MakeMyTrip: Flying High

It was in the year 2000 that MakeMyTrip Ltd. Was established. Since then this popularly searched online travel company has never looked back and is gaining in volume of users. This company has its headquarters in Gurugram, Haryana. It offers wide range of online travel services which includes flight tickets, international and domestic holiday packages, bus & rail tickets, hotel reservations and much more. This company boasts of having 14+ owned travel stores spread across 14 cities including 30+ franchisee owned travel stores over 28 cities. Also there are counters launched at the four major airports in the country. It also has international offices located in New York, Kuala Lumpur, Singapore, Bangkok, Dubai and Phuket.

Its history

The founder of this company is Deep Kalra, regarded to be an IIM-Ahmedabad chapter alumnus. In 2000, this company launched services in the U.S. market to cater the Indian community residing there to meet their India travel needs. In September 2005 started its Indian operations, providing travellers with online flight tickets. It also focused on various non-air related businesses such as hotel bookings and holiday packages. After initial public offering on 17th August 2010, it got listed on NASDAQ.

Achievements

The company in 2011 had come up with numerous travel related apps meant exclusively to be used on mobile devices. Three acquisitions were also made during this time, which is ETB Group, ITC Group Hotel Travel Group and Luxury Tours & Travel Pvt. Ltd. (Singapore). This helped them to penetrate the European and South East Asian markets. They also launched 15 million dollar innovation fund in September 2014 to support small and start-up travel companies. In April 2015, they acquired a travel planning site named MyGola, carried out through innovation fund, thereby absorbing all its employees on the MakeMyTrip team.

They also invested in hotel review and travel information portal named HolidayIQ in July 2015, picking around 30% company stake. The same month also witnessed their investing in Bona-Vita Technologies of an amount of $5 million. This start-up has plans to make use of funds to develop innovative travel related products. Ctrip, a popular Chinese travel booking firm had planned to make investment of $180 million in this company in January 2016.

Grand merger of Ibibo & MakeMyTrip

The country’s biggest travel booking portals, Ibibo Group and MakeMyTrip in 2016 got merged via stock transaction. It is this transaction that helped MakeMyTrip to acquire its rival and is considered to be the country’s biggest online travel space acquisition. Post-merger, the shareholders of this company are said to own 60% stake, with 40% stake held by Ibibo Group shareholders. The single largest shareholders of MakeMyTrip are Tencent & Naspers, the joint owners of Ibibo Group.

Services and products offered

This reputed online travel company has become a household name offering myriad of products and services to its customers spread all over the country and abroad. It offers bus, rail & flight tickets, hotel and cab booking services through its portal. Travel mobile apps also have been launched for Blackberry, Android, iPhone and Windows Phone devices. One can use makemytrip promo code to avail huge savings.

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