DEEP KALRA : The best trip maker of India

 

 

“There is an entrepreneur in everyone , most people would like to work for themselves given a situation where you can earn a same amount of money !!”-

-DEEP KALRA (C.E.O. MakeMyTrip)

The minute you start thinking you are cool and something big, that’s the end. If these quotes have not motivated you to start your company and reach for the stars like Deep Kalra did, then his quote about passion will definitely do the job.

“Passion for winning goes beyond merely chasing targets and achieving them. it’s the zest and zeal with which one goes about the achievement. it’s not only about winning, it’s about dominating!”.

 

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 setup bowling alleys and billiard halls.

 

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 new found journey with MakeMyTrip.com (earlier known as India Ahoy) in 2000.

 

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.

 

Taking some thoughtful, stern yet intelligent decisions, MakeMyTrip turned out to be one of those few who managed to survive the tsunami. And as time passed, the situation got better and their decision turned out to be fruitful as well.

 

And in a matter of no time, the company started making awesome revenues. The demand was so much that 1-out-of-every-12 domestic flights in India were booked through MakeMyTrip.

Within a year, the company had acquired 200,000 happy customers. As a matter of fact, when the world was in recession in 2008, the company was crossing their Rs1000-Cr mark.

The same year the company also recorded profits worth $5-million with gross revenues being approx $500-million.

From here onwards, the company brought about a lot of additions to its existing profile; be it launching a multi-city flight booking service “Alootechie.com,” adding chauffeur-driven online cab rental services or creating several travel-related Apps for all types of mobile devices, they made sure to leave no table unturned.

 

If that wasn’t enough then in march 2014, MakeMyTrip announced a $15 million innovation fund for new entrepreneurs in the travel circuit. And when we looked at the recent stats of the NASDAQ listed company; with a current market cap of $934-Million they seem to be growing drastically too.

And lastly; apart from initial investment of 2-million, MakeMyTrip has raised USD 10-million in 2005, USD 13-million in 2006 & USD 15-million in 2007 from investors such as SAIF (Softbank Asia Infrastructure Fund) Partners, Helion Venture Partners, Sierra Ventures & Tiger Global, till date!

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