MakeMyTrip

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MakeMyTrip Limited
Traded asNASDAQ: MMYT
IndustryOnline travel
Founded2000
Founder(s)Deep Kalra
Headquarters
Gurugram, Haryana
,
India
Area served
Worldwide
ProductsBooking flights, hotels, holidays, buses, trains and cars
RevenueDecrease US$163 million (2021)

Increase US$512 million (2020)

Number of employees
3,338 (2022)
ParentMakeMyTrip Limited (MMYT)
Websitewww.makemytrip.com

MakeMyTrip is an Indian online travel company founded in 2000.[1] Headquartered in Gurugram, Haryana, its a company. the company provides online travel services including airline tickets, domestic and international holiday packages, hotel reservations, rail, and bus tickets. As of 31 March 2018, they have 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. MakeMyTrip has also numerous international offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai.

History[edit]

  • 2000: MakeMyTrip was founded by Deep Kalra,[2] an alumnus of IIM-Ahmedabad. It was launched in US market in the year 2000 to cater to the overseas Indian community for their US to India travel needs.
  • 2005 – September: MakeMyTrip started Indian operations in September 2005, offering online flight tickets to Indian travellers. The company also started to focus on non-air businesses like holiday packages and hotel bookings.
  • 2010 – September 17: On 17 August 2010, MakeMyTrip Limited was listed on the NASDAQ after its initial public offering.[3]
  • 2011: In 2011, the company created some travel related apps for mobile devices. MakeMyTrip also made three acquisitions—Luxury Tours and Travel Private Limited (Singapore), ITC Group Hotel Travel Group, and ETB Group—to enter new markets in Southeast Asia and Europe. In September 2014, MakeMyTrip instituted a $15 million innovation fund to support travel start-ups.[4]
  • 2015 – April: MakeMyTrip acquired MyGola, a travel planning website, in April 2015. The acquisition was done through the innovation fund, and all employees of MyGola were absorbed into the MakeMyTrip team.[5]
  • 2015 – July: In July 2015, MakeMyTrip invested in the travel information and hotel review portal HolidayIQ and picked up approximately 30% stake in the company.[6] In the same month, it invested $5 million in Bona Vita Technologies, a start-up which plans to utilise the funds to build innovative products in the travel industry.[7]
  • 2016 – January: In January 2016, the Chinese travel booking company Ctrip agreed to invest $180 million in MakeMyTrip.[8]
  • As of March 31, 2018, the company has 14 company-owned travel stores in 14 cities, including one in their office in Gurugram, over 30 franchisee-owned travel stores which primarily sell packages in approximately 28 cities, and counters in four major airports in India under their brand. They also have offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai.[citation needed]
  • 2021 – May: the company entered into a strategic partnership with the digital payment arm of Amazon⁣—⁣Amazon Pay for providing travel services on Amazon.[9]
  • 2022 – November: the company plans to enhance business-to-business segment.[10]


Mergers, acquisitions and investments[edit]

Number Acquisition / Investment Date Company Business Country Ref(s)
1 May 2011 Luxury Tours and Travel Private Limited travel agency Singapore [11]
2 August 2011 Le Travenues Technology Private Limited which owns Ixigo.com online travel meta search engine India [12]
3 November 2011 My Guest House Accommodation budget lodging and hotel operator India [13]
4 November 2012 Thailand's ITC Group tour operator Thailand [14]
5 November 2012 Hotel Travel Group (HT Group) travel firm Thailand, Singapore and Malaysia [15]
6 February 2014 easytobook.com (ETB) online hotel operator Netherlands [16]
7 June 2015 Inspirock online travel planner USA [17]
8 April 2015 MyGola travel guide start-up India [18]
9 July 2015 Holiday IQ online travel portal India [19]
10 July 2015 Bona Vita Technologies Private Limited travel start-up India [20]
11 January 2017 Ibibo Group online travel agency India [21]
12 July 2018 Bitla Software Travel Software India [22]
13 May 2019 Quest2Travel Travel Management Company India
14 April 2022 BookMyForex Forex Currency and Card Provider Company India [23]

MakeMyTrip and Ibibo Group merger[edit]

In 2016, MakeMyTrip and Ibibo Group, India's largest travel booking portals, merged through a stock transaction. Through this transaction, MakeMyTrip acquired its rival, Ibibo Group, in one of the biggest acquisition in India's online travel space. Post merger, MakeMyTrip shareholders own a 60% stake and Ibibo Group shareholders get a 40% stake. Naspers and Tencent, who jointly owned Ibibo Group, became the single largest shareholder in MakeMyTrip.[24]

Products and services[edit]

MakeMyTrip offers flight tickets to many, villas and apartments, rail and bus tickets, cab service, and hotel booking services on its portal. In 2012, MakeMyTrip launched travel mobile applications for Windows Phone, iPhone, Android, and Blackberry devices. MakeMyTrip route planner provides all the basic required information on more than 10 lakh (1 million) routes in India.[25] MakeMyTrip also offer metro train tickets for Hyderabad Metro.[26][27]

The Organization has also undertaken certain steps to make travelling stress-free, appropriate and pliable.[28]

Awards and recognition[edit]

Year Name of the Award Awarded by Ref(s)
2009 Superbrand Consumer Superbrands India [29]
2009 Best Service Provider Company (tour operators category) Indian Council of Market Research [30]
2010 Most Preferred Travel and Holiday Website IMINT Shoppers and Consumer Insights Awards [31]
2011 Best Online Travel Service Firm Times Travel Honours [32]
2011 Best Domestic Tour Operator Times Travel Honours [32]
2012 Retailer of the Year Franchise India awards [33]
2012 Best Online Tour Company Safari India National Tourism Award [34]
2012 Leisure and Travel E-Retailer Award Franchise India e-Retailer Awards [35]
2012 Best Travel Innovator Travel Distribution World Asia Awards (Budgie & Travel Awards) [36]
2012 Industry Architecture Shift Porter Prize (named after Michael E Porter) [37]
2012 Best Mobile Strategy and Best Mobile Solution Eyefortravel Award [38]
2013, 2009 Best Travel Portal CNBC Awaaz Travel Award [39]
2013, 2012 Best Travel Facilitator (Indian) Lonely Planet Travel Award [40]
2013, 2012 Best Travel Facilitator (Indian) Lonely Planet Travel Award [40]
2015, 2014, 2013, 2012 Best Travel Portal Outlook Traveller Reader's Choice Travel Awards [41]
2014, 2013 e-tailer of the Year ET Retail Awards [42]
2014, 2013 Best Travel Portal India World Travel Awards [43]
2015, 2016 Most Favorite Online Tour Operator Award Readers' Travel Awards 2015- Conde Nast Traveller, 2015 [44]
2016 #1 Company in Ecommerce Industry Great Place to Work Institute - India, 2016 [44]
2016 Business World Golden Cart Award Gold in Travel and Holidays, Business World, 2016 [44]
2016 MMT won 2 Golds in the category- Best Creative Advertising - Single Ad or Campaign E4M Prime Time Awards 2016 [44]
2017 Favorite online tour agent Condé Nast Traveller India [44]
2017 Favorite travel app Condé Nast Traveller India [44]
2017 Best E-Commerce Solution Provider Express IT Award [44]
2017 MMT Assured Campaign won Bronze in the Best Use of Integrated Marketing Campaign category India Marketing Awards - E4M [44]
2017 Gold in the category of Best Travel and Tourism Brand Social Samosa Social Media Awards [44]
2017 Gold in the category of Travel and Holidays Businessworld Golden Cart Awards [44]
2017 Excellence in online travel booking site The South Asia’s largest travel and tourism exhibition (SATTE) [44]
2017 Won Silver as a Recognition of Effective and Impactful Advertising EFFIES [44]
2017 Best E - commerce solution Provider Express IT award 2017 [44]
2018 Wion Buzziest Brand Award for E-commerce Solution Wion [44]
2018 OTA of the year (2018) (India) Times Travel Awards 2018 [44]
2018 Integrated Marketing Initiative of the year for campaign MakeMyTrip International Et Brand Equity Marketing Award [44]
2018 Jury Award for Best Travel Partner Zee Business Travel Awards [44]
2018 Awards for Excellence in Online booking sites The South Asia’s largest travel and tourism exhibition (SATTE) [44]
2018 OTA of the year (2018) (India) Times Travel Awards 2018 [44]
2019 Best Online Travel Agency - B2C Category FICCI Travel & Tourism Excellence Awards [44]
2019 Favorite Specialist Tour Operator CNT India [44]
2019 Best 50 People Capital Index(PCI) companies, Jombay, 2019 [44]
2020 Best Domestic Tour Operator - Operations More Than 5 Years The South Asia’s largest travel and tourism exhibition (SATTE) [44]
2020 Silver for Best B2C Campaign - India, Get a Room ET Brand Equity DigiPlus Awards [44]
2020 Best HR team of the Year Business World, 2020 [44]

References[edit]

  1. ↑ "MakeMyTrip Limited: Private Company Information". Bloomberg L.P.
  2. ↑ "MakeMyTrip bets on hotel business to drive growth". The New Indian Express. Retrieved 2 January 2019.
  3. ↑ "A new journey begins for MakeMyTrip". Rediff. Retrieved 23 November 2018.
  4. ↑ "MakeMyTrip's early-stage investment fund is an extension to M&A strategy: Magow". VCCircle. 23 September 2014.
  5. ↑ Krishnamurthy, Krithika (21 April 2015). "MakeMyTrip acquires travel startup Mygola". The Economic Times.
  6. ↑ Chanchani, Madhav (23 July 2015). "MakeMyTrip picks up 28% stake for 95 crore in HolidayIQ to boost hotels & holidays business". The Economic Times. Retrieved 2 January 2019.
  7. ↑ Jain, Samiksha (31 July 2015). "MakeMyTrip invests $5M in travel start-up Bona Vita, acquires 67% stake". Entrepreneur. Retrieved 2 January 2019.
  8. ↑ Reporter, B. S. (8 January 2016). "Ctrip buys $180-mn stake in MakeMyTrip". Business Standard India. Retrieved 2 January 2019.
  9. ↑ Abrar, Peerzada (1 November 2021). "MakeMyTrip and Amazon Pay form strategic tie-up to offer travel services". Business Standard India. Retrieved 28 November 2021.
  10. ↑ "MakeMyTrip plans to enhance business-to-business segment". Economic Times.
  11. ↑ "MakeMyTrip acquires Luxury Tours & Travels" Archived 1 September 2012 at the Wayback Machine pata.org, 20 May 2011
  12. ↑ "SAIF Partners, MakeMyTrip Buy 76.6% In iXiGO.com For $18.5 Mn" dealcurry.com, 11 August 2011
  13. ↑ "MakeMyTrip buys My Guest House Accommodation Kochhar and ARA advise" barandbench.com, 21 November 2011
  14. ↑ "MakeMyTrip Acquires Majority Interest In Thailand’s ITC Group For $3.2M" medianama.com, 27 November 2012
  15. ↑ "MakeMyTrip acquires Hotel Travel Group for $25 m" The Hindu Business Line.com, 7 November 2012
  16. ↑ "MakeMyTrip acquires EasyToBook.com" livemint, 7 February 2014
  17. ↑ Fox, Linda (24 June 2015). "Inspirock attracts seed funding of $3m, unveils new site". Phocuswire.
  18. ↑ [1], The Hindu. Retrieved on 14 August 2015
  19. ↑ "Makemytrip invests Rs 95 crore in HolidayIQ". The Times of India. 23 July 2015.
  20. ↑ "MakeMyTrip invests $5 million in former Snapdeal CTO's Bona Vita Technologies". The Economic Times. 30 July 2015.
  21. ↑ "CCI nod to MakeMyTrip, Ibibo Group merger" The Economics Times. Retrieved on 21 January 2017
  22. ↑ "MakeMyTrip backs travel-focused tech venture Bitla Software" The Economics Times. Retrieved on 26 July 2018
  23. ↑ "MakeMyTrip arm acquires BookMyForex" livemint. Retrieved on 05 April 2022
  24. ↑ "MakeMyTrip Limited and ibibo Group to combine". www.naspers.com. Retrieved 23 November 2018.
  25. ↑ NextBigWhat. "MakeMyTrip launches routeplanner – competes directly with iXiGo?". www.nextbigwhat.com.
  26. ↑ "MakeMyTrip, Hyderabad Metro launch QR-code based e-tickets for easy mobility". 23 December 2019.
  27. ↑ "MakeMyTrip deploys AI to make bookings easier". 16 October 2019.
  28. ↑ Pr, Ani (29 November 2021). "Travel innovations by MakeMyTrip that promise to make travelling safe, convenient, flexible and hassle-free". ThePrint. Retrieved 13 December 2021.
  29. ↑ "MakeMyTrip.com- Superbrands" superbrandsindia.com. Retrieved 27 June 2013.
  30. ↑ "MakeMyTrip Ties Up with Visa- About MakeMyTrip" thetelegraphindia.com, 23 June 2011
  31. ↑ "Lowest price guarantee on Bus ticket-booking on MakeMyTrip.com" arrowtimesmedia.com. Retrieved 14 February 2013.
  32. ↑ 32.0 32.1 TNN, "Jet Airways, Makemytrip sweep inaugural Times Travel Honours" timesofindia.indiatimes.com, 18 October 2011
  33. ↑ Gunjan Piplani, "Retailers eye tier II & tier III cities in 2013" indianretailer.com.Retrieved 20 March 2013.
  34. ↑ "Safari India National Tourism Awards" patwainternational.com. Retrieved 14 February 2013.
  35. ↑ "Leisure & Travel E-Retailer Award" franchiseindia.com, 2012
  36. ↑ "Celebrating Excellence in Asia's Low Cost Aviation and Travel Industry" Archived 14 February 2014 at the Wayback Machine Budgie$ & Travel Awards – terrapin.com, 9 February 2012
  37. ↑ Abhinandan Mishra, "Porter Prize 2012 awarded" Archived 9 January 2015 at the Wayback Machine Porter Prize- Sunday Guardian. Retrieved 2010-10.
  38. ↑ "Social Media & Mobile in Travel Asia 201327-28th November 2013, Langham, Hong Kong" Archived 7 August 2013 at the Wayback Machine events.eyefortravel.com. Retrieved 27 June 2013.
  39. ↑ "MakeMyTrip.com awarded the best Travel & Tourism company in India" afaqs.com, 10 May
  40. ↑ 40.0 40.1 "Lonely Planet Magazine India launches first-ever Travel Awards on 3rd May" Archived 3 May 2012 at the Wayback Machine mediavataar.com, 30 April 2012
  41. ↑ "Readers’ Choice Winners" Archived 6 September 2013 at the Wayback Machine Outlook Traveller Magazine, 1 February 2013
  42. ↑ ""Honouring Excellence in Retail"".
  43. ↑ "World Travel Awards 2014 Asia Winners". World Travel Awards.
  44. ↑ 44.00 44.01 44.02 44.03 44.04 44.05 44.06 44.07 44.08 44.09 44.10 44.11 44.12 44.13 44.14 44.15 44.16 44.17 44.18 44.19 44.20 44.21 44.22 44.23 44.24 Make My, Trip (9 November 2022). "Awards and recognition Makemy Trip". makemy trip. Retrieved 9 November 2022.

External links[edit]

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