Biography of Deep Kalra: Founder & Chairman of MakeMyTrip -Success Story
Indian Online Travel Company
Deep Kalra: Pioneering Travel Innovation
Early Life and Education
Deep Kalra, an influential Indian businessman, was born in
Hyderabad and raised in Delhi and Ahmedabad. He earned his bachelor's degree in
Economics from St. Stephen's College, Delhi, in 1990, followed by an MBA from
the Indian Institute of Management Ahmedabad in 1992.
The Journey of Deep Kalra: From Vision to Reality
Early Life and Education
Deep Kalra was born in Hyderabad and spent his formative
years exploring the bustling city. He attended St. Columba's School, where his
curiosity and knack for problem-solving first emerged. Later, at St. Stephen's
College in Delhi, he pursued Economics, laying a solid foundation for his
future endeavors. His hunger for knowledge led him to the prestigious Indian
Institute of Management in Ahmedabad (IIM-A), where he honed his skills in
business administration.
The Birth of an Idea
After graduating from IIM-A, Deep embarked on a career that
spanned various sectors including corporate banking, financial analysis, and
senior management roles. However, it was his passion for leveraging technology
to simplify everyday tasks that sparked the idea for MakeMyTrip. Recognizing
the potential of the internet in revolutionizing travel planning, Deep set out
to create a platform that would change how people booked their journeys.
Resilience and Reinvention: Deep Kalra's Journey Through
Challenges
Early Ventures and Setbacks
After a promising start at ABN Amro Bank, Deep Kalra
ventured into entrepreneurship with AMF Bowling, aiming to introduce ten-pin
bowling to India. Despite opening 200 lanes, the venture faltered due to a lack
of mentorship and failed to resonate with the Indian audience. This setback
prompted Deep to return to the corporate world, joining GE Capital for
stability and growth.
Pioneering Online Travel
During the mid-90s, with the internet's burgeoning potential
evident through giants like Yahoo! and Google, Deep Kalra envisioned a
revolutionary approach to travel planning. Fueled by a desire to streamline the
industry and empower travelers, he founded MakeMyTrip. Despite initial
challenges, including the dotcom bubble bursting just days after launch,
resulting in a complete loss of funding, Deep remained undeterred.
Trials and Triumphs
Facing adversity head-on, Deep and his team navigated the
aftermath of the dotcom crash with resilience. They downsized significantly,
halving their workforce and executive salaries to sustain operations. This
period tested their resolve but also laid the foundation for MakeMyTrip's
evolution into a resilient and adaptive entity.
Founding MakeMyTrip
In 2000, Deep Kalra founded MakeMyTrip, a pioneering online
travel company that aimed to make travel planning easier and more accessible.
With his background in economics and management, coupled with his extensive
experience in e-commerce and marketing, Deep navigated the challenges of
entrepreneurship with resilience and determination. MakeMyTrip quickly gained
popularity, becoming India's leading travel advisor under his visionary
leadership.
Backed by $2 million from eVentures and co-founders Keyur
Joshi, Rajesh Magow, and Sachin Bhatia, MakeMyTrip emerged as a beacon of
innovation in the travel industry. Initially focused on India-US travel routes,
the platform swiftly expanded its offerings, catering to diverse travel needs
with user-friendly technology and customer-centric services.
Legacy and Continued Innovation
Today, MakeMyTrip stands as a testament to Deep Kalra's
vision and perseverance. By leveraging the internet's potential, he not only
transformed travel planning but also inspired a new wave of digital
entrepreneurship in India. Deep's journey underscores the importance of
resilience, adaptability, and unwavering commitment in overcoming challenges
and achieving long-term success.
Challenges and Triumphs
Like any entrepreneurial journey, Deep faced numerous
challenges along the way. From navigating the complexities of the e-commerce
landscape to building a trustworthy brand in a competitive market, each
obstacle only fueled his determination to succeed. Through strategic
partnerships, innovative marketing campaigns, and a relentless focus on
customer experience, MakeMyTrip continued to grow, solidifying its position as
a trailblazer in the online travel industry.
Advice to Entrepreneurs
Today, Deep Kalra stands as an inspiration to aspiring entrepreneurs across India and beyond. His journey from a curious student to the founder of a multi-million-dollar company is a testament to the power of passion and perseverance. Deep advises budding entrepreneurs to approach life as a marathon, emphasizing the importance of endurance and steadfastness in achieving long-term goals.
Leadership and Contributions
Since August 2013, Kalra has served as Group CEO of
MakeMyTrip, steering the company towards significant growth and innovation in
the travel sector. In 2022, he was appointed Group Chairman and Chief Mentor,
focusing on product innovation and expanding the company's footprint. Beyond
MakeMyTrip, he co-founded Ashoka University and is actively involved with NGOs
like I am Gurgaon.
Biography of Deep Kalra: Founder & Chairman of MakeMyTrip -Success Story/ Indian Online Travel Company/Entrepreneur/businessman/investor/Story of makemytrip
Entrepreneurial Impact
Deep Kalra's entrepreneurial prowess extends beyond
MakeMyTrip. He has contributed to the establishment of several successful
travel and technology ventures, highlighting his role as a leader in shaping
India's digital landscape.
The Rise After The Storm: MakeMyTrip's Journey
Surviving the Dotcom Bust
MakeMyTrip weathered the storm of the dotcom bubble's
aftermath, distinguishing itself as one of the few companies to endure the
market crash. Despite initial challenges, the company's resilience set the
stage for its subsequent growth and success.
Strategic Alignment with IRCTC
MakeMyTrip experienced a significant breakthrough when IRCTC
enabled online ticket bookings, aligning perfectly with its business model.
This pivotal partnership propelled the company's profitability and expanded its
service offerings across India, marking a turning point in its trajectory.
Rapid Expansion and Market Dominance
The collaboration with IRCTC catapulted MakeMyTrip's
popularity, resulting in a substantial increase in daily website visitors. The
company emerged as a leader in flight ticket bookings, achieving a remarkable
milestone where every 1 in 12 flight tickets in India was booked through its
platform. By 2008, MakeMyTrip surpassed ₹1000 crore in revenue and recorded
profits of $5 million USD, underscoring its resurgence and establishing its
founders as visionary entrepreneurs.
NASDAQ Listing: A Game-Changing Move
MakeMyTrip reached new heights in 2010 with its listing on
NASDAQ, a milestone that not only outshone its competitors but also solidified
its status as a top player in the global market. Under Deep Kalra's leadership,
the company successfully bridged the gap between the Indian and U.S. stock
exchanges, earning admiration and respect within the industry and beyond.
Recognition and Influence
Kalra's contributions have been widely recognized, with KPMG
ranking him as the #1 most powerful digital influencer in India in 2011. His
leadership roles, including heading the NASSCOM internet working group,
underscore his influence in the technology and travel sectors.
Deep Kalra: Architect of Transformation in Travel
Leadership in Industry and Advocacy
Deep Kalra's influence extends far beyond the boardroom. As
a member of the Executive Council of NASSCOM and chairperson of the NASSCOM
Internet Working Group, he actively shapes policies that drive innovation and
growth in India's tech landscape. His role in the CII's sub-tourism committee
underscores his commitment to advancing the travel sector.
Awards and Accolades
Under Deep Kalra's stewardship, MakeMyTrip achieved
remarkable recognition, earning the title of "Best Travel Portal
India" consecutively at the World Travel Awards from 2013 to 2014. The
company's commitment to excellence was further affirmed by its inclusion in the
"Best Companies to Work For" list by the Great Place to Work
Institute multiple times between 2010 and 2013.
Financial and Entrepreneurial Success
Deep's entrepreneurial acumen is reflected in MakeMyTrip's
substantial growth. With a net worth estimated at $136 million in 2020 and a
current market cap exceeding $2 billion, MakeMyTrip stands as a testament to
his strategic vision and leadership.
Inspiration and Legacy
Beyond his professional achievements, Deep Kalra serves as
an inspiration to aspiring entrepreneurs in India and globally. His ability to
navigate through challenges, including the global disruptions that tested
MakeMyTrip's resilience, demonstrates his strategic foresight and
determination. By seizing opportunities, such as expanding online services
after IRCTC, Deep has not only transformed the travel industry but also
solidified his place among India's foremost entrepreneurs.
Conclusion
Deep Kalra's journey exemplifies how dedication, innovation,
and perseverance can redefine an industry. From pioneering online travel
solutions to advocating for technological advancements, he continues to inspire
a generation of leaders. As MakeMyTrip continues to innovate and grow under his
leadership, Deep Kalra's legacy as a visionary entrepreneur and industry
stalwart remains firmly established, shaping the future of travel in India and
beyond.
Deep Kalra's life story is not just about business success,
but about the transformative impact of innovation and dedication. Through
MakeMyTrip, he has not only simplified travel planning but has also paved the
way for future entrepreneurs to dream big and pursue their visions
relentlessly. As he continues to inspire and lead, Deep Kalra remains a beacon
of entrepreneurship in the digital age, proving that with determination and
foresight, anything is possible.
A timeline summarizing Deep Kalra's journey:
1968: Deep Kalra is born in Hyderabad, India.
Early Education: Attends St. Columba's School, Delhi.
1990: Graduates from St. Stephen's College, Delhi with a bachelor's
degree in Economics.
1992: Completes MBA from the Indian Institute of Management
Ahmedabad.
Early Career: Works in corporate banking and senior
management roles, including at ABN Amro Bank and GE Capital.
Venture into Entrepreneurship:
2000: Founds MakeMyTrip, pioneering online travel booking in
India.
Early 2000s: Navigates challenges including the dotcom
bubble burst, downsizes operations, and maintains resilience.
2005: Secures $10 million in funding from eVentures.
Leadership and Growth:
2013: Becomes Group CEO of MakeMyTrip.
2022: Appointed Group Chairman and Chief Mentor, focusing on
product innovation and expansion.
Entrepreneurial Impact and Recognition:
- Co-founds Ashoka University and contributes to NGOs like I am Gurgaon.
- Recognized as the #1 most powerful digital influencer in India by KPMG in 2011.
- Receives numerous accolades including "Best Travel Portal India" at the World Travel Awards.
Financial Success:
- MakeMyTrip's market cap exceeds $2 billion.
- Estimated net worth of $136 million in 2020.
Legacy and Influence:
Continues to inspire entrepreneurs through his journey of
innovation and perseverance in the digital age.
This timeline outlines Deep Kalra's entrepreneurial
evolution from his education to founding MakeMyTrip and his ongoing impact on
India's digital and travel sectors.
