MakeMyTrip

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MakeMyTrip Limited
Company typePublic
Nasdaq: MMYT
IndustryOnline travel
Founded2000; 26 years ago (2000)
FounderDeep Kalra
Headquarters
Gurgaon, Haryana
,
India
Area served
Worldwide
Key people
ProductsBooking flights, hotels, holidays, buses, trains and cars
RevenueIncrease US$783.0 million (FY2024)[1]
Number of employees
5,122 (2025)[2]
Websitewww.makemytrip.com Edit this at Wikidata

MakeMyTrip Limited is an Indian online travel company, headquartered in Gurgaon. Founded in 2000, it operates an online travel-booking platform for travel services such as airline tickets, hotel reservations, holiday packages, and rail and bus tickets.[3] The company also maintains offices outside India, including locations in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, Dubai and Istanbul.[4]

In 2016, MakeMyTrip acquired the Ibibo Group, which owned sites such as Goibibo and Redbus.in.[5]

History

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MakeMyTrip was founded by Deep Kalra in 2000, initially targeting the United States market with a focus on itineraries between the U.S. and India for the Indian diaspora. In September 2005, it began operations in India with online airline ticketing and later expanded into holiday packages and hotel reservations.[6]

MakeMyTrip Limited listed on the Nasdaq on 17 September 2010 following an initial public offering.[7] In 2011, the company acquired Luxury Tours and Travel Pte Ltd (Singapore), ITC Group's travel business, and ETB Group—expanding its presence in Southeast Asia and parts of Europe. In 2012, it introduced RoutePlanner, a tool for searching routes and modes within India.[8][9] In September 2014, it established a US$15 million innovation fund to invest in sector start-ups.[10]

In April 2015, MakeMyTrip acquired MyGola; the deal was made through the innovation fund.[11] In July 2015, MakeMyTrip invested in the travel information and hotel review portal HolidayIQ and picked up approximately 30% stake in the company.[12] In the same month, it invested $5 million in a startup called Bona Vita.[13]

In January 2016, the China-based travel booking company Ctrip agreed to invest $180 million in MakeMyTrip.[14] Later that year, MakeMyTrip and Ibibo Group, India's largest travel booking portals, merged via a stock swap. Naspers became the largest shareholder of MakeMyTrip after the transaction.[15] In 2019, Ctrip increased its stake in MakeMyTrip to 49% by acquiring 42% of the company from Naspers through a stock swap transaction. As a result, Naspers obtained a 5.6% stake in Ctrip worth $1.3 billion.[16]

The company acquired the Mumbai-based corporate travel management company Quest2Travel for an undisclosed amount in 2019.[17] The company launched myPartner in 2020, a platform for travel agents.[18] In May 2021, the company partnered with ⁣Amazon Pay for providing travel services on Amazon.[19] In April 2022, TripMoney, the fintech arm of MakeMyTrip, announced the acquisition of BookMyForex, an online foreign exchange services provider.[20]

In 2023, MakeMyTrip began integrating generative AI features into its platform, such as voice-assisted booking in Indian languages and AI-generated summaries of hotel reviews.[21] In January 2024, the company announced an agreement to acquire the expense-management platform Happay from CRED.[22] In 2025, it released an updated version of its virtual assistant, Myra.[23] Also in 2025, the company mapped more than 2,000 hotels and homestays near over 100 national parks in India.[24]

In 2025, MakeMyTrip repurchased over 34 million Class B shares held by Trip.com Group, reducing the latter's shareholding in the company from 45.34% to 16.90%.[25]

Products and services

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MakeMyTrip provides flight, hotel, bus, and train ticket booking, as well as holiday packages. The company launched mobile applications for booking travel in 2012. As of June 2023,[update] the company had 146 active franchisees.[26]

Following its founding in 2000, MakeMyTrip's initial service was air ticketing for travel to and from India.[27] A significant expansion occurred in 2017 when the company merged with Ibibo Group, the parent company of rival travel site Goibibo.[28]

The company's hotel booking service, operated through MMTand Goibibo, was launched in 2005.[29] As of 2020, it had over 60,000 accommodation properties in India and 5,00,000 outside the country listed on its site.[30]

Its bus ticketing operations are primarily handled through its subsidiary, redBus, an online bus ticketing platform which it acquired from the Ibibo Group.[31] redBus partners with bus operators in India, South America, and Southeast Asia.[32]

References

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  1. ^ "MAKEMYTRIP LIMITED ANNOUNCES FISCAL 2024 FOURTH QUARTER AND FULL YEAR RESULTS" (PDF). investors.mmtcdn.com.
  2. ^ "MakeMyTrip: Number of Employees 2010-2025 | MMYT". www.macrotrends.net. Retrieved 16 August 2025.
  3. ^ Haris, Mohammad (29 March 2023). "MakeMyTrip To Expand Footprint in India, Aims to Grow Franchisees By 50% In 2023". News18. Retrieved 10 August 2023.
  4. ^ "Story of MakeMyTrip, the Revolutionary E-commerce". The CEO Magazine India. Retrieved 10 August 2023.
  5. ^ "MakeMyTrip Limited and ibibo Group to combine". www.naspers.com. Archived from the original on 23 November 2018. Retrieved 28 October 2018.
  6. ^ "MakeMyTrip Success Story - Becoming India's Top Travel Startup". StartupTalky. 18 December 2023. Archived from the original on 17 August 2019. Retrieved 4 May 2024.
  7. ^ "A new journey begins for MakeMyTrip". Rediff. Archived from the original on 15 August 2010. Retrieved 23 October 2018.
  8. ^ NextBigWhat. "MakeMyTrip launches routeplanner – competes directly with iXiGo?". www.nextbigwhat.com. Archived from the original on 17 November 2012.
  9. ^ "MakeMyTrip launches new travel application". BusinessLine. 5 February 2013. Retrieved 10 August 2023.
  10. ^ "MakeMyTrip's early-stage investment fund is an extension to M&A strategy: Magow". VCCircle. 23 September 2014.
  11. ^ Krishnamurthy, Krithika (21 April 2015). "MakeMyTrip acquires travel startup Mygola". The Economic Times.
  12. ^ Chanchani, Madhav (23 June 2015). "MakeMyTrip picks up 28% stake for 95 crore in HolidayIQ to boost hotels & holidays business". The Economic Times. Archived from the original on 28 July 2015. Retrieved 2 January 2019.
  13. ^ Jain, Samiksha (30 July 2015). "MakeMyTrip invests $5M in travel start-up Bona Vita, acquires 67% stake". Entrepreneur. Archived from the original on 10 September 2015. Retrieved 2 January 2019.
  14. ^ Reporter, B. S. (8 January 2016). "Ctrip buys $180-mn stake in MakeMyTrip". Business Standard. Archived from the original on 9 January 2016. Retrieved 2 January 2019.
  15. ^ "MakeMyTrip Limited and ibibo Group to combine". www.naspers.com. Archived from the original on 23 November 2018. Retrieved 28 October 2018.
  16. ^ "China's Ctrip hikes stake in MakeMyTrip fivefold to 49%". The Times of India. 27 April 2019. Retrieved 27 December 2024.
  17. ^ Singh, Rajiv (30 April 2019). "MakeMyTrip Acquires Corporate Travel Firm Quest2Travel". Forbes India. Archived from the original on 1 May 2019. Retrieved 10 August 2023.
  18. ^ "MakeMyTrip opens up its hotel inventory to offline travel agents". Business Insider. Retrieved 10 August 2023.
  19. ^ Abrar, Peerzada (1 November 2021). "MakeMyTrip and Amazon Pay form strategic tie-up to offer travel services". Business Standard India. Retrieved 28 November 2021.
  20. ^ Rudra, Tapanjana (5 April 2022). "MakeMyTrip's Fintech Arm Acquires Majority Stake In Foreign Currency Exchange BookMyForex". Inc42 Media. Retrieved 10 August 2023.
  21. ^ Chaturvedi, Anumeha (8 May 2023). "MakeMyTrip collaborates with Microsoft to introduce voice assisted booking in Indian languages". The Economic Times. ISSN 0013-0389. Retrieved 7 October 2025.
  22. ^ Florentyna, Anne (18 November 2024). "MakeMyTrip To Acquire CRED's Expense Management Platform Happay". Inc42 Media. Retrieved 7 October 2025.
  23. ^ Chawla, Ayushmann (18 August 2025). "MakeMyTrip's Myra AI Review: How effective is the personal travel assistant?". Hindustan Times. Retrieved 7 October 2025.
  24. ^ Dhawan, Bulbul (26 August 2025). "How Homestays Can Help Fix India's 200,000-Room Shortage". Skift. Retrieved 7 October 2025.
  25. ^ "MakeMyTrip completes share repurchase to cut China-based Trip. com's stake". The Economic Times. 4 July 2025. Retrieved 16 August 2025.
  26. ^ Haris, Mohammad (29 March 2023). "MakeMyTrip To Expand Footprint in India, Aims to Grow Franchisees By 50% In 2023". News18. Retrieved 10 August 2023.
  27. ^ "MakeMyTrip, Ibibo merge to create mega online travel co". The Times of India. 19 October 2016. ISSN 0971-8257. Retrieved 10 August 2023.
  28. ^ "MakeMyTrip acquires ibibo Group for nearly Rs 12,000 crore". Zee Business. 18 October 2016. Retrieved 10 August 2023.
  29. ^ Nair, Regina Anthony (14 December 2008). "Online travel firms see spurt in business". mint. Retrieved 10 August 2023.
  30. ^ "MakeMyTrip taps offline agents to bring back business, post-COVID-19". Moneycontrol. 25 August 2020. Retrieved 10 August 2023.
  31. ^ "MakeMyTrip-owned RedBus plans integrated end-to-end online travel solutions". www.business-standard.com.
  32. ^ Sahay, Priyanka (11 July 2016). "redBus acquires majority stake in Peru-based Busportal". mint. Retrieved 10 August 2023.
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