Deep Kalra, the founder of MakeMyTrip, recently discussed the early days of the travel company during an event hosted by Nextbigwhat. Kalra shared insights into the challenges, growth, and strategic decisions that shaped the company’s success in the competitive travel industry.
Kalra revealed that when MakeMyTrip was founded in 2000, the online travel industry was virtually non-existent in India. The company faced several challenges in the early days, such as the absence of online payment gateways, limited internet penetration, and a general lack of trust in online transactions. Despite these challenges, MakeMyTrip persevered, leveraging its deep understanding of the Indian travel market and customer needs.
The company focused on providing a user-friendly, reliable, and comprehensive platform for booking flights, hotels, and other travel services. Kalra emphasized the importance of gaining the trust of customers, as many were initially skeptical of using an online platform for travel bookings. MakeMyTrip implemented several measures to build trust, such as offering a price match guarantee, providing a secure payment process, and delivering excellent customer service.
As internet penetration and online transactions grew in India, MakeMyTrip capitalized on the shifting consumer behavior. The company also made strategic decisions such as acquisitions and partnerships to expand its service offerings. One of the most significant milestones for MakeMyTrip was the acquisition of rival travel company, Ibibo Group, in 2016. This acquisition strengthened MakeMyTrip’s market position and allowed it to offer a wider range of travel services.
Kalra also highlighted the importance of constantly innovating and adapting to technological advancements in the travel industry. MakeMyTrip invested in cutting-edge technology and data analytics to enhance the customer experience and personalize offerings. The company also embraced mobile technology, recognizing the increasing trend of mobile bookings in the travel sector.
In addition to discussing MakeMyTrip’s growth, Kalra emphasized the need for perseverance and resilience in the entrepreneurial journey. He shared the challenges and setbacks the company faced, including the dot-com crash and the global financial crisis. Kalra credited the company’s success to the commitment and passion of its team, as well as the support of investors and partners.
Looking ahead, Kalra expressed optimism for the future of the travel industry, despite the impact of the COVID-19 pandemic. He stressed the importance of agility and adaptation in responding to the changing landscape of travel. MakeMyTrip has continued to innovate and diversify its offerings, such as introducing travel insurance and flexible booking options to address customer concerns during the pandemic.
Overall, Deep Kalra’s insights provided valuable lessons in entrepreneurship, resilience, and strategic decision-making. MakeMyTrip’s journey from a small startup to a leading online travel company serves as an inspiring example for aspiring entrepreneurs and businesses looking to thrive in the competitive digital market. The company’s success can be attributed to its focus on customer trust, technological innovation, strategic partnerships, and the ability to adapt to changing market dynamics.