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Single room to Rs 7k cr company! 3 Delhi brothers transformed India’s online travel landscape – Launched IPO in 2021 – Success Stories
Updated Aug 3, 2024 16:17 IST
Photo : ET Now Digital
Single room to Rs 7k cr company! 3 Delhi brothers transformed India’s online travel landscape – Launched IPO in 2021
Some 16 years ago, three brothers from Delhi – perhaps under the age of 20 – decided to start a company which would later become India’s second-largest online travel platform. The journey started from a small humble room which has now grown into a massive Rs 7000 crore company.
EaseMyTrip Co-founders
Today, all the three brothers are a co-founder in the online travel agency. Rikant is a B-Tech graduate from Kurukshetra University; Nishant serves as the founder and CEO; while Prashant completed his B.Tech in Electrical Engineering from IIT Madras in 2005 and serves as the co-founder.
“When I was 16, my brothers and I started a small travel business, driven by a big dream. By the time I was 20, with just $50,000, we transformed and created EaseMyTrip.com. We worked hard to understand what travelers needed and tried to change the travel scene with the best technology and services,” Rikant recalled in a LinkedIn post in September 2023.
“Now, I’m happy to say that EaseMyTrip is India’s 2nd biggest and most successful online travel company. This success is because of our amazing team, our never-give-up attitude, and how we faced and overcame challenges.”
While they started out of a small room, EaseMyTrip opened its first office in 2008 which was just 400sqft in size.
The Pittie brothers’ venture has grown from a bootstrapped startup to a profitable company with over 1,000 employees, 60,000 travel agents, and 20 million+ users. They launched an IPO in 2021 and today, EaseMyTrip has a market cap of Rs 7200 crore.
EaseMyTrip public issue was launched in March 2021 at a price band of Rs 186 to Rs 187 per equity share. The stock opened at a premium of near 13 per cent on March 19, 2021, listing at Rs 206 per share on the BSE while ay Rs 212 on NSE.
EaseMyTrip last week inaugurated its new office in Gurgaon with a beach and a temple theme, denoting the tourism landscape. “Started from a humble single room where my two brothers and I worked tirelessly day and night, we have come a long way,” said Rikant in a post on X.
Meanwhile, EaseMyTrip CEO Rikant on Tuesday said that FM Nirmala Sitharaman’s employment scheme announcement in Budget 2024 supports the government’s vision of employment and skill development for more than 10 million youth. “We commend PM Narendra Modi for his unwavering commitment to building a #ViksitBharat.”
EaseMyTrip will be hiring 500+ employees across India under the new employment scheme introduced by our Hon’ble Finance Minister in the 2025 budget.
End of article
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Virginia Is First State to Use Agentic AI for Regulatory Streamlining
Virginia is launching a pilot program that will use artificial intelligence (AI) agents to streamline regulations — the first such effort in the country — and reinforce the state’s standing as a friendly place to do business.
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UK switches on AI supercomputer that will help spot sick cows and skin cancer | Artificial intelligence (AI)
Britain’s new £225m national artificial intelligence supercomputer will be used to spot sick dairy cows in Somerset, improve the detection of skin cancer on brown skin and help create wearable AI assistants that could help riot police anticipate danger.
Scientists hope Isambard-AI – named after the 19th-century engineer of groundbreaking bridges and railways, Isambard Kingdom Brunel – will unleash a wave of AI-powered technological, medical and social breakthroughs by allowing academics and public bodies access to the kind of vast computing power previously the preserve of private tech companies.
The supercomputer was formally switched on in Bristol on Thursday by the secretary of state for science and technology, Peter Kyle, who said it gave the UK “the raw computational horsepower that will save lives, create jobs, and help us reach net zero-ambitions faster”.
The machine is fitted with 5,400 Nvidia “superchips” and sits inside a black metal cage topped with razor wire north of the city. It will consume almost £1m a month of mostly nuclear-powered electricity and will run 100,000 times faster than an average laptop.
Amid fierce international competition for computing power, it is the largest publicly acknowledged facility in the UK but will be the 11th fastest in the world behind those in the US, Japan, Germany, Italy, Finland and Switzerland. Elon Musk’s new xAI supercomputer in Tennessee already has 20 times its processing power, while Meta’s chief executive, Mark Zuckerberg, is planning a datacentre that “covers a significant part of the footprint of Manhattan”.
The investment is part of the government’s £2bn push to attain “AI sovereignty” so Britain does not have to rely on foreign processing chips to make AI-enabled research progress. But the switch-on could trigger new ethical dilemmas about how far AI should be allowed to steer policy on anything from the control of public protests to the breeding of animals.
One AI model under development by academics at the University of Bristol is an algorithm that learns from thousands of hours of footage on human motion, captured using wearable cameras. The idea is to try to predict how humans could move next. It could be applied to a wide range of scenarios, including enabling police to predict how crowds of protesters may behave, or predict accidents in an industrial setting such as a construction site.
Dima Damen, a professor of computer vision at the university, said based on patterns in the human behaviours a wearable camera was capturing in real time, the algorithm, trained by Isambard-AI, could even “give an early warning that in the next two minutes, something is likely to happen here”.
Damen added there were “huge ethical implications of AI” and it would be important to always know why a system made a decision.
“One of the fears of AI is that some people will own the technology and the knowhow and others won’t,” she said. “It’s our biggest duty as researchers to make sure that the data and the knowledge is available for everyone.”
Another AI model under development could detect early infections in cows. A herd in Somerset is being filmed around the clock to train a model to predict if an animal is in the early stages of mastitis, which affects milk production and is an animal welfare problem. The scientists at Bristol believe this could be possible based on detecting subtle shifts in cows’ social behaviour.
“The farmer obviously takes a great interest in their herd, but they don’t necessarily have the time to look at all of the cows in their herd continuously day in, day out, so the AI will be there to provide that view,” said Andrew Dowsey, a professor of health data science at the University of Bristol.
A third group of researchers are using the supercomputer to detect bias in the detection of skin cancer. James Pope, a senior lecturer in data science at the University of Bristol, has already run “quadrillions if not quintillions of computations” on Isambard to find that current phone apps to check moles and lesions for signs of cancer are performing better on lighter coloured skin. If confirmed with further testing, apps could be retuned to avoid bias.
“It would be quite difficult, and frankly impossible to do it with a traditional computer,” he said.
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Woman conned out of $15K after AI clones daughter’s voice
A Florida woman says she was conned out of $15,000 by a scammer who used artificial intelligence to replicate her daughter’s voice.
Sharon Brightwell, who lives outside of Tampa, told WFLA that she was targeted by scammers last Wednesday after receiving a call from a number that appeared to belong to her daughter, April Munroe. When she picked up, Brightwell heard her daughter’s hysterical voice claiming she had hit a pregnant woman with her car while texting and driving.
“There is nobody that could convince me that it was not [her voice],” Brightwell told WFLA. “I know my daughter’s cry, even though she’s an adult, I still know my daughter’s cry.”
Monroe was in Carrollwood, a nearby suburb at the time, she wrote on a GoFundMe page to help recoup her mother’s money.
“My voice was AI cloned and sounded exactly like me,” Monroe wrote. “After you hear your child in distress, all logic is out the window.”
A man then took the phone and claimed to be Monroe’s attorney. He told Brightwell he needed $15,000 cash to pay her bail. She couldn’t tell the bank what it was for or else her daughter’s credit would be affected, the man said.
“He says, ‘Can you do that?’ I said ‘Not really, but yes,’” Brightwell told WFLA. “I’ll do whatever I have to do for my daughter.”
Brightwell withdrew the money from her bank and put it inside a box, which she then gave to a driver who showed up at her house.
Soon after, Brightwell received another call from someone claiming to be a relative of the pregnant woman her daughter supposedly hit. They said the woman’s unborn baby had been killed in the wreck and they wanted $30,000 cash, or else they’d sue.
Monroe says her son was with Brightwell the whole time and was in “just as much panic and worry.” He realized it was a scam after Monroe texted him on her lunch break.
“Then it all came together,” Monroe wrote. “My mom and son were in absolute shock.”
Monroe immediately left to go be with her mother and son. Monroe’s son “hunched over to throw up” when he first saw her and realized she was safe, she said.
“To tell you the trauma that my mom and son went through that day makes me nauseous and has made me lose more faith in humanity,” Monroe wrote. “Evil is too nice a word for the kind of people that can do this.”
Brightwell and her family encourage people to take proactive steps to prevent scams, such as coming up with a “code word” to use in emergency situations, WFLA reports.
Monroe said she filed a police report, and an investigation is underway. The Independent has contacted the Hillsborough County Sheriff’s Department for comment.
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