The pioneer of online travels in India; Deep Kalra is the proud founder of Gurgaon based – MakeMyTrip.com.
The Million-dollar MakeMyTrip in a nutshell, is an Indian online travel company which provides online travel services like flight tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets, etc.
Speaking of his qualification; Deep holds a Bachelor’s degree in Economics from the St. Stephen’s College, Delhi, after which he went on to pursue his Masters in Business Administration degree from the Indian Institute of Management, Ahmedabad (IIM-A).
Deep’s career started soon after he completed his Masters with IIM-A & went on to work for companies like GE Capital, ABN AMRO Bank, etc!
Now back in 1995, Deep Kalra took a huge risk by quitting his stable & good-paying but boring job at ABN Bank to join AMF Bowling – an American company that was hoping to enter the Indian market to set up bowling alleys and billiard halls.
He put in all that he had and managed to open more than 200 lanes, most of them in small centers. What was even worse was that the venture wasn’t really his own thing, and he had a remote boss back in America who threw him in the market without giving him the appropriate mentorship or guidance.
Evidently, for obvious reasons, this did not appeal to him and he also realized that they were all not worth his talent. He needed something more to showcase the same!
At the same time, he noticed that the Internet industry was growing at the speed of fire and held a lot that could be capitalized on! Having said that, he quit his job & began the old-age brainstorming session! He saw that, with all the brokers, the agents & middlemen in place, the online travel booking industry was messier than a man’s bedroom!
Hence, with a backing of USD 2-Million from eVentures and along with co-founders like – Keyur Joshi, Rajesh Magow and Sachin Bhatia, deep began his newfound journey with MakeMyTrip.com (earlier known as India Ahoy) in 2000.
Now initially, he had also seen that the Indian market was yet to evolve & mature, when it came to the internet industry and playing it safe seemed far more viable than otherwise! Hence, he started off by catering to the overseas Indian community for their US-to-India travel needs.
Anyways just within two years from their launch, their business got jinxed and the dot-com market crashed, taking down everything they had begun to make!
This was a very hard time for them and literally everyone who belonged to the internet market. VC’s weren’t ready to touch the internet industry. Their VC, who once ready to offer any hefty capital they demanded, now wasn’t even ready to give USD 1-million.
The situation was so bad that in order to save the company, Deep had to take some very harsh decisions. They had to reduce their employee strength by a literal half, and what was even worse was that he also had to let go of their & few other top-management employee’s salaries for the next 18-months.
Their business now had begun to pick up & was reaching a decent customer base. That is when IRCTC (Indian Railways Catering and Tourism Corporation) launched their first online business model which enabled the Indian traveler to purchase railway tickets on the Internet.
But the biggest news that came to light was their listing on NASDAQ, in August 2010!
#MakeMytrip @Online_hotel_Booking #Online_Travel
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