Deep Kalra story from Stay Hungry Stay Foolish

2. DEEP KALRA

3. TRIPPING ALONG
• Deep Kalra (PGP 1992), makemytrip.com
• Deep went into business the way every
entrepreneur dreams it will happen: a venture
capitalist offered him $ 2 million to start up.
But with the dotcom bust he had to invest his
life savings and buy back his own company.
Makemytrip.com is today India's leading travel
portal.

4. • BA from St Stephen's college, and then an MBA
from IIM Ahmedabad.
• “Agar kuch banana hai toh khud hi banana padega
” - Deep Kalra (Founder of Makemytrip.com).
• Out of campus Deep joined ABN Amro . After a
year or so he realised ‘Banking nahin karnee
!’There was the seed of a thought - it would be
fun to do something of your own .
• After 3 years of banking and exploring different
businesses he joined AMF Bowling .
• He joined AMF Bowling, which pioneered the
concept of bowling alleys in India.
• AMF had no operations in India, so the job was in
essence entrepreneurial.

5. • Deep spent four years with AMF, and “Really, really
tried very hard to make it happen.
• Although Deep worked for AMF as an employee, it was
entrepreneurial for two reasons.
• First:- The fixed salary component was low, it was
based around bonuses and how much equipment you
sold.
• Second : There was very loose support from the US
office. Apart from equipment support and service
support, you pretty much did your own thing.
• The disadvantage of working with AMF was that there
was nothing much to learn beyond a point. Hence Deep
thought of going back to working for a big company
and joined GE Countrywide.

6. • In GE he was inspired by President Nitin Gupta who
wanted to provide his company a quantum leap and
wanted to make use of internet as a way to sell
consumer finance. Deep was entrusted this work.
• Around the same time Deep came across people like
Ajit Balakrishnan at rediff.com, Sanjeev Bikhchandani
at naukri.com and the folks behind sify.com. That's
when the turning point happened.
• These meetings provided the fundamental thought of
Internet will change the life of the people in future.
“I realised internet is going to change our life
fundamentally and I always wanted to do my own
thing. I was 30 years old and said to myself, ‘ Abhi
nahin kiya to kabhi nahin karenge

7. • Two plans:
- Online travel stock broking.
• Venture started as India Ahoy – later
rechristened makemytrip.com.
• Neeraj Managing Partner of eVentures gave
him the money.
• Deep agreed to give 70% of the company for
2 millions dollars to him.
• Second chance to get it back as eVentures
packed up from India. Deep brought his own
company with his life savings.

8. CHALLENGING DAYS
• In June 2001 salary payment became difficult.
The company shrank from 40 employees to
around 20.
• Moved from smart 3000 sq ft office to 1000 sq
ft.
• two and half months salaries to pay.Came
close to sutting down.
• No one buying online

9. STRATEGIES USED
• Makemytrip stooped marketing in India and
focused on US based NRIs.
• This saved the company.
• Booking online at good price.
• 2005 makemytrip became nice ,robust and
profitable.
• Launched in 2005 September to India again.
• Revamped to Indian market.Second big trend
was meeting the folks at Indian Railways.

10. GROWTH
• By March 2008 makemytrip achived a growth
of $250 millions in sales (aprox 1000 crores).
• $20 million in commission or Rs 80- 90
crores.
• 70% of business is now from India, with close
to 10,000 tickets sold online each day.
• within 11 months of launch makemytrip
became the highest issuer of air tickets.

11. • Set up 20 stores across country to sell holiday
packages.
• Softbank Asia Infrastructure Fund was the first
to invest.
• In subsequent rounds Deep took money from
three funds-Helion Partners,Sierra Ventures
and Tiger Global.
• Now scaling of employees from 20 to 75
people.
• At the end Deep knows he was lucky to get a
second life as an Entrepreneur.

12. QUALITIES OF DEEP KALRA AS
ENTREPENUR
• Risk taker
• Innovative
• Inner confidence
• Fun in work
• Honesty
• Support from family
• Belief

13. CHALLENGES FACED
• Sell other products online
• To manage many investors
• Being innovative
• Sustaining in economy crisis
• Indian business profitable.

14. ADVICE TO YOUNG ENTREPRENEURS
• Choose your field very carefully.
• Plan your fundings very carefully.
• Its all about people
• Make friends at work and promote an
honest and open working atmosphere.
• Don’t focus too much on exits.

15. THANK YOU
BY-PRASHANT JOSHI PRADHAN