MakeMyTrip

#1507

Rank

$11.51B

Marketcap

India

Country

Leadership team

Mr. Rajesh Magow (Co-Founder, Group CEO & Director)

Mr. Deep Kalra (Founder & Chairman)

Mr. Mohit Kabra (Group Chief Financial Officer)

Products/ Services

Internet, Transportation, Travel

Number of Employees

1,000 - 20,000

Headquarters

Gurgaon, Haryana, India

Established

2000

Company Registration

SEC CIK number: 0001495153

Revenue

100M - 500M

Traded as

MMYT

Social Media

URL

https://www.makemytrip.com

Overview

Location

Recognition and Award

References

Summary

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing. Its services and products include air tickets; hotels; packages; rail tickets; bus tickets; and car hire, as well as ancillary travel requirements, such as visa processing and facilitating access to travel insurance. The company allows travelers to research, plan, book, and purchase travel services and products through its websites, such as makemytrip.com, goibibo.com, redbus.in, makemytrip.com.sg, and makemytrip.ae; and other technology-enhanced distribution channels, such as call centers, travel stores, and travel agents' network, as well as mobile service platform. As of March 31, 2022, it had approximately 125 franchisee-owned travel stores. The company serves leisure and corporate travelers. MakeMyTrip Limited was incorporated in 2000 and is based in Gurugram, India.

History

2000: MakeMyTrip was founded by Deep Kalra, an alumnus of IIM-Ahmedabad. It was launched in US market in the year 2000 to cater to the overseas Indian community for their US to India travel needs.

2005 – September: 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.

2010 – September 17: On 17 August 2010, MakeMyTrip Limited was listed on the NASDAQ after its initial public offering.

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

2015 – April: 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.

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

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

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 their brand. They also have offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai.

2021 – May: the company entered into a strategic partnership with the digital payment arm of Amazon?—?Amazon Pay for providing travel services on Amazon.

2022 – November: the company plans to enhance business-to-business segment.

Mission

MakeMyTrip’s mission is to make travelling easy and accessible to everyone. To offer the best options of travel deals, wide range of options to choose from, and automated processes to ensure successful bookings.

Vision

At MakeMyTrip, our vision is to make travel simple and fun for all, and our core values guide us in making this possible.

Key Team

Mr. Vipul Prakash (Chief Operating Officer)

Mr. Ravi Prakash Tyagi (VP of Admin.)

Mr. Vipul Garg (VP of Investor Relations)

Mr. Saujanya Shrivastava (Chief Bus. Officer)

Mr. Sunil Suresh (Chief Marketing Officer)

Recognition and Awards

MakeMyTrip has won numerous awards such as the eTravel World Award for 'Best Retailer of the Year', the Business Traveler Asia's Reader's Choice Award for 'Favorite Online Travel Agency', and the CNBC Travel Leadership Award for 'Most Innovative Travel Company'.