Startup Originals Team
MakeMyTrip is recognized as India’s leading online travel agency, transforming the way millions of people plan, book, and experience travel. Starting in 2000 with an ambitious vision, it has grown into a multi-billion-dollar enterprise, offering flights, hotels, holidays, buses, trains, and much more to both domestic and international travelers.
Early Days: The Birth of MakeMyTrip (2000-2005)
The journey began with Deep Kalra, an IIM Ahmedabad graduate, who saw the opportunity to use the internet for simplifying complex travel bookings. Initially, MakeMyTrip targeted NRIs (Non-Resident Indians) in the United States who found it challenging to book flights between the US and India. Backed by eVentures and SoftBank Asia Infrastructure Fund, the platform offered convenience, transparent pricing, and reliability, quickly becoming popular among its early users.
However, the beginnings were tough. The infamous dot-com bubble burst just after the company’s launch, slashing its funding. Deep Kalra responded by downsizing but refused to give up. This resilience laid the groundwork for future success.
Expanding Horizons: Entering the Indian Market
Seeing the rapid growth of internet adoption in India, MakeMyTrip pivoted in 2005 to serve domestic customers. It introduced online bookings for flights, hotels, rail, and bus transport, capitalizing on the new wave of low-cost airlines and the rising digital middle class. As online trust grew, MakeMyTrip quickly became the go-to platform for Indian travelers seeking fast, easy, and genuine travel solutions.
Innovation and Diversification (2006–2015)
Bolstered by its early successes, MakeMyTrip didn’t rest. It added features like hotel reservations, holiday packages, and travel insurance. Strategic alliances with airlines, hotel chains, and the Indian Railways (through IRCTC) further broadened its appeal.
The company’s appetite for growth led to several important acquisitions:
- 2010: MakeMyTrip became the first Indian online travel firm to list on NASDAQ, raising $70 million and gaining international visibility.
- 2011–2015: Acquisitions such as Luxury Tours & Travel (Singapore), MyGola, and stakes in HolidayIQ allowed entry into new markets and categories, from travel planning to digital reviews.
MakeMyTrip’s innovation fund nurtured travel-tech startups, marking its support for entrepreneurial growth.
Market Leadership and Consolidation (2016–2019)
The period saw aggressive moves to consolidate the crowded travel space:
- 2016: A landmark merger with the Ibibo Group (which owned Goibibo and redBus) brought in significant scale and diversified services. Naspers and Tencent joined as key stakeholders, strengthening MakeMyTrip’s tech and financial muscle.
- 2019: With the acquisition of Quest2Travel and a major stake bought by China’s Ctrip (Trip.com Group), MakeMyTrip became a truly global travel player.
Weathering Storms: The Pandemic and Tech Transformation (2020–2022)
COVID-19 deeply impacted global travel. MakeMyTrip showed agility by managing costs, adopting strict safety protocols, and pivoting towards domestic tourism during recovery. Their introduction of “myBiz” for corporate travel and “myPartner” for offline agents helped broaden customer reach. The fintech arm, TripMoney, acquired BookMyForex, expanding into travel financial services.
Current Standing and Global Reach
- Valuation: As of August 2025, MakeMyTrip’s market cap stands around $9–$9.1 billion (₹774–787 billion), making it one of India’s highest-valued travel companies. It remains listed on NASDAQ (ticker: MMYT).
- Investments: Strategic investments from giants like Ctrip and Naspers bolstered growth and international expansion.
- Products: Comprehensive offerings now include flights, hotels, buses, trains, holiday packages, forex services, business travel solutions, and digital platforms for travel agents.
- Leadership: Deep Kalra, the visionary founder, remains Group Executive Chairman, steering MakeMyTrip with relentless focus on customer-centricity and innovation.
The Impact and Legacy
MakeMyTrip revolutionized travel in India. By replacing offline agents with a transparent, reliable online marketplace, it has empowered millions to travel conveniently and affordably. Its tech-driven strategy, focus on partnerships, and adaptability during crises (like the dot-com crash and pandemic) ensured the company’s leadership through changing landscapes.
Today, MakeMyTrip is not just a business success story but a symbol of Indian entrepreneurial grit—a story of vision, resilience, and relentless innovation.
