EaseMyTrip co-founder Prashant Pitti describes the company's revenue breakdown between B2C and B2B travel agency business.
Assertion Not checkable as stated
Pitti: VC money dried up in travel because funded startups failed to deliver returns
“See, eventually one day for, I can speak for my industry, my travel industry, the money has dried up. The VC money has dried up just because none of the players have successfully delivered the value. To the VCs, to the PEs, to the banks.”
Opinion
Pitti: IIT Graduates Are More Risk-Averse Than NIT and BITS Peers
“Most of the IITians are actually risk adverse people. I mean, we studied way too hard to get into IIT, right? So, and I value people from bits. I value people from NITs because they didn't study that hard. They're not that risk adverse people. They didn't stud…”
Prediction Not checkable as stated
Pitti: VC funding will dry up for commoditized internet sectors over the next decade
“For the next decade, I'm seeing that the same thing will happen for a lot of internet companies, which are almost commoditized in nature.”
Assertion Supported
Pitti: EaseMyTrip stayed profitable without convenience fees while rivals lost money
“Our unit economics is so strong that even, even pandemic could not you know, we are so resilient that even pandemic could not make us a loss making company. That, that I think is the biggest mode, and because we are so, so robust, we are so capital efficient, …”
Assertion Supported
EaseMyTrip: Zero convenience fees since 2011 drove company growth
“In year, 2011, when we opened up ourselves to regular consumers, We didn't just, we didn't charge conveniences when we, and we still stick back to that policy and because of which the company has grown to where it is.”
Prediction Didn’t hold up
EaseMyTrip aims to become India's largest travel portal within two years
“We are the second largest travel portal right now. And in the next couple of years, we are looking forward to change the status again.”