Overview
EaseMyTrip.com is a prominent Indian multinational online travel agency, established in 2008 by Nishant Pitti, Rikant Pittie, and Prashant Pitti. Headquartered in New Delhi, India, EaseMyTrip ranks as India's second-largest online travel platform. Initially rooted in the founders’ agency, Duke Travel, the company pivoted to a customer-centric model in 2011, adopting a 'no convenience fee' policy, enabling a loyal customer base through transparent pricing strategies.
Products and Services
EaseMyTrip offers a wide array of travel-related services:
- Flights: Booking services for both domestic and international air travel.
- Hotels: Diverse accommodation options to meet various travel needs.
- Bus and Train: Comprehensive ticketing for local and national routes.
- Cabs, Cruises, Activities, Holidays, and Charters: Full-spectrum travel solutions with customizable holiday packages.
Financial Highlights
EaseMyTrip has demonstrated stable financial and operational efficiency:
- Maintains a 99% Booking Success Rate.
- Achieved a 3.14% Look-To-Book Ratio.
- Boasts over 25 million registered users.
- Declared FY 2023-24 revenue of ₹609.08 crore with a profit of ₹103.46 crore.
Market Position and Valuation
EaseMyTrip attained unicorn status with a market capitalization of approximately USD 1.3 billion. The company, which launched its IPO in March 2021, is publicly listed on Indian stock exchanges. Even after a recent 45.17% decline in net profit, revenue growth persists, exemplifying resilience in a competitive market field.
Leadership
Nishant Pitti - Co-Founder & CEO
Under Nishant Pitti's strategic leadership, EaseMyTrip has emerged as a powerhouse in the travel industry. His key achievement includes successful IPO execution, establishing EaseMyTrip as India's first publicly listed online travel company. He is listed among Fortune India's 40 under 40, and serves as the honorary secretary for the Travel Agents Federation of India.
Rikant Pittie - Co-Founder
Rikant Pittie ensures EaseMyTrip remains technologically progressive and business-savvy, securing its position as the second-largest travel platform in India. Awarded Entrepreneur of the Year in Service Business (Travel), he also functions as the Vice Chairman of the CII Delhi State Council.
Prashant Pitti - Co-Founder
Prashant Pitti played a crucial role in the bootstrapping success and IPO of EaseMyTrip without external assistance. With his background from IIT Madras and experience in multinational finance, he drives EaseMyTrip's reputation and growth in the tech space.
Global Presence
EaseMyTrip has secured a robust global presence, with operations extending to the USA, UK, Dubai, Thailand, Singapore, the Philippines, and New Zealand. It employs a hybrid platform model to cater to a large distribution network, thus enhancing its international service offerings.
Key Achievements and Awards
- Best Online Travel Agency – Veta 2024
- Online Travel Agent of the Year - SATTE Awards 2024
- Game Changer Award – India Travel Awards, North, 2023
- Bootstrapped Entrepreneur of the Year – HURUN India 2022
- Best Travel Portal of the Year – Entrepreneur India 2022
Recent Developments
- Acquisitions and Investments: Strategic moves include acquiring a ₹3.9 million stake in Etrav Tech Ltd., broadening EaseMyTrip's service repertoire.
- Expansion Plans: Plans to inaugurate 100 retail stores by FY25 to blend online ease with direct customer interaction.
- Technological Advancements: Constantly improving its technology base to ensure a secure, advanced service platform and efficient customer support.
Competitor Profiling
Overview
EaseMyTrip.com, actively competing in the online travel sector, ranks 14,775 globally and 889 in India, welcoming 4.93 million monthly visitors with an authority score of 76.
Key Competitors
1. Ixigo.com
- Monthly Visits: 10.11 million
- Global Rank: 7,363
- Country Rank (India): 395
- Authority Score: 82
- Bounce Rate: 49.21%
Ixigo relies on an AI-powered platform, serving comprehensive travel services via a significant online footprint and innovative technology like AI trip planners.
2. Goibibo.com
- Monthly Visits: 14.44 million
- Global Rank: 5,079
- Country Rank (India): 283
- Authority Score: 87
- Bounce Rate: 43.39%
As a MakeMyTrip Limited segment, Goibibo is a major online travel brand offering extensive hotel, flight, and train bookings.
3. Redbus.in
- Monthly Visits: 15.36 million
- Global Rank: 4,755
- Country Rank (India): 257
- Authority Score: 85
- Bounce Rate: 43.33%
RedBus, renowned in bus ticketing, extends services across multiple nations, anchoring a dominant position in online travel services.
4. Cleartrip.com
- Monthly Visits: 5.24 million
- Global Rank: 13,912
- Country Rank (India): 884
- Authority Score: 78
- Bounce Rate: 51.48%
With a user-friendly approach, Cleartrip has carved out a niche, particularly in air and hotel bookings, through strategic international expansions.
5. Makemytrip.com
- Revenue: US $593.0 million (2023)
- Employee Strength: 3,338
- Market Presence: Global, with a stronghold in India
MakeMyTrip leads the market, proffering a wide spectrum of services and solidifying its stature through acquisitions like Goibibo and RedBus.
Market Insight
In a highly competitive landscape, EaseMyTrip faces rivalry from technology-driven entities like Ixigo, Goibibo, and RedBus, who capitalize on user experience advancements and service range expansions. A strategic emphasis on refining user engagement and building website authority may facilitate more formidable competition from EaseMyTrip in acquiring broader market relevance.
