Goibibo - India's Most Popular Online Travel Booking Portal

Goibibo - India's Most Popular Online Travel Booking Portal
Goibibo - India's Most Popular Online Travel Booking Portal

Online travel booking became a sensation with the advent of smartphones and digitization. In the same segment where Cleartrip and MakeMyTrip were already predominantly present, Goibibo disrupted the travel segment by providing a seamless travel experience in 2007. Goibibo was founded by Ashish Kashyap, Deepak Tuli, Sanjay Bhasin, Vikalp Sahni, and Uma Shankar. Goibibo made travel booking flexible and easier with just a click.

Goibibo - Company Highlights

Company Name Goibibo
Headquarters Gurugram, Haryana
Industry Travel, Tourism
Founder Ashish Kashyap, Deepak Tuli, Sanjay Bhasin, Vikalp Sahni, and Uma Shankar
Founded 2007
Website goibibo.com

Goibibo - About and how it works
Goibibo - Founders and Team
Goibibo - Logo
Goibibo - The Idea and Launch
Goibibo - Startup Story
Goibibo - Merger with MakeMyTrip
Goibibo - Competitors
Goibibo - Funding and Investors
Goibibo - Growth
Goibibo - Investment
Goibibo - Acquistion
Goibibo - Awards and Recognition

Goibibo - About and How it Works

Goibibo, as we know, is an online booking portal whose core differentiator is providing a seamless and trusted user experience in terms of the quickest search and flawless booking experience, faster payments, settlements, and refund processes.

At Goibibo, customers enjoy a supremely standardized stay experience at certified hotel properties, which are brought to them by Gostay. Over time, Goibibo rapidly became the number one choice for digital and millennial India. How? By introducing and incorporating the travel industry’s first virtual travel booking currency, named GoCash, and travel social network, GoCash+ Rewards! This portal is better known for offering various deals and incentives to its customers. For example, INR 2000 cashback if booked via Goibibo coupons or a 60% discount on domestic air tickets with coupons

Ibibo Group is the parent organization of Goibibo which is known to be backed by Naspers. The USP of Goibibo is great packages at minimal fares. Apparently, Goibibo has the largest consumer base among all other market players because of its affordable ticket prices. Also, Goibibo is the most sought-after booking engine and has been consistently ranked at number one for its mobile application.

Goibibo has two supreme product features namely:

  • Anywhere to Anywhere flight bookings - This feature in Goibibo's product kit helps in curating the best fare options for consumers due to the international destinations to and from anywhere in the world.
  • Flight Advice - This one is essentially a search engine that helps users find results relating to their personal choice. This includes parameters such as price options, preferred destination routes, and the duration of a flight.

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Goibibo - Founders and Team

Ashish Kashyap - Co-Founder of Goibibo
Ashish Kashyap - Co-Founder of Goibibo

The Goibibo founders are Ashish Kashyap, Deepak Tuli, Sanjay Bhasin, Vikalp Sahni, and Uma Shankar.

  • Ashish Kashyap - Prior to co-founding Goibibo, Ashish was the ‘Country Head’ for Google India. And before working with Google, he founded his first e-commerce and online travel business at Indiatimes.com and successfully pulled them into a profitable position.
  • Deepak Tuli - Deepak Tuli is one of the co-founders of Goibibo.com. He has over 10 years of experience in the e-commerce sector. Deepak has gained professional expertise in mobile platforms like Android, IOS, Windows, HTML5 with advanced training in Digital Marketing, Product Management, P&L management, and CRM. This won’t come as a surprise to anyone, but Deepak has built multiple online businesses and business units in the country. Before launching his current venture, Goibibo, this Naspers Harvard Program graduate was a part of the Yatra.com launch team.
  • Sanjay Bhasin- Sanjay Bhasin has been creatively instrumental in launching a number of successful ventures across the media industry. He took a degree in economics but was not satisfied with it, so he went on to pursue a management degree to learn practical theories and tools for business applications. He has been a media person throughout his career.
  • Vikalp Sahni - With a BTech from the National Institute of Technology, Vikalp was working as a co-founder and CTO at Goibibo.com. Prior to this, he was working as a software engineer at IBM.
  • Uma Shankar - Shankar has extensive experience in Product Interface Standards and Online Application Style Guides. He handles UX design at Goibibo.com. He works closely with project managers, to create flow mockups for User Experience and prototypes for proposed designs in continuous interaction and feedback from the client. Shankar, with a graduate degree from Madras University, has deeply worked with engineers and product managers on the details of interfaces to achieve maximum usability.
Goibibo Logo
Goibibo Logo

The Goibibo logo is a rather straightforward design that only uses one rectangle as its main component. Orange and blue are the two distinct hues that make up the Goibibo emblem.

Goibibo - The Idea and Launch

The idea for Goibibo was germinated when the founders looked at the problems that were predominant in the online travel industry. And that’s how they entered the search and social segments and ended up starting the flight business. “As a consumer, we felt there was a problem while booking flights.” Added Ashish Kashyap.

“It’s all about focusing on a problem. If you see that there is a problem, however small it is, and try to solve it — there itself is an opportunity.” Said Ashish Kashyap.

Back then, in 2007, while the whole country was talking about the fintech and e-commerce space, these brilliant entrepreneurial minds were trying to focus on the more specific problems of the consumers running through all these segments to create an efficient and flawless product or solution. And that is the reason Goibibo was launched in 2007.

Goibibo - Startup Story

You’d be surprised to know this, but Ibibo was initially a social networking service. This was back in 2007. Later, in 2009, it transformed into an e-commerce and travel organization. According to some reports, Goibibo grew up to 200% in its first year of inception.

“We had started Goibibo as an experiment with only a $50k seed capital but over the years we have built a successful OTA business,” said Ashish Kashyap.

Then came 2011, when the platform grew by about 180%, and in the same year, Goibibo became the first OTA to launch instant refunds in the sector and in the country. The growth years had just started for Goibibo, and in 2012, its team size grew to 25 members. Also, it is in this year that the venture successfully added new features like online rescheduling and international flights to its existing product mix. 2012 was turning to be a great year in its history, and that’s also when it launched the bus booking facility to aid travel in all forms for its users. This was followed by Goibibo acquiring RedBus for an estimated INR 600 crore.

In the later years, Goibibo didn't stop and clap at their achievements. It further went on to add new and upgraded features to its versatile product mix. Following this, it launched hotel bookings, which contribute significant revenues for Goibibo according to the current structure.

“We started off like every other company by investing in Google search ads to ensure customers start transacting. We were fortunate enough to have been solving the right problem for our customers, as within 2 months we were able to reach the 1000 customer mark.” Added Ashish Kashyap.

Soon enough, by launching amazing features like GoCash and anywhere, anytime flights accompanied by great technology, Goibibo became an end-to-end solution provider rather than just the middleman. The focus then shifted on building products that would create superior value at both ends of the spectrum. The demand side, which are the consumers who are buying flights, and the supply side, which are the hoteliers and bus operators who are catering to these customers, The team has been leveraging the network effects between customers, bus operators, and the business entity on a one-to-one basis to grow the business.

Goibibo - Merger with MakeMyTrip

In 2016, two of the big names in the online travel sector announced an association. It came as a shock to everyone, but together, both ventures went to bring the best to the consumers. This merger solved a lot of loopholes, like:

  • Flight bookings were tremendously slow and a tedious process, and would you believe that it took almost a minute for a page to load? Hence, this merger focused on building the key differentiation of being the fastest flight booking site in the country.
  • The merger also focused on all the small changes that made big differences for the customer. Together, both ventures focused on achieving optimum reliability, offering the best product mix with the right price and the right selection.
  • One other creative hack that the merger brought in was the creation of an algorithm that offered flights that were cheaper but of a comparatively longer duration. Hence, if the customers are looking for a better price, they were given an additional option. These series of innovative hacks in regards to the price and selection modules helped Goibibo build a strong differentiator against others in the game.

Goibibo - Competitors

As we have demonstrated, Goibibo entered the market when there were already predominant players in the market. Hence, it would come as a surprise that Goibibo faces stiff competition from several rival companies. To counter that, it adopted a competitive pricing policy to attract and retain its customer base.

The top competitors for Goibibo are:

Also, MakeMyTrip also was a massive competition for Goibibo before the merger.

Goibibo - Funding and Investors

The Ibibo Group has raised a total of $250 million in just one funding round, where the investors were Naspers. This particular venture round was raised on February 24, 2016.

Goibibo - Growth

  • Established a network of several offices located across Indian cities like Kolkata, Delhi, Mumbai, Bangalore, and Chennai.
  • Tie-ups with 400 airlines
  • Access to 52,000 Routes
  • More than 50% of the bookings are done through the mobile application
  • 1.5 million users on its Facebook page
  • The applications have been downloaded more than 10 million times
  • Annual turnover stands at more than $65 million

Goibibo - Investment

Goibibo made an investment in Tek Travels on April 27, 2012. The headquarter of Tek Travels, an Indian leisure, travel, and tourism firm, is located in Gurugram, Haryana.

Goibibo - Acquistion

Goibibio has acquired two companies to date. The last acquisition was on March 19, 2014, of Yourbus for an undisclosed amount. In February 2011, the company acquired Gaadiweb for an undisclosed amount.

Goibibo - Awards and Recognition

  • For both the years 2014 and 2015, Goibibo was awarded the Best Website in the category of Online Travel and Leisure
  • In 2015, it backed the award for India's No.1 1 brand in the category of Online Travel and Leisure
  • Again in 2015, Best Tech Travel Aggregators Brand was awarded to Goibibo
  • In 2016, it backed the Silver category of Travel and Holidays by Businessworld Golden Cart
  • Also, as an acquired subsidiary, Redbus has won many awards, like the Brand Excellence Award in the e-commerce sector, the Most Trusted Brand (Online Travel Category), and the 13th Most Trusted Internet Brand.

Goibibo - FAQs

Is Goibibo owned by MakeMyTrip?

It is a subsidiary of MakeMyTrip (MMT) Limited, which owns a 100% stake in Ibibo Group.

Is Goibibo an Indian Company?

Yes, it is India's leading online travel booking platform.

Who is the CEO of Goibibo?

Sanjay Bhasin is the Chief Executive Officer at Goibibo.com

Which is the parent organization of Goibibo?

MakeMyTrip, an online travel services provider that includes flight tickets, domestic and international holiday packages, hotel reservations, rail, and bus tickets.

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