Started his online venture in 2001
In August 2010, MakeMyTrip had a dream debut on Nasdaq, with the parent company's shares soaring over 80% after listing, catapulting its valuation to $800 million on Day 1.
The company raised $58 million from its initial public offer. At an offer price of $14 per share, the company was valued at close to $450 million prior to listing, and is currently valued at close to $1 billion.
The company achieved sales of Rs 2,200 crore in the financial year ending March 2010 and continues to grow rapidly at over 50% in the current year.
A good team is a plus
I had always aspired to be an entrepreneur. During my assignment with GE, I realised the potential of the internet. This, and my passion for travel gave birth to MakeMyTrip. Finding investors for an online venture in India was difficult, so we started services for NRIs in the US.
Success is a combination of factors. For me, having a great team to support the venture and work with is on top of the list. Another big factor is perseverance.When I started the company in 2001, market conditions were poor. I could have called it quits and moved on, but I decided to hold on to the venture. We worked on execution and innovation, which helped the business grow immensely. This was a decade ago. My stints with GE Capital, AMF Bowling and ABN Amro Bank, too helped. At GE, I learnt how to handle scale, AMF was an entrepreneurial experience while ABN Amro was a young company when I joined.
Creating a good work environment is a bigger validation than any financial achievement.
I truly believe that without happy employees, you can't have happy customers.
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