MakeMyTrip
Indian online travel company From Wikipedia, the free encyclopedia
MakeMyTrip Limited is an Indian online travel company, headquartered in Gurgaon.[2] Founded in 2000, the company provides online travel services including airline tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets.[3] MakeMyTrip also has international offices located in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, Dubai, and Istanbul.[4]
 | This article contains promotional content. (August 2023) |
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Screenshot of mobile application | |
| Company type | Public |
|---|---|
| Nasdaq: MMYT | |
| Industry | Online travel |
| Founded | 2000 |
| Founder | Deep Kalra |
| Headquarters | , India |
Area served | Worldwide |
Key people | |
| Products | Booking flights, hotels, holidays, buses, trains and cars |
| Revenue | US$783.0 million (FY2024)[1] |
Number of employees | 3,338 (2022) |
| Website | www |
In September 2019, Ctrip/Trip.com Group[5] completed a share exchange with Naspers and became the single largest shareholder of MakeMyTrip.[6][7]
In 2016, MakeMyTrip acquired the Ibibo group, which owned sites such as Goibibo and Redbus.in.[8]
History
Summarize
Perspective
Founded by Deep Kalra,[2] an alumnus of IIM-Ahmedabad, in 2000, MakeMyTrip was launched in the US market to cater to the overseas Indian community for their US to India travel needs. It started its Indian operations in September 2005 by offering online flight tickets to Indian travellers and also started focussing on non-air businesses like holiday packages and hotel bookings.[9]
MakeMyTrip Limited was listed on the Nasdaq on 17 September 2010 after its initial public offering.[10] In 2011, MakeMyTrip also acquired 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 2012, MakeMyTrip launched RoutePlanner, allowing users to search routes and travel modes within India.[11][12] In September 2014, MakeMyTrip instituted a $15 million innovation fund to support travel start-ups.[13]
In April 2015, MakeMyTrip acquired MyGola, a travel planning website. The acquisition was done through the innovation fund, and all employees of MyGola were absorbed into the MakeMyTrip team.[14] In July 2015, MakeMyTrip invested in the travel information and hotel review portal HolidayIQ and picked up approximately 30% stake in the company.[15] In the same month, it invested $5 million in a startup called Bona Vita.[16]
In January 2016, the China-based travel booking company Ctrip agreed to invest $180 million in MakeMyTrip.[17] Later that year, MakeMyTrip and Ibibo Group, India's largest travel booking portals, merged via a stock swap. Naspers became the largest shareholder of MakeMyTrip after the transaction.[8] In 2019, Ctrip increased its stake in MakeMyTrip to 49% by acquiring 42% of the company from Naspers through a stock swap transaction. As a result, Naspers obtained a 5.6% stake in Ctrip worth $1.3 billion.[18]
The company acquired the Mumbai-based corporate travel management company Quest2Travel for an undisclosed amount in 2019.[19] The company launched myPartner in 2020, a platform for travel agents.[20] In May 2021, the company partnered with Amazon Pay for providing travel services on Amazon.[21] In April 2022, TripMoney, the fintech arm of MakeMyTrip, announced the acquisition of BookMyForex, an online foreign exchange services provider.[22]
Products and services
Summarize
Perspective
MakeMyTrip provides flights, places to stay, villas and homestays, rail and bus tickets, inter-city cab service, holiday packages, forex, and hotel booking services on its portal. In 2012, MakeMyTrip launched travel mobile applications for Windows Phone, iPhone, Android, and Blackberry devices. As of June 2023,[update] the company has 146 active franchisees.[3]
Air-ticketing
The company started its air ticketing operations in 2000 under the MakeMyTrip brand. Their air ticketing business primarily serves domestic and international travel to and from India.[23] In 2017, they expanded their operations by acquiring the Ibibo Group, which operates the Goibibo brand.[24]
Hotels
MakeMyTrip ventured into the hotels and packages business in 2005 and manages it through MMT India and Goibibo.[25] As of 2020, it had over 60,000 accommodation properties in India and 5,00,000 outside the country listed on its site.[26]
Bus-ticketing
The company owns and operates its bus ticketing business primarily through redBus, an online platform for bus ticketing.[27] The company has partnerships with various major bus operators in India, Peru, Colombia, and select countries in Southeast Asia.[28]
Forex
In 2016, a partnership was formed with MakeMyTrip to integrate forex services of BookMyForex into MakeMyTrip's platform.[29]
References
External links
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