What runs through the mind of a chief executive officer when his company’s revenue drops by over 95% in a matter of days? “I guess, I have not experienced a worse disaster in my work life so far,” says Rajesh Magow, the co-founder and group CEO of MakeMyTrip (MMT), who had found himself in that situation last year. Between April and June 2020, MMT, one of the world’s largest travel booking apps, saw its total revenue drop 95.5%—from $141.7 million in the same period a year ago to $6.36 million.
Remaking Of MakeMyTrip
The pandemic eroded almost all of MakeMyTrip’s business. But the country’s largest travel booking app made a quick comeback and also consolidated the industry to manage travel better. Rajesh Magow, its co-founder and group CEO, talks about what the future looks like for the company