MakeMyTrip

MakeMyTrip Limited is an Indian online travel company, founded in 2000. Headquartered in Gurugram (also known as Gurgaon), Haryana, the company provides online travel services including flight tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets. 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 MakeMyTrip brand. MakeMyTrip also have offices in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, and Dubai.

Video MakeMyTrip

History

MakeMyTrip was founded by Deep Kalra, an alumnus of IIM-Ahmedabad. It was launched in the US market in the year 2000 to cater to the overseas Indian community for their US-to-India travel needs. MakeMyTrip started its Indian operations in September 2005, offering online flight tickets to Indian travelers. The company also started to focus on non-air businesses like holiday packages and hotel bookings. On 17 August 2010, MakeMyTrip was listed on the NASDAQ and went public, making a debut in the US market.

In 2011, the company created several travel-related apps for all types of mobile devices (smartphones and basic cell phones). MakeMyTrip also made three acquisitions, namely, Luxury Tours and Travel Private Limited (Singapore), ITC Group Hotel Travel Group and ETB Group, over the years, to enter new markets in South - East Asian region and Europe. In September 2014, MakeMyTrip instituted a $15 million innovation fund to support early-stage companies in the travel space.

MakeMyTrip acquired MyGola, a travel planning website in April 2015. The acquisition was done through the innovation fund and as part of the acquisition, all employees of MyGola were absorbed into the MakeMyTrip team.

In July 2015, MakeMyTrip invested in travel information and hotel review portal, HolidayIQ to pick up approximately 30% stake in the company. In the same month, it also invested $5 million in Bona Vita Technologies, a start-up which plans to utilize the funds to build innovative products in the travel industry.

In January 2016, the Chinese travel booking company Ctrip agreed to invest $180 million to MakeMyTrip.

Maps MakeMyTrip

Mergers, Acquisitions and Investments

MakeMyTrip to buy rival Ibibo India Travel business for $720 million

MakeMyTrip and Ibibo Group Merger

MakeMyTrip and Ibibo Group merged through a stock transaction, representing the coming together of India's largest travel booking portals. Through this transaction, MakeMyTrip acquired its rival, Ibibo Group, in one of the biggest acquisition in India's online travel space. Post the merger, MakeMyTrip shareholders own 60% stake whereas Ibibo Group shareholders get 40% stake, making Naspers and Tencent the single largest shareholder in MakeMyTrip.

Products and services

MakeMyTrip offers flight tickets, rail and bus tickets, cab service and hotel booking services on its portal. In 2012, MakeMyTrip launched travel mobile application for Windows Phone, iPhone, Android and Blackberry devices. MakeMyTrip route planner provides all the basic required information on more than 1 million routes in India.