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26 Nov 2022
26 Nov 2022
Earlier people used to stand in queues for booking parts of flight tickets or even hotel rooms of their choice. But with the rise of online booking websites, this process has become convenient for customers to book tickets, which also offer them discounts. After the failure of many online booking websites, there came MakeMyTrip which became the leader in online ticket booking segments.
MakeMyTrip is an Indian online travel company founded in 2000. It has its headquartered in Gurugram, Haryana. It provides online travel services including airline tickets, domestic and international holiday packages, hotel reservations, rail, and bus tickets as well. It has its international offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai.
At MakeMyTrip, our vision is to make travel simple and fun for all, and our core values guide us in making this possible.
The founder and CEO of MakeMyTrip, Deep Kalra is an Indian businessman who is the Founder & Chairman of the company MakeMyTrip. He was born in Hyderabad in 1987 and bought up in Delhi and Ahmedabad. He is working as the CEO of MakeMyTrip since August 2013.
He completed his graduation from St. Stephen College, Delhi in Economics honors. He also pursued his MBA from the Indian Institute of Management Ahmedabad, and later joined an ABN AMRO after graduation from IIM Ahmedabad. He worked for three years there and later worked for AMF Bowling, an American company hoping to enter in the Indian market. Later he started working at JE Capital to help business development.
MakeMyTrip works with the Business-to-Customers (B2C) business model and provides fruitful services to customers by helping them book their tickets online conveniently. It also helps the customers to enjoy planning their holidays by offering them different holiday packages and other convenience services.
Deep Kalra met all the top players in the Indian internet space. He was inspired by the internet and was aware that it was very hard to travel in India. It was very difficult to provide a hassle-free experience to the people in the travel segment. He came up with the MakeMyTrip in the year 2000. Initially, Indians were not getting trust on it, and they were not using credit cards online. Some time passed and the business got a good customer base.
IRCTC launched its first online business model, which was accepted by the Indians, and enabled them to purchase railway tickets on the internet.
It came up with a plethora of opportunities for the travel market in India, and here MakeMyTrip availed the benefit of this opportunity and took a risk.
Apart from the flight tickets, it also offered holiday packages to the customers. The hotel booking was followed by the IRCTC booking too, and this brought a bonanza to them by increasing their presence in railway ticket booking, and a boost in the Indian market. This helped the company to reach the height of success.
They soon started receiving high demand that one out of every twelve domestic flights in India was booked to make my trip, and within a year the company acquired thousands and lakhs of customers and earned profit a hundredfold.
The company also brought a lot of changes in the model and came up with multi-city flight booking services, with the addition of chopper driving, and online cab rental services, and created several travel-related apps for all types of mobile devices. It brought several opportunities for youngsters.
While growing the business also focused on expanding its business and increasing its profit, and hence started doing marketing in an exceptional manner to reach a wide range of audiences. It acquired unique marketing strategies and product development which boosted the revenue of the company.
The company has good revenue from different sources. It majorly charges from online bookings. It attracts the interest of the customers towards it by purchasing the tickets from private airlines in bulk and then providing that to customers with the most affordable flight tickets. It also advertises holiday packages of various hotels on its website, which brings a good source of income for the company.
It gets a great source of income from flight tickets. It is also associated and registered with hotels and buses as well. Also, the company gets the major source of revenue from Tata, Kingfisher, SpiceJet, and many more.
The company earned 299.66 Million Dollars in 2015, and 336 Million Dollars in 2016, whereas in the year 2017 the company shows its earnings of 448 Million Dollars, and 675 Million Dollars in the year 2018. It earned 486 Million Dollars in the year 2019, 512 Million Dollars in the year 2020, and 163 Million Dollars.
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