking services on its portal. In 2012, MakeMyTrip launched travel mobile application for Windows Phone, iPhone, Android, and Blackberry devices. MakeMyTrip route planner provides all the basic required information on more than 1 million routes in India.[13]

Awards and recognition

YearName of the AwardAwarded byRef(s)
2007Best Online Travel Agent (OTA) AwardGalileo-Express Travel World[14]
2009SuperbrandConsumer Superbrands India[15]
2009Best Service Provider Company (tour operators category)Indian Council of Market Research[16]
2010Most Preferred Travel and Holiday WebsiteIMINT Shoppers and Consumer Insights Awards[17]
2011Best Online Travel Service FirmTimes Travel Honours[18]
2011Best Domestic Tour OperatorTimes Travel Honours[18]
2012Retailer of the YearFranchise India awards[19]
2012Best Online Tour CompanySafari India National Tourism Award[20]
2012Leisure and Travel E-Retailer AwardFranchise India e-Retailer Awards[21]
2012Best Travel InnovatorTravel Distribution World Asia Awards (Budgie & Travel Awards)[22]
2012Industry Architecture ShiftPorter Prize (named after Michael E Porter)[23]
2012Best Mobile Strategy and Best Mobile SolutionEyefortravel Award[24]
2013, 2009Best Travel PortalCNBC Awaaz Travel Award[25]
2013, 2012Best Travel Facilitator (Indian)Lonely Planet Travel Award[26]
2013, 2012Best Travel Facilitator (Indian)Lonely Planet Travel Award[27]
2015, 2014, 2013, 2012Best Travel PortalOutlook Traveller Reader's Choice Travel Awards[28]
2014, 2013e-tailer of the YearET Retail Awards[29]
2014, 2013Best Travel Portal IndiaWorld Travel Awards[30]

References

  1. ↑ "MakeMyTrip Limited: Private Company Information". Bloomberg.com. Retrieved 2018-09-10.
  2. ↑ "MakeMyTrip acquires Luxury Tours & Travels" pata.org, 20 May 2011
  3. ↑ "SAIF Partners, MakeMyTrip Buy 76.6% In iXiGO.com For $18.5 Mn" dealcurry.com, 11 August 2011
  4. ↑ "MakeMyTrip buys My Guest House Accommodation Kochhar and ARA advise" barandbench.com, 21 November 2011
  5. ↑ "MakeMyTrip Acquires Majority Interest In Thailand’s ITC Group For $3.2M" medianama.com, 27 November 2012
  6. ↑ "MakeMyTrip acquires Hotel Travel Group for $25 m" The Hindu Business Line.com, 7 November 2012
  7. ↑ "MakeMyTrip acquires EasyToBook.com" livemint, 7 February 2014
  8. ↑ "Inspirock attracts seed funding of $3m, unveils new site", Tnooz. Retrieved on 20 July 2015.
  9. ↑ , The Hindu. Retrieved on 14 August 2015
  10. ↑ "Makemytrip invests Rs 95 crore in HolidayIQ". The Times of India. 23 July 2015.
  11. ↑ "MakeMyTrip invests $5 million in former Snapdeal CTO's Bona Vita Technologies". The Economic Times. 30 July 2015.
  12. ↑ "CCI nod to MakeMyTrip, Ibibo Group merger" The Economics Times. Retrieved on 21 January 2017
  13. ↑ http://www.nextbigwhat.com/makemytrip-routeplanner-ixigo-competition-297/
  14. ↑ "A trip to success" Express TravelWorld, December 2007
  15. ↑ "MakeMyTrip.com- Superbrands" superbrandsindia.com. Retrieved 27 June 2013.
  16. ↑ "MakeMyTrip Ties Up with Visa- About MakeMyTrip" thetelegraphindia.com, 23 June 2011
  17. ↑ "Lowest price guarantee on Bus ticket-booking on MakeMyTrip.com" arrowtimesmedia.com. Retrieved 14 February 2013.
  18. 1 2 TNN, "Jet Airways, Makemytrip sweep inaugural Times Travel Honours" timesofindia.indiatimes.com, 18 October 2011
  19. ↑ Gunjan Piplani, "Retailers eye tier II & tier III cities in 2013" indianretailer.com.Retrieved 20 March 2013.
  20. ↑ "Safari India National Tourism Awards" patwainternational.com. Retrieved 14 February 2013.
  21. ↑ "Leisure & Travel E-Retailer Award" franchiseindia.com, 2012
  22. ↑ "Celebrating Excellence in Asia's Low Cost Aviation and Travel Industry" Budgie$ & Travel Awards – terrapin.com, 9 February 2012
  23. ↑ Abhinandan Mishra, "Porter Prize 2012 awarded" Porter Prize- Sunday Guardian. Retrieved 2010-10.
  24. ↑ "Social Media & Mobile in Travel Asia 201327-28th November 2013, Langham, Hong Kong" events.eyefortravel.com. Retrieved 27 June 2013.
  25. ↑ "MakeMyTrip.com awarded the best Travel & Tourism company in India" afaqs.com, 10 May
  26. ↑ "Lonely Planet Magazine India launches first-ever Travel Awards on 3rd May" mediavataar.com, 30 April 2012
  27. ↑ "Lonely Planet Magazine India launches first-ever Travel Awards on 3rd May" mediavataar.com, 30 April 2012
  28. ↑ "Readers’ Choice Winners" Outlook Traveller Magazine, 1 February 2013
  29. ↑ "Honouring Excellence in Retail"
  30. ↑ "The 21st World Travel Awards"
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