MakeMyTrip

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MakeMyTrip Limited
Traded asNASDAQMMYT
IndustryOnline travel
Founded2000
FounderDeep Kalra
Headquarters,
India
Area served
Worldwide
ProductsBooking flights, hotels, holidays, buses, trains and cars
RevenueIncrease US$ 675.26 Million (2017-18)
Number of employees
3051 (March 2018)
Websitewww.makemytrip.com

MakeMyTrip Limited is an Indian online travel company founded in 2000.[1] Headquartered in Gurugram, Haryana, the company provides online travel services including flight tickets, domestic and international holiday packages, hotel reservations, and rail and bus tickets. As of 31 March 2018, they have 14 company-owned travel stores in 14 cities, over 30 franchisee-owned travel stores in 28 cities, and counters in four major airports in India. MakeMyTrip has offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai.

History[edit]

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 Indian operations in September 2005, offering online flight tickets to Indian travellers. The company also started to focus on non-air businesses like holiday packages and hotel bookings. On 17 August 2010, MakeMyTrip Limited was listed on the NASDAQ after its initial public offering.[2]

In 2011, the company created several travel related apps for mobile devices. MakeMyTrip also made three acquisitions—Luxury Tours and Travel Private Limited (Singapore), ITC Group Hotel Travel Group, and ETB Group—to enter new markets in south east Asia and Europe. In September 2014, MakeMyTrip instituted a $15 million innovation fund to support travel start-ups.[3]

MakeMyTrip acquired MyGola, a travel planning website, in April 2015. The acquisition was done through the innovation fund and all employees of MyGola were absorbed into the MakeMyTrip team.[4]

In July 2015, MakeMyTrip invested in the travel information and hotel review portal HolidayIQ and picked up approximately thirty percent stake in the company. In the same month, it 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[edit]

Number Acquisition / Investment Date Company Business Country Ref(s)
1 May 2011 Luxury Tours and Travel Private Limited travel agency Singapore [5]
2 August 2011 Le Travenues Technology Private Limited which owns Ixigo.com online travel meta search engine India [6]
3 November 2011 My Guest House Accommodation budget lodging and hotel operator India [7]
4 November 2012 ITC Group tour operator Thailand [8]
5 November 2012 Hotel Travel Group (HT Group) travel firm Thailand, Singapore and Malaysia [9]
6 February 2014 easytobook.com (ETB) online hotel operator Amsterdam [10]
7 June 2015 Inspirock online travel planner USA [11]
8 April 2015 MyGola travel guide start-up India [12]
9 July 2015 Holiday IQ online travel portal India [13]
10 July 2015 Bona Vita Technologies Private Limited travel start-up India [14]
11 January 2017 Ibibo Group online travel agency India [15]

MakeMyTrip and Ibibo Group merger[edit]

In 2016, MakeMyTrip and Ibibo Group, India's largest travel booking portals, merged through a stock transaction. Through this transaction, MakeMyTrip acquired its rival, Ibibo Group, in one of the biggest acquisition in India"s online travel space. Post merger, MakeMyTrip shareholders own a sixty percent stake and Ibibo Group shareholders get a forty percent stake. Naspers and Tencent, who jointly owned Ibibo Group, became the single largest shareholder in MakeMyTrip.[16]

Products and services[edit]

MakeMyTrip offers flight tickets, rail and bus tickets, cab service, and hotel booking services on its portal. In 2012, MakeMyTrip launched travel mobile applications for Windows Phone, iPhone, Android, and Blackberry devices. MakeMyTrip route planner provides all the basic required information on more than one million routes in India.[17]

Awards and recognition[edit]

Year Name of the Award Awarded by Ref(s)
2007 Best Online Travel Agent (OTA) Award Galileo-Express Travel World [18]
2009 Superbrand Consumer Superbrands India [19]
2009 Best Service Provider Company (tour operators category) Indian Council of Market Research [20]
2010 Most Preferred Travel and Holiday Website IMINT Shoppers and Consumer Insights Awards [21]
2011 Best Online Travel Service Firm Times Travel Honours [22]
2011 Best Domestic Tour Operator Times Travel Honours [22]
2012 Retailer of the Year Franchise India awards [23]
2012 Best Online Tour Company Safari India National Tourism Award [24]
2012 Leisure and Travel E-Retailer Award Franchise India e-Retailer Awards [25]
2012 Best Travel Innovator Travel Distribution World Asia Awards (Budgie & Travel Awards) [26]
2012 Industry Architecture Shift Porter Prize (named after Michael E Porter) [27]
2012 Best Mobile Strategy and Best Mobile Solution Eyefortravel Award [28]
2013, 2009 Best Travel Portal CNBC Awaaz Travel Award [29]
2013, 2012 Best Travel Facilitator (Indian) Lonely Planet Travel Award [30]
2013, 2012 Best Travel Facilitator (Indian) Lonely Planet Travel Award [30]
2015, 2014, 2013, 2012 Best Travel Portal Outlook Traveller Reader's Choice Travel Awards [31]
2014, 2013 e-tailer of the Year ET Retail Awards [32]
2014, 2013 Best Travel Portal India World Travel Awards [33]

References[edit]

  1. ^ "MakeMyTrip Limited: Private Company Information". Bloomberg.com. Retrieved 2018-09-10.
  2. ^ "A new journey begins for MakeMyTrip". Rediff. Retrieved 2018-11-23.
  3. ^ "MakeMyTrip's early stage investment fund is an extension to M&A strategy: Magow". VCCircle. 2014-09-23. Retrieved 2018-11-23.
  4. ^ Krishnamurthy, Krithika (2015-04-21). "MakeMyTrip acquires travel startup Mygola". The Economic Times. Retrieved 2018-11-23.
  5. ^ "MakeMyTrip acquires Luxury Tours & Travels" pata.org, 20 May 2011
  6. ^ "SAIF Partners, MakeMyTrip Buy 76.6% In iXiGO.com For $18.5 Mn" dealcurry.com, 11 August 2011
  7. ^ "MakeMyTrip buys My Guest House Accommodation Kochhar and ARA advise" barandbench.com, 21 November 2011
  8. ^ "MakeMyTrip Acquires Majority Interest In Thailand’s ITC Group For $3.2M" medianama.com, 27 November 2012
  9. ^ "MakeMyTrip acquires Hotel Travel Group for $25 m" The Hindu Business Line.com, 7 November 2012
  10. ^ "MakeMyTrip acquires EasyToBook.com" livemint, 7 February 2014
  11. ^ "Inspirock attracts seed funding of $3m, unveils new site", Tnooz. Retrieved on 20 July 2015.
  12. ^ [1], The Hindu. Retrieved on 14 August 2015
  13. ^ "Makemytrip invests Rs 95 crore in HolidayIQ". The Times of India. 23 July 2015.
  14. ^ "MakeMyTrip invests $5 million in former Snapdeal CTO's Bona Vita Technologies". The Economic Times. 30 July 2015.
  15. ^ "CCI nod to MakeMyTrip, Ibibo Group merger" The Economics Times. Retrieved on 21 January 2017
  16. ^ "MakeMyTrip Limited and ibibo Group to combine". www.naspers.com. Retrieved 2018-11-23.
  17. ^ NextBigWhat. "MakeMyTrip launches routeplanner – competes directly with iXiGo?". www.nextbigwhat.com.
  18. ^ "A trip to success" Express TravelWorld, December 2007
  19. ^ "MakeMyTrip.com- Superbrands" superbrandsindia.com. Retrieved 27 June 2013.
  20. ^ "MakeMyTrip Ties Up with Visa- About MakeMyTrip" thetelegraphindia.com, 23 June 2011
  21. ^ "Lowest price guarantee on Bus ticket-booking on MakeMyTrip.com" arrowtimesmedia.com. Retrieved 14 February 2013.
  22. ^ a b TNN, "Jet Airways, Makemytrip sweep inaugural Times Travel Honours" timesofindia.indiatimes.com, 18 October 2011
  23. ^ Gunjan Piplani, "Retailers eye tier II & tier III cities in 2013" indianretailer.com.Retrieved 20 March 2013.
  24. ^ "Safari India National Tourism Awards" patwainternational.com. Retrieved 14 February 2013.
  25. ^ "Leisure & Travel E-Retailer Award" franchiseindia.com, 2012
  26. ^ "Celebrating Excellence in Asia's Low Cost Aviation and Travel Industry" Budgie$ & Travel Awards – terrapin.com, 9 February 2012
  27. ^ Abhinandan Mishra, "Porter Prize 2012 awarded" Porter Prize- Sunday Guardian. Retrieved 2010-10.
  28. ^ "Social Media & Mobile in Travel Asia 201327-28th November 2013, Langham, Hong Kong" events.eyefortravel.com. Retrieved 27 June 2013.
  29. ^ "MakeMyTrip.com awarded the best Travel & Tourism company in India" afaqs.com, 10 May
  30. ^ a b "Lonely Planet Magazine India launches first-ever Travel Awards on 3rd May" mediavataar.com, 30 April 2012
  31. ^ "Readers’ Choice Winners" Outlook Traveller Magazine, 1 February 2013
  32. ^ ""Honouring Excellence in Retail"".
  33. ^ "World Travel Awards 2014 Asia Winners". World Travel Awards.

External links[edit]