Startup Stories brings to you MakeMyTrip’s success story. Check out Deep Kalra’s biography. Deep Kalra’s success story is inspiring on many levels who has shown nothing but complete devotion and laser sharp focus to achieve his dreams. Watch how Deep Kalra created a brand that became synonyms with traveling.
Early life of Deep Kalra
Deep Kalra is the founder of famous travel website ‘Make my trip’. He has attended St. Stephens College, Delhi. He received Bachelors of Economics degree in the year 1987. He has attended Indian Institute of Management, Ahmedabad for Post graduate program. He was one of the few fresher at IIMA & was really excited about his first job. Instead of going apart from the others he chooses to go along with others & took a bank job in ABN Amro bank. He worked in the bank for three years & quit the job in the year 1995. He gave a safe & well-paying job as a sense of incompleteness has urged him to do something beyond a banking job. He joined AMF Bowling, an American company that was trying to setup bowling lanes and billiard halls for the first time in India. Deep opened around 200 lanes in a small center. The task was an enormous one as no one in India was really ready to invest in a bowling alley in the 90’s. Deep went around from place to place measuring places and setting up bowling alleys but the competition was just too tough. He was having a boss sitting & ordering from America which was neither motivating not mentoring Deep. Deep survived in that job for about four years. It was not in vain to do this crazy job this has taught Deep how to start the business from scratch & have given him some about the efforts & hardship that he might face in the path of establishing his own venture. He would definitely start something post AMF but he was feeling that he lack experience when it comes to corporate & business.
He was looking forward to some more challenging task just like AMF to give him more background for starting his own venture. At this time he got a very lucrative offer from GE capital as a business development head. He joined GE in the year 1999. The company was looking forward to going via the internet. To achieve this goal Deep met almost all the top players in the Indian internet space and helped GE grow via the internet and at the same time, some encounter made Deep believe in the power of the internet. He wanted to sell a car & tried it selling offline to some leaders out of curiosity he tried the internet to sell that car & he sold it for 20k more through the internet. He even booked a hotel for the trip with his wife through internet & he did not face any problem during the vacation.
Inception of Make My Trip (MMT)
With some money saved in his bank, he was moving toward the entrepreneurship which has earlier attracted him & he has left this job. He was surely not satisfied what he was doing & did not want to continue doing that as it was not something he wanted to do for the rest of his life. Being a part of average Indian family Deep was surely aware of the hassle a travel include in India. He was observing that the power of the internet was expanding day by day & things are changing even in one of the most traditional countries like India.
Rise of a protagonist
The biggest miracle that makes my trip has faced when Indian railway launched the online ticket booking system which has led the India to come out of their comfort zone & buy tickets online. Make My Trip launched the rail ticket at the perfect time in September 2005. Moving further on that path they explored the hotel packages along with holiday packages to discover the glory waiting to be theirs. This worked for the ice breaker & company started making big revenues.
As a matter of fact, one out of every twelve flights in India was being booked through MMT. When the whole world was facing tough time in the year 2008 due to recession MMT was happily acquiring more than 200000 customers & making the headlines by hitting the highest profit level of $5 million. By the end of the year 2010, they were listed on NASDAQ.
Overcoming every hurdle
The splendid period for Make My Trip has just started. But every coin has two sides true so even in the case of MMT which was facing the difficulties in maintaining the lead they have gained. Make My Trip has proven itself as the survivor who can win any battle with its great risk taking nature & thinking out of the box. By December 2013 the whooping wealth of $50 million was almost half & revenues were reduced by 5%.
One of the unique features of MMT is to rise & shine even in difficult times & that exactly what they did. They have compensated their losses by recording 3% rise in the revenues very next year. In the year 2014 Make My Trip announced around $15 million funds for supporting the fresh entrepreneur in the travel industry. With more than $900 million caps at NASDAQ, the brand is still growing enormously.
Mergers & acquisitions by Make My Trip
Acquiring small companies based in India & Asia has always been one of the important strategies of MMT. They have a huge list of acquired companies some of the prominent mergers are listed below:
- MMT overtook a Singapore based travel agency in May 2011
- Gurgaon based subsidiary company was bought in August 2011
- A Delhi based budgeted hotel based brand was taken over in November 2011
- A Thailand based ITC company was acquired in November 2012
- Online hotel operator based in Amsterdam was taken over in 2014
- A new travel firm based in Gurgaon was acquired in 2015.
The reason behind the success of Make My Trip
MMT is a child of the smart & advanced brain. The brand has adopted many benchmark strategies that have led it to be what it is today. Understanding the needs of India travelers & providing them with exactly what they want is the key reason behind the triumph & admiration of the brand.
‘wear the customer’s hat’- just like Make My Trip did.
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