EaseMyTrip

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EaseMyTrip
Traded as
ISININE07O001018
IndustryOnline travel
Founded2008
Founder(s)sNishant Pitti, Rikant Pitti, Prashant Pitti
Headquarters
New Delhi
,
India
Area served
Worldwide
ProductsBooking flights, hotels, holidays, buses, trains and cars
RevenueRs 2400 crore (FY17-18)[1]
Websitewww.easemytrip.com

EaseMyTrip is an Indian online travel company founded in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti. Headquartered in New Delhi, the company provides hotel bookings, air tickets, holiday packages, bus bookings, and white-label services. EaseMyTrip has overseas offices in Singapore, Dubai, Maldives, and Bangkok.[2]

History[edit]

The idea for EaseMyTrip came when the brothers, Nishant Pitti and Rikant Pitti used to book air tickets for their father's frequent business trips, and saved money in the booking process. Initially based out of their home garage as a travel agency, the duo lost all of the initial investment within the first three months.[3] Later on, references from family and friends helped and a major turnaround came when an airline noticed multiple bookings coming from a single email id and contacted the Pitti brothers to become its travel partner.[4]

EaseMyTrip has a network of 42,000 travel agents, 1200 franchise outlets, 640 white-label solutions, and 1600 distributors.[2] Nandan Jha joined as the COO in 2017[5] and Abani Kant Jha as the CFO in 2019.[6]

EaseMyTrip filed for a ₹510 crore ($72.13 million) initial public offering (IPO) with the Securities and Exchange Board of India (SEBI) in 2019,[7][8] making them the first online travel agency to be listed on the Indian share market.[9] The issue was managed by Axis Bank and JM Financial.[10]

On 14 September 2019, FoodforTravel announced its partnership with EaseMyTrip to provide special offers like free ready-to-eat meal to its customers.[11] In January 2020, EaseMyTrip announced it will allow users to book flight tickets via WhatsApp. Users can activate the autonomous interactive program by sending a message and the booking bot will guide users through the end-to-end process.[12]

In 2020, EaseMyTrip filed its IPO, opening for subscription on 8 March 2021 and listed on the stock market on 19 March 2021.[13] HSBC Global Investment Funds, Tata Trustee Company, Aditya Birla Sunlife Insurance Company, Nomura, Sundaram Mutual Fund, Nippon Life India Trustee Company, and Bajaj Allianz Life Insurance Company are its anchor investors.[14] The IPO was subscribed over 159 times.[15]

Recognition[edit]

  • Best Travel Booking Site - SATTE (2020)[16]
  • Best Travel Booking App/Website - Times Travel Awards (2019)[17]

References[edit]

  1. ↑ "EaseMyTrip achieves a turnover of Rs 2400 crore in FY17-18". Moneycontrol. Retrieved 2019-06-03.
  2. ↑ 2.0 2.1 "EaseMyTrip looks to raise up to Rs 750cr via IPO; books Axis Capital, JM Financial as bankers". Moneycontrol. Retrieved 2019-06-03.
  3. ↑ Modi, Ajay (2017-01-12). "Aggressive EaseMyTrip flies into top league". Business Standard India. Retrieved 2019-06-03.
  4. ↑ "EaseMyTrip faces cash flow issues as forward bookings drop, refunds continue". cnbctv18.com. Retrieved 2020-10-09.
  5. ↑ "Nandan Jha joins EaseMyTrip as COO". afaqs.com. 2017-11-23. Retrieved 2019-06-03.
  6. ↑ Modgil <[email protected]>, Shweta; Ltd, People Matters Media Pvt (2019-07-05). "EaseMyTrip names Abani Kant Jha as CFO". People Matters. Retrieved 2019-07-08.
  7. ↑ "EaseMyTrip files papers for Rs 510 crore IPO". The Economic Times. 2019-12-15. Retrieved 2019-12-23.
  8. ↑ "EaseMyTrip Files Draft Papers For IPO, Looks To Raise $72 Mn". Inc42 Media. 2019-12-15. Retrieved 2019-12-23.
  9. ↑ www.ETtech.com. "EaseMyTrip plans to raise Rs 700 crore from public issue - ETtech". ETtech.com. Retrieved 2019-12-11.
  10. ↑ "EaseMyTrip's IPO Plans May Go Live Soon To Raise INR 700 Cr". Inc42 Media. 2019-12-11. Retrieved 2019-12-11.
  11. ↑ "FoodforTravel partners with EaseMyTrip.com". Outlook (India). Retrieved 2019-09-17.
  12. ↑ Naik, Amit Raja (2020-01-23). "EaseMyTrip To Allow Users To Book Flight Tickets On WhatsApp". Inc42 Media. Retrieved 2020-09-23.{{cite web}}: CS1 maint: url-status (link)
  13. ↑ "EaseMyTrip IPO is set to open on Monday — price band for the issue set at ₹186 to ₹187 per share". Business Insider. Retrieved 2021-03-03.
  14. ↑ "Easy Trip Planners IPO opens for subscription: Check issue price, GMP, other details; should you subscribe?". www.businesstoday.in. Retrieved 2021-03-09.
  15. ↑ "Easy Trip Planners IPO subscribed over 159 times on last day". The Economic Times. Retrieved 2021-03-16.
  16. ↑ SATTE 2020 Winners
  17. ↑ https://plus.google.com/107324234873078450867 (2019-09-13). "EaseMyTrip Teams Up with 20th IIFA Awards as Travel Partner". Indian Television Dot Com. Retrieved 2021-03-09. {{cite web}}: |last= has generic name (help); External link in |last= (help)

External links[edit]

Template:Travel ticket search engines


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