EaseMyTrip

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EaseMyTrip
IndustryOnline travel
Founded2008
FoundersNishant Pitti, Rikant Pitti
Headquarters,
India
Area served
Worldwide
ProductsBooking flights, hotels, holidays, buses, trains and cars
RevenueRs 2400 crore (FY17-18)[1]
Websitewww.easemytrip.com

EaseMyTrip is an Indian online travel company founded in May 2008 by Nishant Pitti and Rikant Pitti. Headquartered in New Delhi, the company provides hotel bookings, air tickets, holiday packages, bus bookings, and white-label services. EaseMyTrip has overseas offices in Singapore, Dubai, Maldives, and Bangkok.[2]

History[edit]

The idea for EaseMyTrip came when the brothers, Nishant Pitti and Rikant Pitti, used to book air tickets for their father's frequent business trips, and saved money in the booking process. Initially based out of their home garage as a travel agency, the duo lost all of the initial investment within the first three months.[3] Later on, references from family and friends helped and a major turnaround came when an airline noticed multiple bookings coming from a single email id and contacted the Pitti brothers to become its travel partner.[4]

EaseMyTrip has a network of 42,000 travel agents, 1200 franchise outlets, 640 white-label solutions, and 1600 distributors.[2] Nandan Jha joined as the COO in 2017[5] and Abani Kant Jha as the CFO in 2019.[6] Briefly, the company also dealt in coal and trading.[4]

IPO[edit]

EaseMyTrip has filed for a $72.13 million (INR 510 crore) initial public offering (IPO) with the Securities and Exchange Board of India (SEBI),[7][8] making them the first online travel agency to be listed on the Indian share market.[9] The issue is managed by Axis Bank and JM Financial.[10]

Partnership[edit]

On 14 September 2019, FoodforTravel announced its partnership with EaseMyTrip to provide special offers like free ready-to-eat meal to its customers.[11]

Controversy[edit]

In 2018, MakeMyTrip sent a notice to EaseMyTrip for trademark violation.[12]

References[edit]

  1. ^ "EaseMyTrip achieves a turnover of Rs 2400 crore in FY17-18". Moneycontrol. Retrieved 2019-06-03.
  2. ^ a b "EaseMyTrip looks to raise up to Rs 750cr via IPO; books Axis Capital, JM Financial as bankers". Moneycontrol. Retrieved 2019-06-03.
  3. ^ Modi, Ajay (2017-01-12). "Aggressive EaseMyTrip flies into top league". Business Standard India. Retrieved 2019-06-03.
  4. ^ a b "Journey to the centre of EaseMyTrip". The Ken. 2019-01-25. Retrieved 2019-06-03.
  5. ^ "Nandan Jha joins EaseMyTrip as COO". afaqs.com. 2017-11-23. Retrieved 2019-06-03.
  6. ^ Modgil <shweta.modgil@peoplematters.in>, Shweta; Ltd, People Matters Media Pvt (2019-07-05). "EaseMyTrip names Abani Kant Jha as CFO". People Matters. Retrieved 2019-07-08.
  7. ^ "EaseMyTrip files papers for Rs 510 crore IPO". The Economic Times. 2019-12-15. Retrieved 2019-12-23.
  8. ^ "EaseMyTrip Files Draft Papers For IPO, Looks To Raise $72 Mn". Inc42 Media. 2019-12-15. Retrieved 2019-12-23.
  9. ^ www.ETtech.com. "EaseMyTrip plans to raise Rs 700 crore from public issue - ETtech". ETtech.com. Retrieved 2019-12-11.
  10. ^ "EaseMyTrip's IPO Plans May Go Live Soon To Raise INR 700 Cr". Inc42 Media. 2019-12-11. Retrieved 2019-12-11.
  11. ^ "FoodforTravel partners with EaseMyTrip.com". https://www.outlookindia.com/. Retrieved 2019-09-17. External link in |website= (help)
  12. ^ "HC seeks EaseMyTrip response on MakeMyTrip plea". The Quint. 2019-03-22. Retrieved 2019-06-03.

External links[edit]