Many Indians aspire to build businesses worth crores of rupees, and many of them do so with success—Sridhar Vembu of Zoho and Nitin Kamat of Zerodha are just two examples. Also, Rikant Pitti is on the list.
Many Indians aspire to build businesses worth crores of rupees, and many of them do so with success—Sridhar Vembu of Zoho and Nitin Kamat of Zerodha are just two examples. However, Rikant Pitti is also on the list. EaseMyTrip is the name of Rikant Pitti's company. It has a market capitalisation of over Rs 8000 crore and generated a net profit of Rs 24 crore in FY-19 and Rs 146.8 crore in FY-23. Pitti did not take any funding at the outset to build the company. It all started with a simple idea that developed into EaseMyTrip. Rikant was the one who brought the idea to life; it is fascinating to see how an idea came to be and how it eventually became a business valued at over Rs 8000 crore.
At the time, Rikant Pitti was an engineering student. His father was a businessman who needed to take 15–20 flights a month to get from one place to another. Since travel agents then charged up to Rs 1,500 more than the online ticket price, Rikant began booking tickets for his father in order to save the extra Rs 20,000 that would have been required even if he took only 15 flights.
Booking tickets for friends and family as well as for himself, Rikant Pitti was approached by the airlines when they noticed that he was booking an excessive number of tickets (using the same account). Feeling that this was a good business and that the opportunity had came itself, Rikant opened a travel agency called Duke Travels while still a college student.
EaseMyTrip (EMT) was founded when Rikant invested Rs 15 lakh to launch the business in a one-bedroom apartment in East Delhi with his brother by his side. Additionally, EaseMyTrip sold more than 20,000 airline tickets every day within a year after offering "No Convenience Fee" and "Zero Hidden Charges" to draw customers. By 2015, the company's sales had risen to Rs 1,500 crore.
The hard work of Rikant Pitti and his two brothers has paid off; last month, the co-founder of EasyMyTrip, Rikant, bought a commercial property in Sector 32, Gurgaon, for Rs 99.34 crore. Rikant, who was never able to finish his college education, now drives a Lamborghini worth Rs 4.22 crore.
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