QUOTE AND NEWS
The Hindu Business Line  Aug 10  Comment 
Opens a 40,000-sq ft Technology Centre in Bengaluru
The Hindu Business Line  Aug 10  Comment 
The firm, which has been making losses, hopes to make profits in 18 months
The Hindu Business Line  Aug 3  Comment 
Aims to become one-stop shop for all travel needs
The Economic Times  Jul 27  Comment 
Around 91% of MakeMyTrip's hotel transaction volume comes from India, with mobile accounting for nearly 73% of India transactions.
newratings.com  Jul 27  Comment 
NEW DELHI (dpa-AFX) - India-based online travel company MakeMyTrip Ltd. (MMTY) reported a loss for the first quarter of fiscal 2017 that widened from last year as strong revenue growth was more than offset by higher expenses. Adjusted loss per...
SeekingAlpha  Jul 27  Comment 
Benzinga  Jul 5  Comment 
With data showing that a long-rumored slowdown in private funding for Indian e-commerce is actually happening, there’s been a shift in focus from growth to profitability in most e-tailers. In a note to investors Tuesday, Jefferies analysts laid...
The Hindu Business Line  May 26  Comment 
The NRI market was a godsend at a time when Indians were not yet ready to book online
The Economic Times  May 20  Comment 
The spending underlines an increasingly expensive battle for domination of the hotel booking space being fought between Ibibo Group and OYO.




 
TOP CONTRIBUTORS

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]


References

  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
  6. MMYT F-1 2010 "SUMMARY CONSOLIDATED FINANCIAL AND OTHER DATA" pg.7
  7. MMYT F-1 2010 "CAPITALIZATION" pg.31
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