MakeMyTrip.Com can probably be viewed as one of the first travel sites for India (if not the first!). According to their website, MakeMyTrip has been running since 2000, which means it has been in existence since the past 10 years. After 10 years of struggle finally a big moment of success has happened for this company … it listed on NASDAQ with a market cap of $450 million and on the listing day itself the stock zoomed by 89% to reach a market cap of $800 million (according to VCCircle)
Now, one important conclusion from this surge in market cap is clear. India and it technology companies are being considered a great investment across the world.
- India is the next big market for the world: With a population over a billion, growing middle class, increasing consumption and improving lifestyle … companies worldover are looking at India as its next destination. Being the most popular travel website in such a country means big bucks now and bigger bucks going forward
- India’s Biggest Travel Site: I am not keen enough right now to visit Alexa and check MakeMyTrip.com’s ranking in India but I am pretty sure it is amongst the top. The only competition can be ClearTrip and Yatra, but I don’t think they beat MakeMyTrip.
- Internet Boom in India: India has a growing internet population and with that the market keeps growing.
- Increased Spending: With more air travel, more train bookings online, hotel bookings online … the market just keeps on growing.
Now all these factors point to one direction, Growth! India and its growth potential is driving the market cap of these companies and all companies similar to MakeMyTrip, which have successfully made a hold in India will become successes.