The Journey of MakeMyTrip and the Magic of Deep Kalra
In the chaos of our daily lives, stress often becomes a constant companion. For many, the ultimate relief comes in the form of a much-needed vacation. But planning a trip? That can sometimes feel like more trouble than it’s worth.
Who is Deep Kalra?
Deep Kalra is the founder of the famous brand Make My Trip. Traditional vacation planning has been changed by entrepreneurs like him. This hassle has become a thing of the past. His groundbreaking venture, MakeMyTrip, transformed the way Indians explore the world and travel simpler, more accessible, and hassle-free.
Early Life and Education
Deep Kalra was born in Hyderabad, he did his undergraduate in economics at St. Columba's School and St. Stephen’s College, Delhi, Deep showed early promise. With a knack for numbers and a sharp intellect, he pursued an MBA at the Indian Institute of Management, Ahmedabad (IIM-A). His entrepreneurial spirit began to take root at IIM.
Corporate Career
After completing his MBA, Deep joined ABN Amro Bank, where he worked for three years. But the corporate grind left him yearning for more. In an attempt to carve his niche, he introduced AMF Bowling to India and hoped to spark a ten-pin bowling craze. Unfortunately, the venture didn’t resonate with Indian audiences, and it ended in failure.
This setback forced Deep to return to the corporate world with GE Capital, where he honed his skills in sales and marketing. Yet, the fire to create something impactful still burned within him.
The Birth of MakeMyTrip
The late 90s witnessed the internet boom, with platforms like Yahoo! and Google changing the digital landscape. Deep, inspired by the possibilities. He envisioned a platform that could simplify travel planning.
With a $2 million backing from eVentures and co-founders Keyur Joshi, Rajesh Magow, and Sachin Bhatia, he launched MakeMyTrip in the year 2000. The platform aimed to eliminate the dominance of traditional travel agents, offering users a transparent, cost-effective, and reliable way to plan trips.
However, Deep's journey was far from smooth. The infamous dotcom bubble burst just two days after MakeMyTrip's launch and wiping out its funding. The company faced severe financial challenges, forcing Deep to halve his team and executives’ salaries. Deep saw the crisis as an opportunity to persevere and rebuild.
Who are the co-founders of MakeMyTrip?
Deep Kalra, Keyur Joshi, Rajesh Magow and Sachin Bhatia are the co-founders of MakeMyTrip.
The Turning Point
MakeMyTrip’s fortunes began to change when the Indian Railways Catering and Tourism Corporation (IRCTC) introduced online ticket bookings. This strategic alignment gave MakeMyTrip the boost it needed. Deep expanded the platform’s services to include domestic travel, and the response was overwhelming for them.
By 2008, the platform boasted over 2 million customers and was recording profits of $5 million USD. A company that had once teetered on the brink of collapse has now become a dominant force in the travel industry.
In 2010, MakeMyTrip achieved a monumental milestone by becoming the first Indian travel company to be listed on NASDAQ, cementing its reputation as a global player. This achievement not only elevated the company's status but also inspired countless budding entrepreneurs.
Under Deep's visionary leadership, MakeMyTrip grew exponentially. It earned accolades such as the “Best Travel Portal India” by the World Travel Awards (2013 and 2014) and a spot on Great Place to Work lists for four consecutive years.
Deep Kalra: The Man Beyond Business
Deep’s journey is a testament to his resilience, humility, and commitment to giving back. Beyond MakeMyTrip, he has actively contributed to society through initiatives like I Am Gurgaon and as a founding trustee of Ashoka University.
His success has not only reshaped the travel industry but also made him a role model for aspiring entrepreneurs. As a member of NASSCOM’s Executive Council and the Chairperson of its Internet Working Group, he continues to shape India’s digital future.
Deep Kalra Net worth
Today, MakeMyTrip stands tall with a market valuation of over $2.84 billion USD, helping millions plan their dream vacations. However there is no such data available. Deep’s net worth is estimated at $136 million in 2020.
His mantra, “Tough times teach you the most,” resonates with everyone striving to make their mark in the world. Deep Kalra’s journey is proof that success is not the absence of failure but the ability to rise above it.
Deep Kalra’s story is not just about building a successful business; it’s about transforming challenges into stepping stones. From the failure of AMF Bowling to the triumph of MakeMyTrip, his journey is a masterclass in perseverance and innovation.