StartUp Story Of Make My Trip with Founder Deep Kalra

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“Some of the best businesses have not seen the light of ray because some Entrepreneurs gave up too early.” ~ DEEP KALRA, Founder & Group CEO, Make My Trip.

Founded by Deep Kalra in 2000, Make My Trip Limited is an Indian Online Travel Company.

Make My Trip founder Deep Kalra has a Net Worth of $136 Million.(apporx)

 

Make My Trip avails flight – bus- rail tickets , hotel reservations for international and domestic holiday packages.

Headquartered in Gurugram, MMT expanded itself to company-owned travel stores in 14 Indian cities.

Owing to international expansion, MMT have offices in NewYork, Singapore, Kuala Lumpur, Phuket, Bangkok and Dubai.

 In 2010 Make My Trip lists itself on NASDAQ.

 

Idea of Make My Trip

This high end idea strikes the mind of Deep Kalra while booking car online for his wife.

Deep Kalra was very much fascinated by the exploring possibilities of the Internet over the coming years. 

The thought of providing travel services at competitive prices, ignited the entrepreneural skills of Deep Kalra. 

 

An Entrepreneur is always an Opportunist

Deep Kalra said, “Better money, Affordability and Connectivity has increased the interest in travelling.”

Analysing the affirmative attitude of Indians towards vacations and weekends, Deep, grabs the opportunity with both his hands.

 

Make My Trip Founder, Deep Kalra’s Vision

Exploring the innumerous internet possibilities, Deep Kalra had a vision to provide one stop shop to customers for all their travel needs.

It acknowledges the affordability of prices by eliminating travel agents and directly booking the tickets through Make My Trip.

 

But you know where it all had started??

Okla Phase -1, railway buggy compartment, comes out to be the birth place of this UNICORN Company.

Deep kalra, IIM Ahemdabad pass-out left his job three year old job at ABN AMRO.  

He with other two of his colleagues started handling tickets telephonically then.

 

Hurdles turn to be stepping stones for MMT ‘s success

Founded in 2000, Make My Trip hit hard from the recession of 2001-2003  in its budding stages.

Kalra told,”The meltdown of Dotcom, exit of venture capital from India, and the 9/11 attacks.”

He said tough times bind the team together and these tough times acts as stepping stones to MMT‘s success.

 

What keeps him going in tough times?

Deep kalra, says in an conversation with IIM Ahemdabad students that in 2001-2003 it was tough times for Make My Trip.

 

• He and his other two buddies had to take 100% salary cuts in order to cover the costs.
• They set monthly performance targets, so instead of 365 tough days they chose 12 hard months to survive. He says it actually build our faith in each other to not to give up!
•  Working consistently towards their goals passionately for more than 18 hours a day without taking leaves on Saturdays and Sundays.

 

Services offered by Make My Trip

MMT offers a wide range of products and services like air-rail-road tickets, hotel accomodations, domestic and international holiday packages. 

 

Revenue of MMT

• MakeMyTrip recorded a gross profit of 499.38M in FY 2018 compared to 273M in FY 2017 and 169M in FY 2016.
• In FY 2018 , MMT reported its highest revenue of 675.26 M.
• Airline ticketing turns out  to be the biggest contributor in revenue of MMT which is approximately 56% of the total revenue. 

 

 

Customer centered approach of
Make My Trip

• “Customer comes first “  Strategy opted by Make My Trip makes it a clear leader in the industry.
• Chatbots helped to solve customer problems and queries – Gia for Goibibo and Myra for Make My Trip. 
• Ranvir Singh and Alia Bhatt as the brand Embassador of the Make My Trip endorse real-life customer problems in ADs, to make the customer aware of the application. 

 

Growing Era of Make My Trip

Make My Trip focuses on technology innovations in order to provide improvised products to the customers.

It instituted almost $15M innovation fund to fund travel space companies. 

• The Company reported revenue upsurge in hotel business by 140% after listing in NASDAQ.
• Deep said,”Make My Trip logged over 94M monthly shopping visits and over 70 M monthly active users in third quarter of fiscal.”
• It acquires “Luxury Tours , Travel Pvt. Ltd. (Singapore), ITC Hotel Travel Group, MyGola “.
• Ibibo Group’s travel business was bought by MMT , in an all-stock deal. 
• MakeMyTrip has a valuation of $2.4Billions.

Deep Kalra’s Equity Share in Make My Trip

Jansus Capital Management LLC owns 6.92% of the Make My Trip.

Ward Ferry Management Ltd. have 6.02% equity stake in MMT.

Followed Make My Trip founder Deep Kalra, who holds nearly 5.68% in Equity Cult of MMT.

 

Make My Trip‘s Market Competitors

OYO, Yatra and Cleartrip happens to be Make My Trip’s rivalries in the online travel business.

 

Deep Kalra gives his valuable advice to Entrepreneurs..

Deep Kalra says he always welcomes the decision of his employees leaving the job to initiate the Startup. 

One piece of advice he gives to budding Entrepreneurs happens to be “Don’t look at real view mirror in 4-5 yrs” and this advice is consistent over the years , he says.

He acknowledges that some Entrepreneurs want immediate fruits and therefore they gave up in the initial stages because they think the proposition is not soo profitable.

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Also Read : Success Tips From Warren Buffett.

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The quote by Robert Schuller which says , “Tough Times  Never Last ,  But Tough People Do“ is very well implied to this determined man full of wisdom and preseverance -MR. Deep Kalra!

From Railway Buggy to $2.4 B Company , MakeMyTrip‘s success lies in the hands of its founder.“DEEP KALRA” is the MAN behind the success of the Make My Trip .

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