EaseMyTrip

Last updated

EaseMyTrip
Company type Public
ISIN INE07O001018
Industry Online travel agency
Founded2008;17 years ago (2008)
Founders
Headquarters
New Delhi
,
India
Area served
Worldwide
Services
RevenueIncrease2.svg₹590 crore (US$68 million) (FY24) [1]
Increase2.svg₹228 crore (US$26 million) (FY24) [1]
Increase2.svg₹157 crore (US$18 million) (FY24) [1]
Subsidiaries Spree Hotels and Real Estate Pvt Ltd
Website www.easemytrip.com

EaseMyTrip is an Indian multinational online travel company, headquartered in New Delhi, India. It was founded in 2008 by Nishant Pitti, Rikant Pitti, and Prashant Pitti. The company provides hotel bookings, air tickets, domestic and international holiday packages, bus bookings, and white-label services. EaseMyTrip has overseas offices in Singapore, UAE and Thailand [2] with country-specific websites for UAE, UK and Thailand.

Contents

History

Homescreen of the EaseMyTrip mobile app EaseMyTrip Homescreen Screenshot.jpeg
Homescreen of the EaseMyTrip mobile app

The idea for EaseMyTrip came when the brothers, Nishant Pitti and Rikant Pitti used to book air tickets for their father's frequent business trips, and saved money in the booking process. Initially based out of their home garage as a travel agency, the duo lost all of the initial investment within the first three months. [3] Later on, references from family and friends helped and a major turnaround came when an airline noticed multiple bookings coming from a single email account and contacted the Pitti brothers to become its travel partner. [4]

In 2019, EaseMyTrip had a network of more than 42,000 travel agents, 1,200 franchise outlets, 640 white-label solutions, and around 1,600 distributors. [2]

In 2019, EaseMyTrip expanded its operations to international markets such as UAE, UK, US, Philippines, Singapore, and Thailand. [5] [6] [7]

In March 2021, EaseMyTrip went public with an initial public offering. [8] [9] [10]

In June 2021, EaseMyTrip collaborated with Oyo Rooms, Airbnb, and Yatra to form the Confederation of Hospitality, Technology and Tourism Industry (CHATT), an industry body for the tourism sector of India. [11]

In September 2021, it became a unicorn after its market capitalisation crossed $1 billion. [12] In December 2021, the organisation hired Vijay Raaz and Varun Sharma as their brand ambassadors. [13]

EaseMyTrip acquired Spree Hospitality, a hospital management company established in 2011 by Keshab Baljee, for an undisclosed amount. [14] [15] The company announced the acquisition of travel marketplace Traviate in October 2021. [16] EaseMyTrip acquired YoloBus, an intercity mobility platform, in 2021. [17]

In August 2024, the platform signed on Jacqueline Fernandez as a brand ambassador. [18] [19]

On 17th September 2024, it announced its move into the medical tourism sector with the acquisition of a 49 per cent equity stake in Pflege Home Healthcare for ₹30 crore, and a 30 per cent stake in Rollins International for ₹60 crore. [20] [21]

In November 2024, EaseMyTrip acquired a 49% stake in Planet Education Australia. This move will expand its presence in international study tourism. [22]

Services

In January 2020, EaseMyTrip announced it will allow users to book flight tickets via WhatsApp. Users can activate the autonomous interactive program by sending a message and the booking bot will guide users through the end-to-end process. [23]

In 2021, the company launched another feature where if a person can show a waiting ticket in a train, they would get a discount from Easemytrip on flights. [24]

In order to provide travel services on the Open Network for Digital Commerce (ONDC), EaseMyTrip has announced the launch of ScanMyTrip on 12 September 2024. By allowing them to offer their services—flights, hotels, and homestays—on the ONDC, ScanMyTrip seeks to empower MSMEs, homestays, and OTAs (Online Travel Agencies). [25]

IPO

In 2019, it filed for a ₹510 crore ($72.13 million) initial public offering (IPO) with the Securities and Exchange Board of India (SEBI), [26] [27] making them the first online travel agency to be listed on the Indian stock exchanges. [28] The issue was managed by Axis Bank and JM Financial. [29] It opened for subscription on 8 March 2021 and was listed on the stock market on 19 March 2021. [8] The IPO was subscribed over 159 times. [30]

HSBC Global Investment Funds, Tata Trustee Company, Aditya Birla Sunlife Insurance Company, Nomura, Sundaram Mutual Fund, Nippon Life India Trustee Company, and Bajaj Allianz Life Insurance Company were its anchor investors. [31] [32]

Philanthropy

In 2018, the employees of the company contributed a day's salary for the relief measures of Kerala floods. [33]

During the second wave of the COVID-19 oxygen crisis in India, the company donated 550 oxygen concentrators [34] and launched a refund policy that promised full refund for ticket cancellations, including the costs deducted by the airlines. [35]

Controversies

On March 8, 2022,[ when? ] a consumer technology firm from Pune called udChalo filed a trademark infringement case against EaseMyTrip. [36] Previously, MakeMyTrip also moved to Delhi High Court against the company and Google both for Trademark violation. [37]

Collaborations

Recognition

Related Research Articles

<span class="mw-page-title-main">Indian Railway Catering and Tourism Corporation</span> Indian online ticketing, catering and tourism company

Indian Railway Catering and Tourism Corporation (IRCTC) is an Indian public sector undertaking that provides ticketing, catering, and tourism services for the state-owned Indian Railways. It was established in 1999 by the Government of India and operated under the administrative control of the Ministry of Railways. In 2019, it was listed on the National Stock Exchange and Bombay Stock Exchange with the Government holding a 67% ownership. As of December 2023, there are 66 million registered users with IRCTC with a daily average of 7.31 lakh tickets booked.

<span class="mw-page-title-main">Go First</span> Defunct low–cost airline of India (2005–2023)

Go First, founded as GoAir, was an Indian low-cost airline based in Mumbai, Maharashtra. It was owned by the Indian business conglomerate the Wadia Group. It commenced operations on 4 November 2005 and operated a fleet of Airbus A320 aircraft in an all economy configuration.

Trip.com Group Limited is a global online travel service provider committed to creating seamless travel experiences for customers worldwide. With operations in 39 countries and regions, the company offers services in 30 languages, supporting over 1.7 million hotels, 600 airlines, and 560,000 attractions globally. The company’s mission, 'To pursue the perfect trip for a better world,' emphasizes innovation, sustainability, and partnerships to reshape the travel industry. The company maintains a global customer service team with offices located in Edinburgh, Tokyo, Seoul, and other locations. It is one of the largest travel service providers in the world.

Snapdeal is an Indian e-commerce company, based in New Delhi, India. It was founded in February 2010 by Kunal Bahl and Rohit Bansal.

ixigo Indian online travel company

ixigo is an Indian online travel portal headquartered in Gurgaon. Launched in 2007, ixigo aggregates real-time travel information, prices and availability for flights, trains, buses, and hotels, and allows ticket booking through its associate websites and apps.

<span class="mw-page-title-main">Yatra (company)</span> Online travel agency

Yatra is an Indian online travel agency and travel search engine. It was founded by Dhruv Shringi, Manish Amin and Sabina Chopra in August 2006.

<span class="mw-page-title-main">MakeMyTrip</span> Indian online travel company

MakeMyTrip Limited is an Indian online travel company, headquartered in Gurgaon. Founded in 2000, the company provides online travel services including airline tickets, domestic and international holiday packages, hotel reservations, rail and bus tickets. MakeMyTrip also has international offices located in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, Dubai, and Istanbul.

eDreams ODIGEO is a Spanish online travel company that was formed in 2011 as the successor of eDreams with the merger of online travel agencies eDreams and GO Voyages, and the acquisition of Opodo.

Trip.com is an international one-stop travel service provider, available in 24 languages across 39 countries and regions in 35 local currencies.

<span class="mw-page-title-main">Ola Consumer</span> Indian ridesharing company

Ola Consumer, formerly Ola Cabs, is an Indian transportation company that provides ride-hailing services and operates other business verticals such as financial services and cloud kitchens. It is headquartered in Bangalore, and operates in 250+ Indian cities.

redBus Online bus ticketing company

redBus is an online bus ticket booking company that provides bus ticket booking through its website and iOS and Android mobile apps. redBus India is headquartered in Bangalore and works like a hub, acting as a medium for a network of more than 3500 bus operators, across the countries of India, Malaysia, Indonesia, Singapore, Peru, and Colombia. It claims to have registered over 180 million trips, with a customer base of over 20 million. In 2018, the company achieved a GMV of ₹50 billion, with a 70% share in the Indian online bus ticketing segment.

<span class="mw-page-title-main">Paytm</span> Indian financial technology company

Paytm is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida, India. Paytm was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. The company offers mobile payment services to consumers and enables merchants to receive payments through QR code payment, Soundbox, Android-based-payment terminal, and online payment gateway. In partnership with financial institutions, Paytm also offers financial services such as microcredit and buy now, pay later to its consumers and merchants.

OYO Rooms, also known as OYO Hotels & Homes, is an Indian multinational hospitality chain of leased and franchised hotels, homes, and living spaces. Founded in 2012 by Ritesh Agarwal, OYO initially consisted mainly of budget hotels. As of January 2020, it has more than 43,000 properties and 1 million rooms across 800 cities in 80 countries.

Cleartrip is a global online travel agency, headquartered in Mumbai.

PT Trinusa Travelindo, operating as Traveloka is an Indonesian technology company focused on travel and ticketing. Operating a services website and mobile application of the same name and based out of Jakarta, Indonesia, Traveloka is active in six countries, and in 2022 remained the largest online travel app in Southeast Asia. Founded in 2012 as a travel search engine, it now also offers services such as cruises, attraction tickets, activities, transportation rentals, and restaurant vouchers. It also provides financial services such as credit and insurance. Classified as a unicorn company and regarded as functionally similar to Expedia, in 2022 it was valued approximately at US$3 billion.

<span class="mw-page-title-main">Ritesh Agarwal</span> Indian billionaire

Ritesh Agarwal is an Indian billionaire entrepreneur and the founder and CEO of OYO Rooms, a hospitality chain. He has been a panellist on Shark Tank India in 2024. Agarwal listed among Top 10 youngest Indian billionaires in Hurun Rich List of India 2024, with a net worth of $225 million.

K Raheja Corp is a property developer in India with interests in commercial and residential projects, malls and hospitality across multiple cities in the country. It owns the brands Mindspace, Commerzone, Crossword Bookstores and Shoppers Stop, and is the second largest commercial developer in India. Under the Mindspace banner, K Raheja Corp also operates Mindspace Office Parks, which is a real estate investment trust (REIT).

<span class="mw-page-title-main">Manipal Hospitals</span> Indian hospital chain

Manipal Health Enterprises, commonly known as Manipal Hospitals, is an Indian for-profit private hospital network headquartered in Bangalore, Karnataka. The hospitals trace their origins to the Kasturba Medical College, founded by T. M. A. Pai in 1953. Manipal Hospitals is the second largest healthcare provider in India, with a network of 33 hospitals. Manipal Hospitals is part of the Manipal Education and Medical Group.

InterMiles was the airline's frequent-flyer program of Jet Airways that ceased operations in April 2019, in which 50.1% stake is held by Etihad Airways, part of the Etihad Aviation Group. InterMiles is an independent, loyalty and rewards company formed in 2014. The program has about 10 million members.

Etraveli Group AB is group of online travel agency websites servicing both the business-to-business and retail travel markets, primarily in Europe and primarily serving to Booking.com. It operates subsidiaries GoToGate, MyTrip and Seat24. The group is based in Sweden and its largest market is in Europe. Etraveli Group operates in more than 50 markets, including the Nordics, the United Kingdom, France and Germany. Etraveli Group brands include TripStack, Flygresor.se, Gotogate, Flightnetwork, and Mytrip.

References

  1. 1 2 3 "Q4 and FY2024 Investor Presentation" (PDF). BSE. Easy Trip Planners Ltd. Retrieved 7 June 2024.
  2. 1 2 "EaseMyTrip looks to raise up to Rs 750cr via IPO; books Axis Capital, JM Financial as bankers". Moneycontrol. Retrieved 3 June 2019.
  3. ↑ Modi, Ajay (12 January 2017). "Aggressive EaseMyTrip flies into top league". Business Standard India. Retrieved 3 June 2019.
  4. ↑ "EaseMyTrip faces cash flow issues as forward bookings drop, refunds continue". cnbctv18.com. Retrieved 9 October 2020.
  5. ↑ "EaseMyTrip's Q2 profit jumps by 330% YOY; air segment, hotel bookings rise". Business Today. Retrieved 25 November 2021.
  6. ↑ Kundu, Rhik (2 November 2021). "EaseMyTrip net profit surges over 300% to ₹27.13 crore". mint. Retrieved 25 November 2021.
  7. ↑ Chaturvedi, Anumeha. "EaseMyTrip expands international presence to Philippines, Thailand, and the USA". The Economic Times. Retrieved 25 November 2021.
  8. 1 2 "EaseMyTrip IPO is set to open on Monday — price band for the issue set at ₹186 to ₹187 per share". Business Insider. Retrieved 3 March 2021.
  9. ↑ Chengappa, Sangeetha. "EaseMyTrip clocks 47% CAGR from FY 2018-20". @businessline. Retrieved 15 September 2021.
  10. ↑ Kundu, Rhik (15 June 2021). "EaseMyTrip reports eight-fold increase in Q4 profit". mint. Retrieved 15 September 2021.
  11. ↑ "Oyo, Airbnb, EaseMyTrip, Yatra join hands; form industry body for tourism sector". Business Today. Retrieved 15 September 2021.
  12. ↑ Chakraborty, Chiranjivi. "Travel portal Ease My Trip joins India's burgeoning unicorn list. Is it a good time to lap up the stock?". The Economic Times. Retrieved 25 September 2021.
  13. ↑ Livemint (29 December 2021). "EaseMyTrip appoints Vijay Raaz and Varun Sharma as brand ambassadors". mint. Retrieved 14 July 2022.
  14. ↑ Chaturvedi, Anumeha. "EaseMyTrip acquires Spree Hospitality, a 1200 keys hospitality management company". The Economic Times. Retrieved 25 November 2021.
  15. ↑ Chaturvedi, Anumeha. "EaseMyTrip acquires Spree Hospitality, a 1200 keys hospitality management company". The Economic Times. Retrieved 13 December 2021.
  16. ↑ "EaseMyTrip to buy travel marketplace Traviate in first ever acquisition". The Economic Times. Retrieved 25 November 2021.
  17. ↑ Chaturvedi, Anumeha. "EaseMyTrip acquires the YoloBus brand to expand its non-air business". The Economic Times. Retrieved 14 July 2022.
  18. ↑ "EaseMyTrip.com appoints Bollywood actress Jacqueline Fernandez as brand ambassador". BusinessStandard. Retrieved 24 August 2022.
  19. ↑ "Jacqueline Fernandez joins EaseMyTrip as brand ambassador". BrandEquity.com. Retrieved 24 August 2022.
  20. ↑ Manchanada, Kunal (17 September 2024). "EaseMyTrip invests Rs 90 Cr in two overseas firms; enters medical tourism space". Entrackr. Retrieved 17 September 2024.
  21. ↑ "EaseMyTrip enters medical tourism; board approves Rs 90 crore acquisitions".
  22. ↑ "EaseMyTrip to acquire Planet Education Australia, foray into study tourism". The Economic Times. Retrieved 15 November 2024.
  23. ↑ Naik, Amit Raja (23 January 2020). "EaseMyTrip To Allow Users To Book Flight Tickets On WhatsApp". Inc42 Media. Archived from the original on 1 October 2020. Retrieved 23 September 2020.
  24. ↑ Market, Capital (29 September 2021). "EaseMyTrip launches industry-first option for waitlisted train bookings". Business Standard India. Retrieved 23 July 2022.
  25. ↑ Singh, Rimjhim (12 September 2024). "EaseMyTrip launches ScanMyTrip, a first-of-its-kind travel platform on ONDC". Business Standard. Retrieved 13 September 2024.
  26. ↑ "EaseMyTrip files papers for Rs 510 crore IPO". The Economic Times. 15 December 2019. Retrieved 23 December 2019.
  27. ↑ "EaseMyTrip Files Draft Papers For IPO, Looks To Raise $72 Mn". Inc42 Media. 15 December 2019. Retrieved 23 December 2019.
  28. ↑ www.ETtech.com. "EaseMyTrip plans to raise Rs 700 crore from public issue – ETtech". The Economic Times. Retrieved 11 December 2019.
  29. ↑ "EaseMyTrip's IPO Plans May Go Live Soon To Raise INR 700 Cr". Inc42 Media. 11 December 2019. Retrieved 11 December 2019.
  30. ↑ "Easy Trip Planners IPO subscribed over 159 times on last day". The Economic Times. Retrieved 16 March 2021.
  31. ↑ "Easy Trip Planners IPO opens for subscription: Check issue price, GMP, other details; should you subscribe?". www.businesstoday.in. Retrieved 9 March 2021.
  32. ↑ www.ETTravelWorld.com. "Even as booking revenue drops by half, EaseMyTrip reports 86% growth in profits - ET TravelWorld". ETTravelWorld.com. Retrieved 15 September 2021.
  33. ↑ News Desk (21 August 2018). "EaseMyTrip employees donate their one day salary for Kerala relief fund". HW English. Retrieved 15 September 2021.
  34. ↑ www.ETTravelWorld.com. "EaseMyTrip donates 550 imported oxygen concentrators - ET TravelWorld". ETTravelWorld.com. Retrieved 15 September 2021.
  35. ↑ "Get full refund on domestic air ticket cancellations! EaseMyTrip offers free full-refund medical policy". The Financial Express. 19 July 2021. Retrieved 15 September 2021.
  36. ↑ "UdChalo files infringement case against EasyMyTrip and other online travel agents in Delhi HC - ET BrandEquity".
  37. ↑ "MakeMyTrip files suit against EaseMyTrip over trademark violation". 22 March 2019.
  38. ↑ "Vi and EaseMyTrip sign a strategic partnership". Business Traveller. Retrieved 7 May 2024.
  39. ↑ "EaseMyTrip, Jeewani Group partners with Radisson 150-room hotel in Ayodhya". Business Today. 20 February 2024. Retrieved 7 May 2024.
  40. ↑ Livemint (28 February 2024). "EaseMyTrip partners with Zaggle to streamline expense management solutions". mint. Retrieved 7 May 2024.
  41. ↑ "EaseMyTrip will now offer Zoomcar services with exclusive discounts". CNBCTV18. 19 March 2024. Retrieved 7 May 2024.
  42. ↑ Mishra, Arushi (25 April 2024). "Easy Trip Planners partners with Adani Digital Labs to offer duty-free shopping benefits". BusinessLine. Retrieved 7 May 2024.
  43. ↑ "EaseMyTrip and Manipal Hospital joins hand with SOGF Grandmasters Series as Brand Partners for the Inaugural South Zone Finals". Bru Times News.
  44. ↑ SATTE 2020 Winners
  45. ↑ "EaseMyTrip Teams Up with 20th IIFA Awards as Travel Partner". Indian Television Dot Com. 13 September 2019. Retrieved 9 March 2021.
  46. ↑ "24MRC Network felicitated the winners of 2016 Leaders Awards (Enterprise Edition)". @businessline. 28 February 2017. Retrieved 24 May 2021.
  47. ↑ "Business Leadership Award Winner". www.businesswireindia.com. Retrieved 24 May 2021.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.