Founded by Deep Kalra,[4] an alumnus of IIM-Ahmedabad in year 2000 MakeMyTrip was launched in US market to cater to the overseas Indian community for their US to India travel needs. It started its Indian operations in September 2005 by offering online flight tickets to Indian travellers and also started focussing on non-air businesses like holiday packages and hotel bookings.
2011: In 2011, the company created some travel related apps for mobile devices. MakeMyTrip also made three acquisitions—Luxury Tours and Travel Private Limited (Singapore), ITC Group Hotel Travel Group, and ETB Group—to enter new markets in Southeast Asia and Europe. In September 2014, MakeMyTrip instituted a $15 million innovation fund to support travel start-ups.[6]
2015 – April: MakeMyTrip acquired MyGola, a travel planning website, in April 2015. The acquisition was done through the innovation fund, and all employees of MyGola were absorbed into the MakeMyTrip team.[7]
2015 – July: In July 2015, MakeMyTrip invested in the travel information and hotel review portal HolidayIQ and picked up approximately 30% stake in the company.[8] In the same month, it invested $5 million in Bona Vita Technologies, a start-up which plans to utilise the funds to build innovative products in the travel industry.[9]
2016 – January: In January 2016, the travel booking company Ctrip agreed to invest $180 million in MakeMyTrip.[10]
2018 – March: In March 2018, the company had 14 company-owned travel stores across 14 cities.[11][12]
2019 – The company acquired the Mumbai-based corporate travel management company Quest2Travel for an undisclosed amount.[13]
2020 – The company launched myPartner in 2020, a platform for travel agents.[14]
2021 – May: the company entered into a strategic partnership with the digital payment arm of Amazon—Amazon Pay for providing travel services on Amazon.[15]
2022 – March: By March 31, 2022, the company had over 125 franchisee-owned travel stores throughout India.[16] They also leased offices in South-East Asia, Dubai, the USA, and Latin America.[3][17]
January 2022 - MakeMyTrip changed positioning to India's Travel Superapp and enhanced business-to-business segment and consolidating growth for myBiz.[18]
In April, TripMoney, the fintech arm of MakeMyTrip, announced the acquisition of BookMyForex, an online foreign exchange services provider, BookMyForex.[19]
October 2023 - MakeMyTrip clocks profit of $2 million in Q2FY24, to acquire Savaari Car Rentals[21]
MakeMyTrip and Ibibo Group merger
In 2016, MakeMyTrip and Ibibo Group, India's largest travel booking portals, merged through a stock transaction. Through this transaction, MakeMyTrip acquired its rival, Ibibo Group, in one of the biggest acquisition in India's online travel space.[22][better source needed]
Products and services
MakeMyTrip provides flights, places to stay, villas and homestays, rail and bus tickets, inter-city cab service, holiday packages, forex, and hotel booking services on its portal. In 2012, MakeMyTrip launched travel mobile applications for Windows Phone, iPhone, Android, and Blackberry devices. In 2012, MakeMyTrip launched routeplanner, allowing users to search across 1 billion routes and modes within India.[23] It provides information on distance, available modes of transport (flights, trains, buses, cabs), estimated duration, and fares.[24]
Booking and ticketing
Air-ticketing
The company started its air ticketing operations in 2000 under the MakeMyTrip brand. Their air ticketing business primarily serves domestic and international travel to and from India.[25] In 2017, they expanded their operations by acquiring the ibibo Group, which operates the Goibibo brand.[26]
Hotels
MakeMyTrip ventured into the hotels and packages business in 2005 and manages it through MMT India and Goibibo.[27] As of 2020, it had over 60,000 accommodation properties in India and 5,00,000 outside the country listed on its site.[28]
Bus-ticketing
The company owns and operates its bus ticketing business primarily through redBus, an online platform for bus ticketing.[29] The company has partnerships with various major bus operators in India, Peru, Colombia, and select countries in Southeast Asia.[30]
US$593.0 million (2023)[1]
