Monday, May 27

Tag: Makemytrip

MakeMyTrip Takes Five Firms to Court for Using Deceptively Similar Names
News

MakeMyTrip Takes Five Firms to Court for Using Deceptively Similar Names

India’s popular travel company MakeMyTrip has taken a strict action and taken five travel and tourism websites to court for allegedly using similar sounding names. These companies include MakeMyYatra, MakeMyJourney, Make My Happy Journey, Pick My Trip and Superb MyTrip. MakeMyTrip alleged that these companies are not only using "deceptively similar sounding names" but also, some of them have copied its logo as well. The travel company also stated that it has spent almost 46% of its revenue, or 1,264 crore, (out of total revenue of 2,759 crore in fiscal year 2017-18) on advertising and marketing the MakeMyTrip brand in FY 2017-18.  "Till further orders,the defendant, its partner, directors, shareholders or proprietors as the case may be, its assigns in business, franchis...
In a first, Indian Government is Planning To Regularize Online Travel Booking
INDIA

In a first, Indian Government is Planning To Regularize Online Travel Booking

India government in a first its kind of move will setup certain guidelines for Online travel aggregators like Air B&B, Makemytrip, Yatra and Oyo to be recognised by the Tourism Ministry in order to operate, a senior official said. For the first time, the ministry has prepared a set of guidelines by which it will approve and classify online travel aggregators (OTAs) ensuring reliability of their services. The scheme for approval/re-approval of OTAs will be rolled out online by the end of this month and all applications and fee payment will have to be made on it, the ministry official said. "The scheme will set standards towards accreditation and add value to the dependability and reliability to the aggregators in the online space operating in the organised tourism sector," he a...
Ibibo Founder Ashish Kashyap Launches his Second Venture
BUSINESS

Ibibo Founder Ashish Kashyap Launches his Second Venture

Ibibo Group founder Ashish Kashyap which was later acquired by travel giant MakeMyTrip, has now launched his second entrepreneurial venture called IndWealth, 13 months after quitting the domestic travel behemoth. IndWealth is an artificial intelligence and machine learning-based wealth management and advisory platform. The company will offer a range of services to high net worth and ultra high net worth individuals. In seed funding, the company raised an estimated $30 million (about Rs 220 crore) which is possibly the largest funding round raised by a homegrown startup that is still in stealth mode. “The key learning is, managing money cannot be done through a single dimension,” Kashyap stated. “It can’t just be done through investments. It has to be done through a combination of in...
Now Check PNR And Live Train Status Via WhatsApp
News

Now Check PNR And Live Train Status Via WhatsApp

Good News! Now the passengers can check their train and live train status online via WhatsApp. Appreciation to Indian Railways, the passengers can check the train running status through WhatsApp, and make provisions beforehand. Indian Railways have come to terms with MakeMyTrip, a travel company headquartered in Gurugram, Haryana, to let the users check online train status using WhatsApp. MakeMyTrip has a WhatsApp feature which provides passengers with information on live train status, PNR status, emerging railway station, departed railway station etc. Considering the popularity and massive user base of WhatsApp, the messaging app owned by Facebook is likely to cater its railway services to a large number of people across the country. Also, the feature reduces passenger’s dependence ...
Zomato Appoints MakeMyTrip’s Mohit Gupta As CEO
News

Zomato Appoints MakeMyTrip’s Mohit Gupta As CEO

The popular foodtech company Zomato has reportedly on boarded former MakeMyTrip executive Mohit Gupta. The company has appointed him as the chief executive officer of the food delivery business. The online food delivery company, through this move, aims to expand and accelerate its growth by strengthening its senior management and leadership team. Prior to this, Gupta was the COO of the travel company, MakeMyTrip. He will now be looking after growth and P&L (profit and loss) of Zomato’s food delivery business. He will report to Deepinder Goyal, Zomato’s Founder and CEO. Deepinder Goyal, in this regard, said, "We’re thrilled to have Mohit join our team - he is one of the few internet industry veterans who has helped build a formidable transactions business in India.” Gupta, who has ...
Yatra Online eyeing to raise $50 Mn via 9 Mn Share Sale
BUSINESS

Yatra Online eyeing to raise $50 Mn via 9 Mn Share Sale

Yatra Online, country's second largest travel aggregator is eyeing to raise an estimated $50 Mn (approx Rs 332.6 crores) via share sale, as revealed by its SEC filings. The company has plans to share 9 million shares, where it is also offering additional 1.35 Mn shares to underwriters, which if exercised to full will lead total proceeds to 57 Mn. As per filings with US Securities and Exchange Commission (SEC), the Nasdaq listed OTA said that company has plans to use the proceeds from the public market sale of shares towards "general corporate and business purpose". The offering is being managed jointly by Citigroup and Jefferies. The company has said in its official statement, that shares are expected to close around June 26, 2018 subject to customary conditions. Interestingly, th...
Cleartrip buys Saudi Arabia’s Flyin as its first overseas acquisition
ACQUISITION

Cleartrip buys Saudi Arabia’s Flyin as its first overseas acquisition

Online travel agency Cleartrip has sealed its first ever cross-border acquisition in Saudi Arabia's Travel Aggregator Flyin. The acquisition will help Cleartrip strengthen its presence and expand its client base in Saudi Arabian market. Though the financial details of the deal have not been disclosed by the travel firm, it has come six years after Cleartrip entered the Gulf Cooperation Council region in 2012. As informed by the company, the combined entity will account for 60% of market share in the Middle East, which will enable both the companies to strengthen their travel offerings to cater to a diverse customer base. Stuart Crighton, Founder and CEO of Cleartrip said, With its strong customer base and rich travel offerings, Flyin is the natural partner for us in the region. W...
Startups Who Got Funded Last Week
FUNDING

Startups Who Got Funded Last Week

This week featured 9 funding articles amounting to $61.7 million (Rs 410 crores) (excluding two companies as their funding sum was undisclosed).     FreightBazaar FreightBazaar, India’s first online portal for truck hiring intended for businesses, recently raised a pre-Series A funding round with Omphalos Ventures India leading the funds of an undisclosed amount. The funds raised will serve the purpose of scaling up operations and expanding its business to several new cities, while also improving its technology to facilitate processes and procedures.     Clarity Communications Clarity Communication, a startup focused in PR and celebrity endorsement raised an undisclosed amount of funding from Atraxn Partners. The funds will serve to f...
Recent MakeMyTrip Funding Raises Valuation to Rs 26,000 crore
FUNDING

Recent MakeMyTrip Funding Raises Valuation to Rs 26,000 crore

MakeMyTrip recently raised capital from its Nasdaq-listed parent company through a rights issue that took the Gurugram-based company’s valuation to Rs 26,000 crore. Documents filed by the Indian tour and travels aggregator to the Registrar of Companies demonstrate that MakeMyTrip received around Rs 128 crore from its parent company over the last six months through subscriptions to the rights issues. The RoC filings reveal that the board of directors of MakeMyTrip agreed to allocate 323,649 equity shares at an issue price of Rs 1,000 in February of this year to its parent company MakeMyTrip Limited Mauritius on a right basis. “Consent of the board… is hereby accorded to the allotment of 3,23,649 equity shares of Rs 10 each in the capital of the company… at an issue price of Rs 1,00...
Flipkart Forays in Travel Market by Partnering with MakeMyTrip
News

Flipkart Forays in Travel Market by Partnering with MakeMyTrip

MakeMyTrip, the online travel company and Flipkart, the e-commerce marketplace announced on Thursday that it would begin a partnership intended for the travel services market. MakeMyTrip owns several branches such as Goibibo and redBus, and will use the large client base of over 100 Million registered users of Flipkart to increase the its online travel bookings. This new association will begin by providing domestic flight bookings in the coming weeks and will extend to hotels, bus and holiday bookings subsequently. "Flipkart is one of the most exciting companies of our times and we are delighted to partner with them to catalyse the massive online travel opportunity in India. This partnership will help us reach out to an even wider consumer base and further open up the online trave...
Goibibo Becomes Principal Sponsor of Mumbai Indians
News

Goibibo Becomes Principal Sponsor of Mumbai Indians

Gurgaon based Goibibo, an Online travel platform has signed an agreement with the winner of last season of IPL Mumbai Indians team as a principal sponsor of the for one year. The details of the deal have not been disclosed. Goibibo is acquired by MakeMyTrip offering online services like travel, ticket booking etc. The 11th edition of the Indian Premier League (IPL) is scheduled to begin on April 7 and continue till May 27, 2018.The matches will be played at nine venues, across 51 days. MakeMyTrip Group CMO Saujanya Shrivastava said, "The association with Mumbai Indians presents a consumer-focused brand like ours a unique opportunity to deepen our engagement with customers in a truly innovative manner". ibibo Group is an online travel organization founded in January 2007 by Ashish ...
Flipkart To Launch Its Loyalty Programme ‘Flipkart First’ To Take On Amazon Prime
News

Flipkart To Launch Its Loyalty Programme ‘Flipkart First’ To Take On Amazon Prime

India's Ecommerce Unicorn Flipkart is planning to relaunch its loyalty programme to compete with Amazon Prime that has become a key differentiator for the American internet giant. The online retailer is in talks with online travel portal MakeMyTrip and event and tickets booking platform BookMyShow and cab aggregator Ola to provide its consumers more value-added services through Flipkart First. Earlier when Flipkart launched its loyalty programme- Flipkart First, but later didn't worked much to make it work; and the service fizzled out. Also Read: Amazon Infuses $250 Mn In Indian Amazon Seller Services   Flipkart In Talks To Acquire Stake In BookMyShow   Flipkart, which has so far raised nearly $3 billion in two separate tranches this year, also plans to leve...