Cleartrip Travel Services Pvt Ltd, which runs the online travel booking site Cleartrip.com, is one of the top Indian OTAs and has attracted over $70 million in funding from various investors including Concur Technologies, Kleiner Perkins Caufield & Byers, Sherpalo Ventures, Draper Fisher Jurvetson and DAG Ventures. The firm claims to be doing gross bookings of around Rs 300 crore a month. In this interaction with Techcircle.in, Stuart Crighton, co-founder and CEO of Cleartrip, talks about the business, the marketing plan, views on consolidation in the market, interest in bus ticketing and more.
The OTA market appears to have matured in India with almost half a dozen large firms. Where do you see the market going forward and is it time for consolidation with small players shutting shop?
I don’t actually believe that the market in India is mature, there is a lot of activity going on and it is a pretty nascent market in that sense. I think the domestic air market is relatively growing and maturing, but with regard to the other offerings it is still very nascent. There is tremendous opportunity both from a growth perspective and a consumer perspective.
Parabo Press is a breeze to use: It’s clean and easy to read, your options are straightforward, and there are no annoying upsells. Prints from its Risograph machine, which uses soy-based ink and is described by Parabo as having “a cult following since its invention in 1980s Japan.”
“We are creating solutions specifically for the Indian rental community. For Aibnb, we are creating a separate set of packages, more attuned towards travellers, which will allow the hosts to pick and choose from these packages and furnish their house,” Ajith Karimpana
The Make in India programme needs design, in order to succeed in its fundamental endeavour. Melorra has integrated design and manufacturing with processes, people working in manufacturing are involved in product design concepts as a result delivery times are almost half those of competitors.
Red Chillies Entertainment partnered with Furlenco for its forthcoming Shah Rukh Khan and Alia Bhatt starrer ‘Dear Zindagi’. Furlenco and Red Chillies have also launched a TVC and an exclusive ‘Dear Zindagi’ store for the movie buffs.
Sub-cultures drive the products that emerge out of tech startups. Sub-cultures push the envelope on thinking about how society might develop. The ones that interest investors are those with the potential to indicate where the world could go next.
It is a combination of 50% equity and 50% debt, making them one of the largest debt funded start-ups in India. While Furlenco plans to utilise the equity component to grow its business into more cities, the debt will be used to purchase inventory.
Droom has clocked a GMV of Rs 104 crore in a short span of 19 months. They have registered over Rs 1,200 crore in annualised GMV, with plans to achieve Rs 3,000 crore by March 2017. The achievement has come despite low marketing spends at 3.75 per cent of the entire GMV.