One out of every 12 domestic air tickets are booked through MakeMyTrip¬†the Indian travel agency. The company claims it is the largest online seller of tickets in India.
Here’s a round-up of what’s new with the company, which has grown its revenue 66% in the past year to¬†$197 million and is¬†headquartered in Gurgaon.
The company has told the press in a series of interviews that it has $88 million in cash for acquisitions, which it plans to deploy in a series of small buys.
It is looking for companies that are bundling hotels and holidays, to help it shift away from being dependent on¬†75% of its revenue from low-margin air ticket sales.
This week, it added¬†PayPal¬†as a payment option for non-residents.
This year it launched an Android app that has been downloaded 60,000 times in the first two months.
It also recently began selling “opaque¬†fares” in a model similar to Hotwire‘s, where the name of the airline is not disclosed to the traveler until a purchase is completed.
MakeMyTrip¬†has now signed verbal and written¬†agreements against poaching employees with 30 other organizations.
MakeMyTrip and rival OTA¬†Yatra¬†continue to cement their home-grown advantage against foreign owned rivals like Expedia by having a culturally relevant approach: Both companies started as online operations but soon opened bricks-and-mortars stores to increase brand awareness among locals.
MakeMyTrip sells a third of its inventory through its 20 outlets, some of which are franchised. Outlets take about four years to become profitable on average, says the company.
Meanwhile, to compete without a bricks-and-mortar presence, Expedia¬†is spending $9 million in advertisement TV across local platforms, as part of its $13 million¬†in-country¬†marketing spend in 2012.