QUOTE AND NEWS
Benzinga  May 15  Comment 
MakeMyTrip Limited (NASDAQ: MMYT) shares fell 5.38 percent to reach a new 52-week low of $18.99. On Thursday, MakeMyTrip reported a Q4 loss of $0.14 per share on revenue of $68.6 million. Keurig Green Mountain Inc (NASDAQ: GMCR) shares touched...
The Hindu Business Line  Apr 22  Comment 
Online travel company MakeMyTrip on Wednesday announced that it has acquired certain assets of Mygola.com and the entire Mygola team has joined MakeMyTrip. "The acquisition was done...
The Hindu Business Line  Apr 16  Comment 
In an effort to promote Kashmir to holidaymakers this summer season, MakeMyTrip has launched a slew of packages. The Valley was hit by floods last year and has seen unseasonal rains this summer se...
Motley Fool  Mar 24  Comment 
Online travel portals in China and India were flying high last week.
The Hindu Business Line  Mar 12  Comment 
Three surveys, conducted by travel websites HolidayIQ, TripAdvisor and MakeMyTrip, reveal that the majority of women travellers believe India is a safe place to travel in. In the results of the fir...
The Economic Times  Mar 5  Comment 
Last month, over 10,000 employees of Yum! Restaurants India kick started the Swachh SwaYum campaign and will be engaged in cleaning around 400 km.
SeekingAlpha  Feb 25  Comment 
The Economic Times  Feb 11  Comment 
Shripati Acharya, managing partner, AngelPrime commented, “Amit Somani is one of the best product minds in India”.




 
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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