IN THE early 2000s, air travel in India was not as democratised as it is today. Among those who saw the inside of a commercial airplane was Delhi-based Nishant Pitti, who was shipped off to Guwahati — from where his father operated his business of coal transportation. Little did Pitti know that the decision will culminate in the creation of EaseMyTrip — an online travel platform with gross booking revenue of ₹3,716 crore and PAT of ₹106 crore in FY22.
Homesick, Pitti wanted to return to Delhi, but his parents kept deferring his homecoming, because flight tickets were expensive. Sitting in a cyber café in Guwahati, Pitti was able to spot cheaper tickets, but was told by his travel agent that he will not be able to get the confirmed seat at the same price. Miffed, Pitti booked that ticket. “It started from there. Initially, we were a small-time travel agency, and we used to book tickets for family and friends,” says CEO Pitti.
He started a website and invited travel agents to deposit capital in the company’s bank account, which would give them money in a wallet-like facility. “We would disburse the amount to airlines, and because we were giving them more business, they gave us more commission,” says Pitti. In 2011, three years after the business was incorporated as EaseMyTrip, the company onboarded 1,800 franchises. It was the time also when travel pivoted from B2B to B2C. “We had a full-fledged website; we just had to integrate a payment gateway,” says Pitti.
The company chose to take its time in going public, which made it a unicorn on listing. It has a leaner operational model, and does not burn cash. While B2C commands a lion’s share of the business, EaseMyTrip is back to the franchise model to foray into the holidays and packages model.
— Rishi Kant