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EaseMyTrip

From Wikipedia, the free encyclopedia
Indian multinational online travel company

EaseMyTrip
Company typePublic
ISININE07O001018
IndustryOnline travel agency
Founded2008; 17 years ago (2008)
Founders
Headquarters,
India
Area served
Worldwide
Services
RevenueIncrease590 crore (US$70 million) (FY24)[1]
Increase228 crore (US$27 million) (FY24)[1]
Increase157 crore (US$19 million) (FY24)[1]
SubsidiariesSpree Hotels and Real Estate Pvt Ltd
Websitewww.easemytrip.com

EaseMyTrip is an Indianmultinationalonline travel company, headquartered inNew Delhi. It was founded in 2008 byNishant Pitti, Rikant Pitti, and Prashant Pitti. The company provideshotel bookings,air tickets,domestic and international holiday packages, bus bookings, and white-label services.

History

[edit]
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 initialinvestment within the first three months.[2] 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.[3]

In 2019, EaseMyTrip had a network of more than 42,000travel agents, 1,200 franchise outlets, 640 white-label solutions, and around 1,600 distributors.[4]

In 2019, EaseMyTrip expanded its operations to international markets such asUAE,UK,US,Philippines,Singapore, andThailand.[5][6][7]

In March 2021, EaseMyTrip went public with aninitial public offering.[8][9][10] It became the first online travel agency to be listed on theIndian stock exchanges.[11][12][8][13]

In June 2021, EaseMyTrip collaborated withOyo Rooms,Airbnb, andYatra to form theConfederation of Hospitality, Technology and Tourism Industry (CHATT), an industry body for thetourism sector of India.[14]

In September 2021, it became a unicorn after its market capitalisation crossed $1 billion.[15] In December 2021, the organisation hiredVijay Raaz andVarun Sharma as their brand ambassadors.[16]

EaseMyTrip acquired Spree Hospitality, a hospital management company established in 2011 by Keshab Baljee, for an undisclosed amount.[17][18] The company announced the acquisition of travel marketplace Traviate in October 2021.[19] EaseMyTrip acquired Yolobus, an intercity mobility platform, in 2021.[20]

In August 2024, the platform signed onJacqueline Fernandez as a brand ambassador.[21][22]

On 17 September 2024, it announced its move into themedical tourism sector with the acquisition of a 49 per centequity stake in Pflege Home Healthcare for30crore, and a 30 per cent stake in Rollins International for ₹60 crore.[23][24]

In November 2024, EaseMyTrip acquired a 49% stake in Planet Education Australia. This move will expand its presence in international study tourism.[25]

Controversies

[edit]

On March 8, 2022,[when?] a consumer technology firm fromPune called udChalo filed a trademark infringement case against EaseMyTrip.[26] Previously,MakeMyTrip also moved toDelhi High Court against the company andGoogle both forTrademark violation.[27]

References

[edit]
  1. ^abc"Q4 and FY2024 Investor Presentation"(PDF).BSE. Easy Trip Planners Ltd. Retrieved7 June 2024.
  2. ^Modi, Ajay (12 January 2017)."Aggressive EaseMyTrip flies into top league".Business Standard India. Retrieved3 June 2019.
  3. ^"EaseMyTrip faces cash flow issues as forward bookings drop, refunds continue".cnbctv18.com. Retrieved9 October 2020.
  4. ^"EaseMyTrip looks to raise up to Rs 750cr via IPO; books Axis Capital, JM Financial as bankers".Moneycontrol. Retrieved3 June 2019.
  5. ^"EaseMyTrip's Q2 profit jumps by 330% YOY; air segment, hotel bookings rise".Business Today. Retrieved25 November 2021.
  6. ^Kundu, Rhik (2 November 2021)."EaseMyTrip net profit surges over 300% to ₹27.13 crore".mint. Retrieved25 November 2021.
  7. ^Chaturvedi, Anumeha."EaseMyTrip expands international presence to Philippines, Thailand, and the USA".The Economic Times. Retrieved25 November 2021.
  8. ^ab"EaseMyTrip IPO is set to open on Monday — price band for the issue set at ₹186 to ₹187 per share".Business Insider. Retrieved3 March 2021.
  9. ^Chengappa, Sangeetha."EaseMyTrip clocks 47% CAGR from FY 2018-20".@businessline. Retrieved15 September 2021.
  10. ^Kundu, Rhik (15 June 2021)."EaseMyTrip reports eight-fold increase in Q4 profit".mint. Retrieved15 September 2021.
  11. ^www.ETtech.com."EaseMyTrip plans to raise Rs 700 crore from public issue – ETtech".The Economic Times. Retrieved11 December 2019.
  12. ^"EaseMyTrip's IPO Plans May Go Live Soon To Raise INR 700 Cr".Inc42 Media. 11 December 2019. Retrieved11 December 2019.
  13. ^"Easy Trip Planners IPO subscribed over 159 times on last day".The Economic Times. Retrieved16 March 2021.
  14. ^"Oyo, Airbnb, EaseMyTrip, Yatra join hands; form industry body for tourism sector".Business Today. Retrieved15 September 2021.
  15. ^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. Retrieved25 September 2021.
  16. ^Livemint (29 December 2021)."EaseMyTrip appoints Vijay Raaz and Varun Sharma as brand ambassadors".mint. Retrieved14 July 2022.
  17. ^Chaturvedi, Anumeha."EaseMyTrip acquires Spree Hospitality, a 1200 keys hospitality management company".The Economic Times. Retrieved25 November 2021.
  18. ^Chaturvedi, Anumeha."EaseMyTrip acquires Spree Hospitality, a 1200 keys hospitality management company".The Economic Times. Retrieved13 December 2021.
  19. ^"EaseMyTrip to buy travel marketplace Traviate in first ever acquisition".The Economic Times. Retrieved25 November 2021.
  20. ^Chaturvedi, Anumeha."EaseMyTrip acquires the YoloBus brand to expand its non-air business".The Economic Times. Retrieved14 July 2022.
  21. ^"EaseMyTrip.com appoints Bollywood actress Jacqueline Fernandez as brand ambassador".BusinessStandard. Retrieved24 August 2022.
  22. ^"Jacqueline Fernandez joins EaseMyTrip as brand ambassador".BrandEquity.com. Retrieved24 August 2022.
  23. ^Manchanada, Kunal (17 September 2024)."EaseMyTrip invests Rs 90 Cr in two overseas firms; enters medical tourism space".Entrackr. Retrieved17 September 2024.
  24. ^"EaseMyTrip enters medical tourism; board approves Rs 90 crore acquisitions".
  25. ^"EaseMyTrip to acquire Planet Education Australia, foray into study tourism".The Economic Times. Retrieved15 November 2024.
  26. ^"UdChalo files infringement case against EasyMyTrip and other online travel agents in Delhi HC - ET BrandEquity".
  27. ^"MakeMyTrip files suit against EaseMyTrip over trademark violation". 22 March 2019.

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