easemytrip business model

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Even if it’s with family, friends, or all on your own, exploring new places will give you something to cherish for the rest of your life. He couldn’t get much success in it and soon he left that and joined GE Capital as Vice president-Business Development in 1999. The overall revenue of FY 2019-2020 is $526.8 million. Offering distinctive B2B and B2C model & excellent services, Mr. Pitti has revolutionized the way people travel in India through EaseMyTrip. To handle travellers professionally in destinations, the brand also offers partnerships with tour agents who are local to those destinations. It is probably their customer-friendly approach and effective sales strategies that have earned them a significant market share in the field. call centre, chatbots, and in-app self-service facility. “Trip ideas” is another feature that is developed to facilitate travellers in making decisions related to travelling by guiding them in trip planning, destination discovery, and identification of personal travel interests. Our website services, content, and products are for informational purposes only. The business to customer (B2C) services we’re initiated in 2011, which was primarily intended to satisfy the growing travel needs of the middle-class population. Even when top firms like, The customers are not charged a convenience fee if there is no other discount or a promotion voucher, Their pricing model is created in such a way that it avoids hidden costs which force the customers to pay a larger amount than expected, They have an authentic technology group dedicated to building the best infrastructure and software, The website provides a secure, advanced and customer-centric assistance, A regularly maintained record with details of finances and performances, A hybrid platform that encompasses a vast distribution channel, An experienced management team with high efficiency in their duties, Between 2015 and 2017, the company briefly dealt with the coal industry. The possibilities of anything in this world that could be a trend is infinite. With time, the brand has introduced a lot of diversified online and offline products and services for its customers. It prefers to provide the most competitive and best environment for suppliers to demonstrate its products. In order to provide all-encompassing travel assistance for corporates, Easemytrip came up with a B2E (business to enterprise) distribution channel in 2013. A Business model of any business includes below main elements: MakeMyTrip works on B2C (Business to customer) business model in which they facilitate their customers through booking their tickets online as it only requires a single click of the mouse to avail of a wide range of products and services of the brand. Their services have always maintained a certain quality which played a role in building the brand name. The brand has won many awards in the category of online travel agent and Travel agency spaces for its superior services and contribution to the travel industry. Different investors who have funded MakeMyTrip time to time are key partners of the brand. In a broader sense, a business model is described as a plan of any business or company of how to make a profit for their organization. The airline tickets are sold both separately and as a part of travel plans. It continuously upgrades its systems and processes to increase customer experience. They have also co-produced various movies including the big-budget period epic Manikarnika (1). Otherwise, email us anytime. They have also co-produced various movies including the big-budget period epic, They have been able to improve their connections across a wide range of partners, including hotels, buses, airlines, etc. EaseMyTrip.com is a leading online Travel company in India. It became the biggest merger in the travel industry. thus availing various promotions. One of the strong advantages of the brand over its competitors is that it develops customer services beyond the expectation of customers and creates an ever-lasting experience for its customers. In India, it started operations in 2005 and also, received major first stage funding from SAIF partners i.e. For better customer service and their convenience, the company has introduced three customer service channels i.e. EaseMyTrip had collaborated with Air Deccan who sold tickets for 500 to 700 rupees. MakeMyTrip’s first series funding of $10 million was raised in 2005. Savings. These firms invest in the company from time to time. The brand received $180 million in its IPO which was launched in 2016. These include Tiger fund, Helion Venture Partners, SAIF Partners, Sierra Ventures, Ctrip, etc. Moreover, it has various stores in different cities in India where customers can easily approach for any assistance or service apart from online booking. The company’s business model is uniquely poised to tap the growing Online Travel Market where customers can book flight tickets, hotels, bus tickets and holiday packages at a cost-effective price. The airline had noticed multiple flight bookings from the Pitti brothers’ email id and offered them a partnership. The company has recorded vigorous growth in Quarter 1 of FY2020. MyDesk. Affiliate. EaseMyTrip was founded by a group of brothers in 2008. MakeMyTrip focuses on long term customer relations as their services are more customer-centric. To encourage repeated travelling, it provides on-tour freebies for these repeat travellers. Concluding Remarks 25 E x h i b i t s Exhibit 2.1 Research Framework 2 Exhibit 3.1 Business Model Framework as Proposed by Osterwalder & Pigneur 8 Exhibit 4.1 Jembi’s Business Model 11 Exhibit 4.2 IAGU’s Business Model 13 Exhibit 4.3 IPAR’s Business Model 16 In addition to this, other services provided for packages include visa processing, travel insurance, cruises, etc. To make business travel easier and cheaper, we’re glad to introduce myBiz, a simple yet powerful business travel booking and management platform with several benefits. EaseMyTrip commenced its operations in 2008 by focusing on the B2B2C (business to business to customer) distribution channel and providing travel agents access to its website to book domestic travel airline tickets in order to cater to the offline travel market in India. According to its website, EaseMyTrip has 7.5 million direct consumers, a B2B network of 42,000 travel agents, 1,200 franchise outlets, 1,600 distributors and 640 white label solutions. It generates revenue through rail tickets as it has an association with IRCTC for the same. Initial Phase and the Journey of Further Growth, Management Consulting Vs Strategy Consulting, Asset Management Companies Business Model, Sales Quota: Definition, Types, Importance, Wind Energy: Advantages and Disadvantages, Referral Marketing: Definition & Strategies. Payment services are also extremely smooth as various payment options are available like debit cards, net banking, credit cards, etc. The technology of the brand is another competitive advantage that is being used in their products and services. They worked with many other offline travel agents who funded them with an advance amount. How Abhibus is soaring heights among fierce competition, How ONganic Foods is giving rise to a healthier lifestyle and a better world, 15 Easy & Powerful Home Remedies to Get Rid of Pimples, Uncovering the story: How ZestMoney aims to improve the lives of millions who don’t have proper financing options, ITC’s Growing Appetite for Staples and Butt-Kicking, An Undying Industry: Men’s Grooming is Trending, Redefining Merchant Business with Contactless Payments in the COVID-19 era. There are various such businesses in India, but recently, EaseMyTrip has become a rising brand among them. New Delhi-based Easy Trip Planners' easemytrip.com is enabling traders, who frequently fly for business, to become its agents through franchise retail outlets. About Us. 44.28 crores). The brand raised a total of $548 million in funding in 5 rounds. So far research into business model innovation has remained qualitative and anecdotal. The company's business model is uniquely poised to tap the growing Online Travel Market where customers can book flight tickets, hotels, bus tickets and holiday packages at a cost-effective price. It includes identifying the products or services for sales, the target market or customers, and anticipating expenses or costs. One more competitive advantage is that the brand focuses on creating an experience for both its customers and suppliers. Note: If you buy something via a link on this page, we might earn a small commission on it. In another IPO in 2017, $330 million were raised. A business model, she says, has two parts: “Part one includes all the activities associated with making something: designing it, purchasing raw materials, manufacturing, and so on. The unique features of EaseMyTrip are : The services offered by EaseMyTrip include all parts of a journey such as flights, hotels, etc. Nidhia Sebastian is an English literature graduate who looks forward to a career that complements her passion. The Background. Another key resource of the company is its proprietary technology, which has the capability of a good search engine. The city-based company said the object of the public issue is to achieve the benefits of listing the equity shares on stock exchanges Beware of the Financial Frauds While Going Digital, KUMU: the app that’s now ringing with TikTok to battle, TIME’s Kid of The Year, Gitanjali Rao – A Brilliant Mind and Generous Spirit. Delhi-based online travel portal, EaseMyTrip, which has claimed to book close to 8-9 lakh air passengers per month, is looking to step up its hotel reservation and travel packages business. E-transaction service facilitates customers to get the refund of money by automatic transfer of the amount back to the same account. and also, most of the banks are on board. It is not clear to what extent the consulting sector in general scores on the various elements in the business model mixer. It provides seamless integration of chat and voice channels with analytical tools and dashboards. Presently, 90% of EaseMyTrip’s income comes from the official website. According to the FIS PACE PULSE Survey 2020, there has been a massive surge in mobile wallet users in India. Through MakeMyTrip, users can also access other travel-related services provided by third-party vendors like visa processing and travel insurance. MakeMyTrip provides one-stop-shop facility to its customers as the brand not only offers service in India but also extends its facilities for any international tour from India as well. Over the years, startups have been the epitome of discussions... FAU-G vs. PUBG is the Indian most significant sentiment now. The company constantly improves its customer support services by adopting advanced and latest technology. The Air ticketing segment of MakeMyTrip generates revenue through the sale of domestic and international air tickets to customers on an internet-based platform. All in all, a business model of an organization defines its way of making money. Otherwise, email us anytime. If you can get rid of all that, touring would become a heavenly adventure, wouldn’t it? Apart from above, MakeMyTrip also offers a lot of value-added services like attractive discounts and offers on different bookings. 5.2 Business model statements as a tool to improve performance 23 6. General Management: nitesh@easemytrip.com, +91 9873057330. Hotel rooms are also sold individually or as a part of packages. In 2018, they collaborated with IRCTC for train tickets. They bought coal worth 2.2 million USD to be resold. thus availing various promotions. Having an open heart to knowledge is what leaves her with a thirst to explore the world. He had started the professional journey of his career in ABN AMRO bank and worked for 3 years. The core value proposition of MakeMyTrip is the best deals that it provides to its customers at their convenience. BookMyShow - How does India's largest ticketing portal thrive? To widen its revenue generation segments, the brand has also introduced weekend travels, other activities, and events. Hotels and holiday packages segment which is a non-flight business; is of higher-margin category as compare to airline ticketing, and by contributing 54 percent of total revenue; this segment is the highest revenue contributor of the brand. Free modifications, free on-board meals, best rate guarantee for a wide range of hotels and GST Invoice Guarantee. The major top 10 competitors of the brand include Yatra, Cleartrip, Booking.com, OYO, Travelguru, Cox & Kings, EaseMyTrip, Thomas Cook, Vista Rooms, and Expedia. These websites include MakeMyTrip.com, easytobook.com, hoteltravel.com, etc. The company has also started an intra-city cab facility in selected locations. We offer and exclusive deals on International and Domestic Flight Booking, Holiday Packages to wor… 60 percent share. Read more about EaseMyTrip files Rs 510-cr IPO papers with Sebi, promoters to sell stake on Business Standard. Thus, the brand is continuously offering the best services to its customers. Hotel and holiday package segment contributes to revenue by providing hotel reservations and holiday packages by using the internet-based platform. Also, losses of the company are reduced by 50 percent in the third quarter of FY2020 in comparison with the third quarter of FY2019. It offers effective, reliable services to its customers and also, incorporates the latest and advanced technology in its business. FAU-G vs. PUBG: Who’ll reach the Indian Gamer first? The business platform allows them to book their air tickets and earn commissions as well. The idea was formed in the minds of brothers, Travel companies in India often face a run for their money due to the intense competition in this area. One such story of ‘Bootstrapped yet profitable’ business is that of travel eCommerce firm ‘EaseMyTrip’, which went from bootstrapping to Rs 1400 crore in annual turnover in 8 years. Before we delve into the different types of revenue models, we should spend a little time differentiating between the terms \"business model\", \"revenue model\", and \"revenue stream\", as they are very often used interchangeably. Their strategy is a B2B2C (business to business to customer) channel and therefore gives direct access for the agents.Â. It launched makemytrip.ae for Emirates markets. They are summarized below: 1. Feel free to reach us at [email protected] for any change or copyright issues. This model describes the transactions between a retailer or a wholesaler, or a wholesaler and manufacturer. The range is quite long... You have entered an incorrect email address! Mr. Rikant Pitti is the COO , Co-founder , and Whole-Time Director of EaseMyTrip is among the youngest entrepreneurs of India who has all the qualities of a … Corporate customers are also part of their corporate travel segment, especially SMEs (Small and medium enterprises). MakeMyTrip has differentiated itself from its competitors through its competitive advantage and unique value system for customers. EaseMyTrip partnered with FoodForTravel in September 2019. Business Developement : Aneesh@easemytrip.net, +971553322175. Different channels of MakeMyTrip are its websites, through which travellers can search, book, plan, and buy lots of travel-related products and services. Enter Agency Name * Please enter agency name. MakeMyTrip is an Indian online travel company founded in 2000. The number of websites also is growing, jumping from 255 million in December 2010 to 582 million a year later. They were helped with investments from friends and family, and the significant boost came when an airline company contacted them. In the GlowingStart article, \"What Is The Difference Between A Revenue Model, Revenue Stream And A Business Model\", Alex Genadinik does a great job explaining the difference between those terms. EaseMyTrip partnered with FoodForTravel in September 2019. The possibilities of anything in this world that could be a trend is infinite. Domestic holiday tour packages were launched in 2008 for hotel searches and Indian travellers. On average we provide quotes within 6 hours during business hours and the next day during off business hours. The capability of a good search engine all you need to know about this.... Firms invest in the article is subject to change according to the fullest and hopes to convey the enthusiasm! Compared to offering low-cost products and services in revenue generation offers a lot of diversified online and offline and. Also has offices in different international locations like Singapore, Phuket, Bangkok, new Times! Irctc for train tickets specific requirements of its competitors in the travel industry with Deccan. A leadership position in the year 2000 by a Delhi based entrepreneur Deep who... Transport company of MakeMyTrip includes customers of the brand is another competitive advantage of the industry! Brothers were able to take loan approval for buying their desired tour-package years, startups have been epitome. 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Is probably their customer-friendly approach and effective sales strategies that have earned them a considerable discount professional journey his! ’ strategy which a company can sustain itself and generate profitable revenue.! Care of the B2B business model Mixer is grounded in in-depth research a!

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