MakeMyTrip is an Indian online travel company founded in 2000. Headquartered in Gurugram, Haryana, the company provides online travel services including flight tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets, etc. The company also operates through 51 retail stores across 47 cities in India, along with offices in New York City. MakeMyTrip is one of the leading online travel agencies in India.
Video MakeMyTrip
History
MakeMyTrip was founded by Deep Kalra, an alumnus of IIM-Ahmedabad. It was launched in the US market in 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 August 17, 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, Chinese travel booking company Ctrip agreed to invest $180 million to MakeMyTrip.
Maps MakeMyTrip
Mergers, Acquisitions and Investments
Makemytrip and Ibibo 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 rival ibibo in what has been pegged as the biggest acquisition in India's online travel space. At the closing, MMYT shareholders own 60 % whereas ibibo Shareholders get a 40 % stake, making Naspers and Tencent the single largest shareholder in MakeMyTrip.
Products and services
Offers flight tickets for travel, Rail and Bus tickets, cab Service and hotel booking. In 2012, MakeMyTrip launched travel mobile application (apps) for Windows Phone, iPhone, Android and Blackberry devices.
Makemytrip route planner provides all basic required information on more than 1 million routes in India.
Awards and recognition
References
External links
- Official website
Source of the article : Wikipedia
0 Comments