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Power Law company profile

Cleartrip

eCommerce & Marketplaces · Bengaluru, India · Founded 2006

Cleartrip, an online travel aggregator, was established in 2006 by Hrush Bhatt, Matthew Spacie, and Stuart Crighton. The company originated to address the complexities and lack of transparency in the Indian travel market, aiming to provide a straightforward and user-friendly platform for booking flights, hotels, and other travel services. The founders brought diverse experiences to the venture; Stuart Crighton, for instance, had a background in the financial industry with companies like Merrill Lynch and Donaldson, Lufkin & Jenrette, which provided a strong foundation for the company's strategic direction. Cleartrip operates as a comprehensive online travel agency (OTA), catering to individual travelers and corporate clients primarily in India and the Middle East. Its business model is centered on earning commissions from travel suppliers, such as airlines and hotels, for bookings made through its platform. The company also generates revenue from convenience fees charged to customers for the booking service. Cleartrip's platform is designed for simplicity, allowing users to search, compare, and book flights, hotels, and experiences with a clean and uncluttered interface. A key milestone in the company's history was its acquisition by Flipkart, a major Indian e-commerce company, in a deal announced in April 2021. This transaction was a distress sale for Cleartrip, which was significantly impacted by the COVID-19 pandemic's effect on the travel industry. Post-acquisition, Cleartrip continues to operate as a separate brand, leveraging Flipkart's large customer base to expand its reach. Later, in a move to strengthen its international presence, Cleartrip sold its Middle East business to Wego, a competing travel metasearch engine, while retaining a minority stake. This strategic decision allowed Cleartrip to focus more intensely on the Indian market. Keywords: online travel agency, flight booking, hotel reservation, travel aggregation, Indian travel market, e-commerce, travel booking platform, Middle East travel, corporate travel, OTA