Biography of Keyur Joshi: Founder of MakeMyTrip and Wildlife Luxuries (I) Pvt. Ltd.
Biography of Keyur Joshi:
Keyur Joshi, a pivotal figure in the online travel industry in India, co-founded MakeMyTrip and holds the roles of Chief Operating Officer and Strategic Advisor. His vision and leadership have been instrumental in shaping MakeMyTrip into a major player in the online travel market. Joshi’s entrepreneurial journey is further highlighted by his role as co-founder of Wildlife Luxuries (I) Pvt. Ltd., demonstrating his diverse interests in both travel and luxury experiences.
Early Career and Education
Joshi’s career before MakeMyTrip laid a solid foundation for
his future endeavors. He worked with Around the World Travel, which is now
known as JustFares.com, and Tata Motors. At Tata Motors, he managed market
research and product management, gaining valuable insights into consumer
behavior and market dynamics. Joshi’s academic background includes a Bachelor’s
degree in Chemistry from Gujarat University and an MBA from the City University
of New York. His educational journey was complemented by practical experience as
a certified pilot, reflecting his adventurous spirit and broad skill set.
MakeMyTrip's Growth
MakeMyTrip, founded in 2000, has grown significantly under
Joshi’s leadership. The company now employs between 1,001 and 5,000 people and
has managed to maintain a stable founding team despite changes, including the
resignation of Sachin Bhatia as co-founder and CMO. This stability has been
crucial in driving the company's success and maintaining its position as a
leading online travel agency in India.
Joshi’s Investment Ventures
In addition to his role at MakeMyTrip, Joshi has been active
in investing in promising ventures. One of his notable investments was in
ixamBee during its seed round in March 2023, where he contributed ₹80 million.
This investment highlights Joshi’s commitment to supporting innovative startups
and his belief in fostering new opportunities beyond his primary business
ventures.
Biography of Keyur Joshi: Founder of MakeMyTrip & Wildlife Luxuries (I)Pvt./ Investor/Success story of Keyur Joshi/Age/et worth/Unicorn company/MakeMyT
MakeMyTrip’s Subsidiaries
MakeMyTrip operates a diverse range of subsidiaries,
including Ibibo, Easy to Book Holding B.V., and others. These subsidiaries
enhance MakeMyTrip’s service offerings and expand its reach within the travel
industry. Each subsidiary plays a role in broadening the company’s
capabilities, from hotel bookings to comprehensive travel planning solutions.
The Birth of MakeMyTrip
The story of MakeMyTrip begins with its founder, Deep Kalra,
who transitioned from a banking career to entrepreneurship. After spending
years in the banking sector at ABN AMRO Bank, Kalra sought new challenges and
briefly attempted to introduce bowling to India. Despite this venture's
failure, Kalra’s determination remained unwavering. His time at GE Capital
exposed him to the potential of the internet, which, combined with a successful
online sale of his wife’s car, inspired him to explore online business
opportunities.
Early Challenges and Innovations
The early days of MakeMyTrip were marked by significant
challenges, including the aftermath of 9/11 and the nascent state of the
internet. Online payment systems were still developing, and internet access was
limited. Despite these obstacles, MakeMyTrip focused on serving Indian
expatriates, carving out a niche market that proved essential in navigating the
tough early years.
Turning Point in the Industry
A major turning point for MakeMyTrip came in 2005 with the
introduction of Deccan Airways, India’s first low-cost airline. The airline’s
model of selling tickets exclusively online revolutionized air travel, making
it more affordable and accessible. This shift, along with the Indian Railways'
move to online bookings, played a crucial role in driving the growth of online travel
services, benefiting MakeMyTrip and contributing to its expansion.
Expansion and Market Impact
As the online travel industry matured, MakeMyTrip
capitalized on new opportunities and secured significant funding, which
accelerated its growth. The company adapted to evolving trends, including
increased internet usage for travel bookings and the expansion of online hotel
reservations. MakeMyTrip’s success led to its listing on the stock market and
solidified its position as a major player in the online travel space.
Shift to New Ventures
In 2015, Keyur Joshi chose to step away from MakeMyTrip to
explore new horizons. His passion for nature and wildlife led him to establish
Wildlife Luxuries (I) Pvt. Ltd. This venture focuses on creating luxurious and
sustainable travel experiences, reflecting Joshi’s commitment to integrating
environmental consciousness with high-end hospitality.
Reimagining Hospitality
Joshi’s new venture in the hospitality sector aims to
address the lack of personalization in traditional hotel experiences.
Frustrated by the standardized and often impersonal nature of many hotels, he
sought to create a unique property near Tipeshwar Sanctuary in Maharashtra. The
goal was to offer a tailored experience that meets individual guest preferences,
whether for leisure or business.
Challenges and Resilience
The development of Wildlife Luxuries faced delays,
particularly due to the COVID-19 pandemic. Despite these setbacks, Joshi’s
vision for creating a sustainable and customizable hospitality experience
remained steadfast. The property eventually opened, offering guests a
distinctive and personalized travel experience that stands out in the industry.
A New Approach to Travel
Joshi believes that modern travelers seek more than just
standard amenities; they desire unique and personalized experiences. His
approach contrasts with traditional hospitality practices, emphasizing the
importance of catering to individual needs and preferences. This philosophy
reflects a broader shift towards more customized and meaningful travel
experiences.
Future Aspirations
Looking ahead, Joshi plans to expand his venture further,
exploring new locations such as lakes, mountains, hills, or beaches. His goal
is to push the boundaries of luxury travel and continue offering innovative and
personalized experiences. Joshi’s commitment to evolving the hospitality
industry reflects his dedication to meeting the changing desires of travelers.
Personal Reflections
Joshi’s own travel experiences have shaped his perspective
on the importance of mindset in enjoying a vacation. He recalls a memorable
family trip to the Maldives in 2010 as a highlight, emphasizing that the
quality of the experience often outweighs the destination itself.
Popular Destinations and Hospitality
In his observations, Joshi notes that Goa remains a popular
destination for Indian travelers. He also commends the Casino Group of Hotels
from Kerala for their excellence in hospitality, particularly their Coconut
Lagoon property, which exemplifies high standards in the industry.
Current Roles and Contributions
Today, Keyur Joshi balances his responsibilities as
Co-founder and Strategic Advisor at MakeMyTrip with his role at Wildlife
Luxuries. His career reflects a blend of strategic vision, entrepreneurial
spirit, and a commitment to enhancing both travel and hospitality experiences.
Looking Ahead
Joshi’s journey from his early career to his current
ventures highlights his adaptability and innovative approach. His contributions
to the travel industry and his focus on sustainable luxury continue to shape
and inspire new developments in both fields.
Final Thoughts
Keyur Joshi’s story is one of resilience, innovation, and a
deep commitment to improving industries. His work has transformed online travel
and hospitality, setting new standards and inspiring future advancements. His
journey reflects a dedication to enhancing the travel experience and making a
positive impact on the world.
Timeline of Keyur Joshi’s Journey:
1980s-1990s: Worked with Around the World Travel (now
JustFares.com) and Tata Motors, gaining market insights and product management
experience.
2000: Co-founded MakeMyTrip, starting the company that would
become a leading online travel agency in India.
2005: Deccan Airways introduced as India's first low-cost
airline, revolutionizing online ticket sales and contributing to MakeMyTrip’s
growth.
2015: Stepped away from MakeMyTrip to focus on new ventures,
including the establishment of Wildlife Luxuries (I) Pvt. Ltd.
March 2023: Invested ₹80 million in ixamBee during its seed
round, showcasing his support for innovative startups.
2024: Continued to balance roles as Co-founder and Strategic
Advisor at MakeMyTrip while leading Wildlife Luxuries, reflecting ongoing
contributions to both travel and luxury sectors.
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