Indian Startup Success Stories That Will Inspire You MakeMyTrip - Prime Insights - Business Magazine

Indian Startup Success Stories That Will Inspire You MakeMyTrip

MakeMyTrip

Indian Startup Success Stories That Will Inspire You MakeMyTrip

  • MakeMyTrip is India’s leading online travel company providing online services like travel packages, hotels, flights, rail, bus tickets, etc. to its clients. MakeMyTrip, a brainchild of Deep Kalra, an IIM Ahmedabad alumnus, has revolutionized the travel industry over the years. The company was originally started in the US market in 2000 to cater to the needs of NRIs for their Indo-American trips. In India, it launched its operations in 2005, starting with flight tickets. After a few years, the company was successfully listed in NASDAQ. 

How the Journey of MakeMyTrip Started

  • The career of Deep Kalra started post-completion of his MBA and appeared for placements. He was one of the brilliant students. He moved on to work with top-class organizations such as ABN AMRO Bank, GE capital, and some others too. After quitting highly paid jobs, Deep took a break. He noticed that the Internet was growing rapidly among the people. Moreover, he saw that people used to mess up with brokers and owners for room booking and all. Thereafter, with the funding of USD 2 million and other co-founders like Sachin Bhatia and Keyur Joshi, he laid the foundation of MakeMyTrip.

Phases of the Success Journey

Irregular Start 

  • It happens many a time that we decide to work and aim for something. However, the worst thing is that not everybody could start perfectly. The initial phase of MakeMyTrip was not a smooth sail. This was because, when MakeMyTrip began its operations, the internet had started to evolve in India. Due to this, there was a lack of apprehension and distrust among the people about this website and hence, they chose to ignore it.
  • The situation of the company became weak because of which Deep has to make some big decisions. The employee strength of the company was reduced by half due to his decisions. Moreover, he was even not able to pay the salaries of the remaining employees.
  • Deep had the brightest of the minds. He figured it out about how to grow his startup and after regular thinking and hard work, he started providing online ticket reservations to the people who visited India from the US.

Steady Rise & Popularity

  • After some time, the decisions of Deep proved to be a masterstroke. The company started to grow and came out of the financial crunch. Soon, Indian Railways started selling the train tickets online to their passengers. After the launch of the online reservation of tickets, the whole process of ticket booking became smooth for the people. This resulted in a boom in online ticket reservations. Deep thought that it was the perfect time to make a hit. Finally, in September 2005, he launched the ticket reservation services on MakeMyTrip for the Indian population too. As MakeMyTrip showed a spurt in growth in online ticket reservations, he further launched some holiday packages and offers which attracted lots of travelers seeking good propositions for travel. 
  • This dedication resulted in a roaring profit of a 27.7% rise in revenues. With an investment of around 2 million in starting, MakeMyTrip reached a profit of around $10 million.  Later, MakeMyTrip also launched its online app for the benefit of the customers.

About the founder

  • Deep Kalra, Chairman, and Group CEO have steered MakeMyTrip since its inception in 2000, to a successful listing on NASDAQ in August 2010. He has been recognized and awarded many prestigious awards. Some of them have been listed below:
  • ‘Internet Man of the Year‘ by the Internet and Mobile Association of India(IAMAI) in 2010
  • Entrepreneur of the Year by Ernst & Young – Business Transformation in 2011
  • Most powerful Digital Influencerin India by Klynveld Peat Marwick Goerdeler (KMPG) in 2012
  • Besides the success on the entrepreneurial front, Deep Kalra is also an angel investor in the Internet space and is the president of The Indus Entrepreneurs. He is also a founding member of the NGO ‘I am Gurgaon’ that works on improving the quality of life in Gurgaon.

Few Significant Achievements of MakeMyTrip

  •  
  • The success story of MakeMyTrip includes numerous achievements too. Some of them are:
  • Member of the Executive Council of NASSCOM.
  • “Best Online Travel Service Firm” award by Times Travel Honours (2011).
  • “E-tailer of the Year” award by E.T. Retail Awards (2014, 2013).
  • Member of CII’s Tourism sub-committee.
  • Chairperson of the NASSCOM Internet Working Group.

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