Story of MakeMyTrip, the Revolutionary E-commerce
To empower the Indian travellers with instant booking and comprehensive choices, MakeMyTrip started its journey in April of 2000 for the US-India travel market. It began to operate from India from 2005. Over the years, MakeMyTrip has received numerous accolades for providing best-in-class services to travelers. Thomas Cook, Cox & Kings, Kuoni , GoIbibo, Yatra, Expedia, ClearTrip, Bookings.com, Agoda, Hotels.com etc are their competitors in the market.
As the pioneer among Online Travel Companies in India, MakeMyTrip heralded a revolution in e-commerce. According to a study conducted by PhocusWright in 2013, MakeMyTrip was marked as the dominant market-leader with 47% market-share. Today, MakeMyTrip enjoys the reputation of being a technology-forward and innovative online travel portal that brings delight to its customers through service and value-based offerings.
Through its website makemytrip.com serves users to book International and Domestic Air Tickets, Holiday Packages and Hotels, Domestic Bus and Rail Tickets, Private Car and Taxi Rentals, B2B and Affiliate Service.
Recently, it received the GSF Mobile Appies Awards 2015 for the Most Innovative Travel App Award and also India’s Leading Online Travel Agency” at the World Travel Awards 2014. The company has been awarded CNBC Travel Award 2013 and the Lonely Planet Travel Award for Best Travel Facilitator 2013 & 2012.
MakeMyTrip has 24 company-owned travel stores in 18 cities, including one in Gurgaon, and 42 franchisee-owned travel stores which primarily sell packages in 38 cities and counters in four major airports in India. Outside India, MakeMyTrip has leased offices in New York, San Francisco, Singapore, Kuala Lumpur, Phuket, Bangkok, Dubai, Amsterdam and Herzliya, Israel. It owns two offices in Phuket.
Key Figures of the Company
Deep Karla is the founder and owner of MakeMyTrip. Prior to MakeMyTrip, he served GE Capital, AMF Bowling Inc. and ABN AMRO Bank, under his stewardship, MakeMyTrip has become the largest online travel company, as well as the largest e-commerce business in India.
Deep is currently a member of the Executive Council of NASSCOM and chairs the NASSCOM Internet Working Group. He also serves as an independent Director for IndiaMart.com, a leading B2B website. Deep is also a founding member of I am Gurgaon, an NGO focused on the improving the quality of life in Gurgaon.
Deep attended St. Stephen’s College, Delhi and belongs to the batch of 1990. He next went to Indian Institute of Management, Ahmedabad in 1992 for PGDM. His interests include swimming, yoga, quizzing and travelling.
Rajesh Magow is the Co-founder & CEO-India of the company. He began his career with Voltas and has also worked with Aptech Limited, Quantum. He was a Chartered Accountant from the Institute of Chartered Accountants of India. Prior to joining MakeMyTrip, he was CFO and acting CEO for the India operations of eBookers.com, now part of Travelport.
He has over two decades of corporate financial and operating experience in the information technology and internet industries. Delivering the all the responsibilities, when he gets time, he plays cricket and badminton. His best stress-buster is to spend time with family.
- August 2010: Company had a successful IPO on NASDAQ, becoming the first Indian travel company to list overseas.
- May 9, 2011: Acquired approximately 79% equity stake in Luxury Tours & Travel Pte Ltd, a Singapore-based travel agency
- November 6, 2012: Acquired complete stake in the companies in the Hotel Travel Group. HT Group has been operating the website hoteltravel.com for more than a decade and has its presence in Thailand, Singapore and Malaysia.
- February 7, 2014: Completed acquisition of the entire equity interest in a group of companies comprising the EasyToBook.com Group. Established in 2004, ETB primarily operates through the website easytobook.com and offers its customers online hotel reservations in Europe, North America and other key global travel destinations.
- September 11, 2014: Announced the institution of a $15 million Innovation Fund to support early stage companies/start-ups in the travel technology space with a special focus on Mobile and IP based companies last year.
- April 22, 2015: Acquired certain assets of Mygola.com to focus on cutting-edge innovation in online travel.