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]]>It was the foresight of Deepak Kalra in the year 2000, who on one hand envisioned an exponential rise in the number of Indian nationals traveling abroad and on the other hand, growth in the number of internet users in the country. The number of international travelers rose from 4.42 million in 2000 to over 26.3 million in 2019. Internet users increased from 5.5 million in 2000 to 525 million in 2019. Thus, was born ‘MakeMy Trip’ a company that could empower the traveler by providing online travel services like flight tickets, domestic and international holiday packages, hotel reservations, rail, and bus tickets, through their website or mobile app
Today Make My Trip which is listed on the NASDAQ, has 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. The company has offices in New York, Dubai, Singapore, Bangkok, Phuket and Kuala Lumpur.
The idea for the start-up germinated when Deepak Kalra saw the opportunities the internet offered when he tried to sell his wife’s car online. Soon after, while booking a family holiday to Thailand, he thought why not use the internet to establish a travel platform by cutting out the middleman. This idea founded MakeMyTrip (MMT).
The inception happened in 2000 in USA. Deep Kalra, an alumnus of IIM-Ahmedabad first launched Make My Trip website in America to expedite the imminent travel needs of the overseas Indian community. After a successful run in the US, MakeMyTrip started Indian operations in September 2005, by offering online air ticketing. Headquartered in Gurugram, Haryana, the company now provides flight tickets, holiday packages, hotel and alternative-stay bookings, rail tickets, intercity bus tickets and third-party travel insurance, and visa processing.
The increase in the company portfolio was imminent. Deepak Kalra, after the success of the Make My Trip model in the US, was certain could emulate the same or greater success in India. Make My Trip started to raise funds for its growth. To date, it has received USD 548 Million. It came in tranches of:
Over the years, MMT has acquired wholly or a stake in the following organizations: –
The stellar performance of MMT has led to a long list of awards and accolades. The company has won numerous awards conferred upon by airlines and by other eminent travel business entities. Here are some of the awards listed year wise :-
MMT’s subsidiaries are:-
Deep Kalra, the founder, has guided MakeMy Trip from its inception days. He has been an inspiration to many startups.
What started as a USD 2 million company with cofounders Sachin Bhatia and Keyur Joshi is today valued at over USD 100 million. In February 2020, Deepak Kalra stepped down from the post of CEO to take up the role of the Group Executive Chairman. He now aims to pursue strategic initiatives at MMT. From increasing competition, thinner margins, tax evasion probe, Deepak Kalra surely has his hands full. Until now, the team at the helm has steered the company through tough times by staying ahead of the curve. It is now the responsibility of co-founder and Group CEO Rajesh Magow to continue in the direction of success and profitability.
I have no doubt MakeMy Trip, India’s leading online travel company may falter in COVID-19 times but in due course all will be fine. People like me will resume travel once the corona virus restrictions are eased. Till then, let’s think of the travel ban as a blessing and stay safe.
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