One of the pioneering start-ups in the country, MakeMyTrip was founded way back in 2000 by Deep Kalra with early-stage funding, mainly focusing on the NRI travel space. With the rise of internet access in the country, the company launched itself into the domestic market in 2005 and paved the way for numerous others to follow. Having the first mover advantage, Make My Trip revolutionised the travel industry.
MakeMyTrip’s early years were difficult as the global internet meltdown, the 9/11 attacks and the SARS outbreak damaged the global travel industry. By shrinking the team and bootstrapping the venture, Kalra endured these tough times. However, perseverance paid off when Low-Cost Carriers were launched in 2004. By grabbing this opportunity and partnering with investors SAIF, MakeMyTrip got the push it needed.
The rest of the journey has been nothing short of spectacular as Indian travellers embraced MakeMyTrip’s model. In 2010, the company took the wise decision to list itself in the US where it raised more than $1 billion in collections – way more than the expected $70 million amount.
Today, MakeMyTrip holds the title of the leading online travel platform in the country by offering a plethora of services like flight tickets, domestic and international packages, hotel reservations and rail & bus tickets. It also launched itself on the mobile platform in 2012.
From a humble Delhi start-up to a travel industry heavyweight, MakeMyTrip’s journey is nothing but inspiring which proves how far an idea can transform if it is fuelled and kept alive.
My Big Plunge is a journey into the entrepreneurship, fearless ideas & startups from India & around the globe. Founded by Ashutosh Bhattacharya, My Big Plunge took off with a series of video documentaries that covered numerous rising start-ups and entrepreneurs. The series continues to this day and has featured young entrepreneurs, inspiring thought leaders as well as social entrepreneurship ventures.
Do write to firstname.lastname@example.org to share your comments and views. And do hit the subscribe button.
For more details visit:
© A 10MinutesTo1.com production.