When we Plan for a tour we go through internet for booking of flights and hotels because everyone has internet connection and Smartphone’s but in the year 2000 we don’t have that much technology and websites to search for tourist places, book flights and Hotels, to resolve this Problem and to help people Deep Karla Started a Company called MakeMyTrip and here is the MakeMyTrip success story.
He has done his Bachelor’s degree from the St. Stephens College, Delhi in the year 1987. He post-graduated from the IIM-Ahmadabad. After completing the PG from IIMA he joined in the ABN Amro bank, worked there for three years he quit the job in the year 1995.
After the job, he planned to do something different from other jobs. He surfed the internet and he thought we can create something huge from the online services. After he quit from the ABN Amro Bank he joined the AMF Bowling which is American based company which is planning enter into the Indian markets at the stage, he started 200 lanes in a small center, he survived in the job for the 4 years, he was not happy with what he doing he is planning to do some big thing and start venture like AMF Bowling. He again joined the GE capital in 1999.
while working in the GE he came to know the power of the internet, he thought he can make a big business using the internet, things are vastly moving even in one of the most traditional countries like India, at that point of time he again quit his job and started the planning of the business.
How the journey started??
It’s not so easy to make the reality of an idea and make it successful if any business to be successful it should reach the common man. The idea came into the reality in the year 2000 with making investments of USD 2Million from the eVentures and along with co-founders like – Keyur Joshi, Rajesh Magow and Sachin Bhatia.
After the starting the journey it is not that much easy they faced the capital issues due to the cut down the number of employees and they also got given salaries for the top management for the next 18 months. In the year 2005, the MMT changed the path and speed of the business, in the same year the Indian railways started online ticketing system which makes the passengers book tickets online that make MMT think big they also started the Rail ticket along with hotel bookings and with holiday package booking also.
Rise and overcoming of hurdles:
In 2008 the MakeMyTrip made $5 million by acquiring the 200000 customers when the industry in the recession phase. at the end of 2010, it was listed in the National Association of Securities Dealers Automated Quotations (NASDAQ). Make My Trip has the capability of proving itself in the great risk times and thinking different from the others.
By December 2013 the whooping wealth of $50 million was almost half & revenues were reduced by 5%.in the year 2014 it came up with raise of revenue by 3%, the MMT came up the initiative for supporting the fresh entrepreneur in the travel industry worth of $15 million.
- In the year 2011 MMT acquired the Singapore based travel company.
- In 2011 August Le Travenues Technology Private Limited is acquired by MMT.
- In 2012 Thailand based ITC Company acquired by MMT.
- November 2012 Hotel Travel Group (HT Group) which operates in Thailand, Singapore, and Malaysia is acquired by MMT.
- February 2014 com (ETB) online hotel operator based in Amsterdam is acquired by MMT.
- In 2015 MMT acquired a small start-up called MyGola which is a travel guide.