Benzinga  Oct 5  Comment 
Spark Therapeutics Inc (NASDAQ: ONCE) shares climbed 30.70 percent to $57.42. The volume of Spark Therapeutics shares traded was 2008 percent higher than normal. Spark Therapeutics reported positive top-line results from the pivotal Phase 3 trial...
The Hindu Business Line  Sep 26  Comment 
If you have to book an Ola cab, you no longer need to have the Ola app.The cab aggregator has opened up its Application Programming Interface (API) to other apps such as Makemytrip, InMobi,...
The Hindu Business Line  Sep 21  Comment 
Online travel aggregator MakeMyTrip, which started operations in India 10 years ago as a platform to book flights, is now banking on hotels and packages to drive its growth. “The hotel ma...
The Times of India  Aug 11  Comment 
Flipkart’s early investor Accel Partners and MakeMyTrip founder Deep Kalra, among others, have made a series A round of investment in financial technology startup Scripbox.
The Economic Times  Jul 9  Comment 
MakeMyTrip, RBL Bank, Inox wind and IRCTC are among the firms that have made it to the Fortune Next 500 list of Indian companies.
The Hindu Business Line  Jun 30  Comment 
In its series of digital initiatives and tie-ups, State Bank of India, country’s largest bank, partnered with online travel company MakeMyTrip.com to capitalise on the business opportuniti...
TechCrunch  Jun 25  Comment 
 Inspirock wants to take the hassle out of travel planning with a site that automatically creates customized itineraries. The startup announced today that it has raised $3 million in seed funding from returning investor MakeMyTrip, one of...


MakeMyTrip Limited (NASDAQ:MMYT) is an Indian online travel company. The company operates of the website MakeMyTrip.com and allows customers to book airline, bus, rail, and other travel tickets. In addition, the company allows users to book hotel rooms and other aspects of travel plans.[1] They make money by charging companies lead generation fees, charging customers transaction fees, and by receiving incentive payments from airlines from favorable product placement.[2]

While the concept of the website is not revolutionary, Deep Kalra, the founder has focused on solving Indian specific problems. The company did copy many aspects of existing sites, but managed to provide a tailored service to the needs of Indian travelers.[3] MakeMyTrip expects the growing Indian middle class will continue to expand its market. According to McKinsey, a management consulting firm, the Indian middle class is anticipated to grow ten times, from 50M to 583M between 2005 and 2025.[1]

The company's initial public offering of stock filed on the NASDAQ and went public on 12 August 2010. It priced at $14, which is at the top end of its initial price range of $12-$14. They did raise $70M by selling 5M shares. The lead underwriter of the deal was Morgan Stanley (MS)[4] The company recorded a first day rise in price of 89%. This is the largest recorded rise since Athenahealth, Inc. (ATHN) went public in September 2007 with a 97% jump.[5]

While MakeMyTrip has continued to experience a [[net loss], they have been able to substantially increase revenues over the past three years. The company announced FY 2010 revenue of $32M a 68% increase from the $19M announced in 2009. Net loss also fell from -$7.3M in 2009 to -$6.2M in 2010.[6] The company has accumulated a total debt of approximately $42.5M and expects to use part of the proceeds from their IPO to pay down this debt.[7]


  1. 1.0 1.1 MMYT F-1 2010 "Prospectus Summary" pg.1
  2. MMYT F-1 2010 "Our Business" pg.2
  3. TechCrunch "What Indian Entrepreneurs should learn from MakeMyTrip's rocket IPO
  4. Renaissance Capital "MakeMyTrip Limited prices IPO at $14.00, at high end of the range" 12 August 2010
  5. Renaissance Capital - IPO "Positive week for IPO market sees impressive first day gains uptick in filing activity" 12 August 2010
  7. MMYT F-1 2010 "CAPITALIZATION" pg.31
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