MakeMyTrip
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| Type | Public |
|---|---|
| Traded as | NASDAQ: MMYT |
| Industry | Online travel agency |
| Founded | April 1, 2000 |
| Founder(s) | Deep Kalra, Chairman |
| Headquarters | Gurgaon, Haryana, India |
| Services | domestic bus and rail tickets through online,car rentals, domestic and international hotel bookings, holiday packages in domestic level as well as international, MICE(meetings,incentives,conferences,exhibitions), B2B affliate services. |
| Revenue | $124.72 million (2011) |
| Website | makemytrip.com |
MakeMyTrip Limited (NASDAQ: MMYT) is an Indian online travel agency that holds a major market share, with one-out-of-every-twelve domestic flights in India booked using its services.[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]
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[edit] 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. He also serves on several boards including IndiaMART and One97 [4] 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.[5] 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).[6] 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.[7] In its first year of operation, it was India’s largest e-commerce company.[8] 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.” [9]
[edit] 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]
[edit] Acquisitions
MakeMyTrip has bought strategic assets from Ticketvala including website, URL, technology platform agent network, and bus inventory.[12]
[edit] References
- ^ "MakeMyTrip.com: Is eCommerce in India Finally Happening?". TechCrunch. November 13, 2009. http://www.techcrunch.com/2009/11/13/makemytrip-com-is-ecommerce-in-india-finally-happening/. Retrieved 2009-12-31.
- ^ "Company Profile". MakeMyTrip. http://www.makemytrip.com/about-us/company_profile.php. Retrieved 2009-12-31.
- ^ "Company Profile". MakeMyTrip. http://www.makemytrip.com/about-us/company_profile.php. Retrieved 2009-12-31.
- ^ Profile: Deep Kalra Forbes
- ^ "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.
- ^ "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.
- ^ "MakeMyTrip.com launches new website". The Hindu. September 9, 2005. http://www.hindu.com/2005/09/09/stories/2005090901781800.htm. Retrieved 2008-02-05.
- ^ "About us". MakeMyTrip. http://us.makemytrip.com/various/budget-travel-packages.htm. Retrieved 2008-02-05.
- ^ "Company Profile". MakeMyTrip. http://www.makemytrip.com/about-us/company_profile.php. Retrieved 2009-12-31.
- ^ "Financial Investors". MakeMyTrip. http://www.makemytrip.com/about-us/financial_investors.php. Retrieved 2009-12-30.
- ^ "Financial Investors". MakeMyTrip. http://www.makemytrip.com/about-us/independent_members.php. Retrieved 2009-12-30.
- ^ "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.
