Deep Kalra, founder of the online travel agency MakeMyTrip, shared insights into the company’s journey and its strategy for staying ahead of technological trends, from its inception during the dot-com era to the current boom in artificial intelligence. Kalra’s approach has been defined by adaptability, a focus on customer needs, and a willingness to embrace disruptive technologies.
The company was founded in 2000, at the peak of the dot-com bubble. When the bubble burst in 2001, MakeMyTrip survived by focusing on a niche market: US-based non-resident Indians (NRIs) booking travel to India. At the time, the Indian domestic market was not yet viable for online travel due to low internet penetration and a lack of digital payment infrastructure.
### Pivoting to the Indian Market
A significant turning point for MakeMyTrip came with the launch of low-cost carriers in India around 2005-2006. This development, coupled with the success of IRCTC’s online railway ticketing platform, signaled that the Indian consumer was ready for online travel services. In response, MakeMyTrip pivoted its focus to the domestic Indian market, a move that proved crucial for its subsequent growth and eventual listing on the NASDAQ.
Kalra also highlighted the company’s early and aggressive adoption of mobile technology. He recalled a “seminal moment” when he observed his team primarily using their phones, leading to the realization that mobile was the future. This insight led to a “mobile-first” and, for a time, a “mobile-only” strategy. While the company later corrected this to a more balanced “mobile-first” approach, the early focus paid off, with over 80% of the company’s bookings now coming through mobile devices.
### Embracing the AI Revolution
Looking forward, Kalra identified Generative AI as the third major technological disruption for the industry, following the internet and mobile revolutions. He believes AI will fundamentally enhance the customer experience by offering unprecedented levels of personalization and efficiency. MakeMyTrip is actively integrating AI to help travelers plan trips, create personalized itineraries, and improve customer service.
Kalra explained that AI can handle a vast number of queries through voice and chat interfaces, freeing up human agents to manage more complex and nuanced customer issues. The goal is to use technology to streamline operations and improve service, ensuring the company remains a leader in the evolving travel landscape. Throughout his journey, Kalra’s core philosophy has been to foster a culture of innovation and to not be afraid of cannibalizing existing business models to adapt to new trends.
Key Points
* MakeMyTrip was founded in the year 2000.
* The company survived the dot-com bubble burst of 2001 by initially focusing on the US-to-India travel market.
* The launch of low-cost carriers in India around 2005-2006 was a key factor in the company’s pivot to the domestic market.
* Over 80% of MakeMyTrip’s bookings are now made through mobile devices.
* Founder Deep Kalra views Generative AI as the third major technological disruption for the travel industry, after the internet and mobile.
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