Goibibo: Company Profile, Founding Team, Success Story, and Many More

Introduction:

Users of Goibibo’s online booking platform can search for and reserve flights (both domestic and international), hotels, vacation packages for local and international travel, and buses. In addition to the web platform, it provides a mobile application with the same set of services for booking trips. Provides a travel guide for Indian locales along with a variety of flight travel and vacation options.

Has been ranked top by Morgan Stanley in terms of hotel booking volume in January 2016. For the months of October through December 2015, there were reportedly 1.6 million hotel nights, a 400% YoY increase.

Goibibo is a component of the ibibo group, an online marketplace and E-commerce company that operates platforms for travel, payments, marketplaces, and auto classifieds. Naspers, a South African media behemoth that has made an investment of at least $10 million in ibibo, owns the ibibo group. Redbus.in, an online bus ticketing website, was purchased by Ibibo Group in 2013. launched a social network for travellers on its smartphone app, GoContacts, in June 2016.

Goibibo Company Highlights:

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

Goibibo About:

Goibibo is a well-known online travel agency whose key distinction is offering a seamless and dependable customer experience in terms of the speediest search and perfect booking experience, as well as quicker payments, settlement, or refund processes. Customers at Goibibo take use of a highly standardised stay experience at approved hotel properties provided to them by Gostay. Over time, Goibibo quickly overtook the competition as the top option for young, digital Indians.

The parent company of Goibibo, which is well-known to have Naspers’ support, is Ibibo Group. Great packages at affordable prices are Goibibo’s USP. Because of its inexpensive ticket rates, Goibibo reportedly has the greatest customer base out of all other market players. Additionally, Goibibo frequently ranks first for its mobile application and is the most popular booking engine.

Goibibo Industry:

Goibibo is the top online travel agency in India, offering customers a variety of options for lodging, transportation by bus, train, and air. The most dependable customer experience, whether in terms of the quickest search and booking, the quickest payments, settlement, or refund processes, is what sets them apart in terms of core values.

Customers of GoStays receive a standardised stay experience at approved hotel properties. GoIbibo is the top option for new India on the go thanks to its industry-first virtual travel booking currency GoCash and travel social network, GoCash+ Rewards.

Goibibo Founder & Team:

Ashish Kashyap, Deepak Tuli, Sanjay Bhasin, Vikalp Sahni, and Uma Shankar founded Goibibo. It was established in 2007.

Goibibo Founder (Image Source: techcircle.in)

Goibibo Founder (Image Source: yourstory.com)

Goibibo Founder (Image Source: Kopykitab.com)

Goibibo Founder (image Source: economictimes.indiatimes.com)

Goibibo Startup Story:

The creators of Goibibo became inspired when they observed the issues that were prevalent in the online travel sector. They started the airline company in this way, after which they expanded into the search and social media sectors. As customers, we perceived an issue when purchasing flights.

While the entire nation was discussing fintech and e-commerce in 2007, these great entrepreneurs were attempting to concentrate on more specific difficulties faced by consumers across all of these areas in order to develop an effective and faultless product/solution. And for that reason, in 2007, Goibibo was introduced.

It then changed into a travel and e-commerce company in 2009. Goibibo reportedly experienced growth of up to 200 percent in its first year of operation. In 2011, the platform experienced a growth of about 180%, and Goibibo became the first OTA to introduce rapid refunds to the market and the nation. Goibibo had only begun its growing years when its team grew to 25 people in 2012.

Additionally, the company successfully expanded its product offering in this year to include additional features including online rescheduling and foreign flights. To help its users travel in various forms, it launched the bus ticketing service in 2012, which was already shaping up to be a tremendous year in its history. The acquisition of RedBus by Goibibo for an estimated INR 600 crores came next.

Goibibo did not pause to applaud their successes in following years. To its diverse product lineup, it continued to offer new and improved features. It then introduced hotel reservations, which, based on the company’s current business model, generates a sizeable portion of Goibibo’s overall revenue.

2016 saw the announcement of an alliance between two well-known brands in the internet travel industry. Everyone was surprised, but both businesses worked to provide the greatest products possible to the customers.

Goibibo Mission & Vision:

Goibibo’s basic values serve as our compass in achieving their aim of making travel enjoyable and straightforward for everyone. These guiding principles are evident in the projects we take on and the ways in which we assist our clients in finding solutions to their difficulties. They serve as an example of “OUR BEING & OUR DOING”.

Goibibo Name & Logo:

When Goibibo first tweeted the hashtag “BekirGoKar” as a slogan, there was a spelling error in it. The company quickly corrected the spelling issue, though, and republished it as “BefikarGoKar.” Later, the phrase was updated with the original #GoTensionFree hashtag.

Goibibo Business Model:

How Goibibo makes hotels available at reasonable prices is tough to understand. Oyo Rooms, Ixigo, Yatra, and other services have existed, but Goibibo’s strategy is incomprehensible. If you book through Goibibo, you may stay at a four-star hotel for Rs 3500 inclusive of taxes, as opposed to paying up to Rs 6500 plus tax if you book through another channel.

Goibibo Revenue Model:

The MakeMyTrip-owned travel aggregator Goibibo India, with offices in Delhi NCR, reported an 11% growth in standalone revenue for the fiscal year 2020, which concluded in March of the previous year. In FY2020, the company made INR 1,595.2 Cr, or 99 percent of that amount via operations. Goibibo reported INR 1436.5 Cr in revenue for the year 2019.

Goibibo Revenue Model (Image Source: inc42.com)

Currently, Goibibo’s expected yearly income is $393.5M. $428,667 is the expected revenue per employee at Goibibo.

Goibibo Products & Services:

• Flight bookings from everywhere to anyplace – This component of Goibibo’s product suite aids in selecting the finest fare possibilities for customers due to the global destinations to and from everywhere in the world.
• Flight Advice is simply a search engine that assists users in locating results relevant to their individual search criteria. This covers elements like flight time, preferred route possibilities, and pricing ranges.

Goibibo Funding & Investors:

In a single investment round where Naspers was one of the investors, the Ibibo Group raised a total of $250 million. This particular venture capital round was raised on February 24, 2016.

Goibibo Employees:

• Goibibo has 918 Employees.
• Goibibo grew their employee count by -10% last year.

Goibibo Employees (Image Source: tech.goibibo.com)

Goibibo Challenges Faced:

The tech professionals at goibibo are working around the clock to improve the traveller experience. They are working to improve the whole hotel experience while offering a secure and frictionless means for individuals to move about in the modern world.

However, “digital check-ins” on the goibibo platform did not start in 2020 when the world was confronted with one of the greatest challenges. Rather, goibibo had already taken its first step towards paperless priority check-in through QR codes and pre-validation of ID proofs back in early 2018 – ending last-minute ID validations, the room allocation process, and the protracted line at the hotel reception.

Goibibo Acquisitions:

In order to increase market share, create complimentary synergies, and promote profitable growth in 2016, MakeMyTrip, a significant participant in India’s online travel booking business, made the decision to buy arch-rival Goibibo (GI). In the area of reserving upscale hotels online, MMT was a market leader.

Goibibo Growth:

• A network of offices was established, with locations in major Indian cities like Kolkata, Delhi, Mumbai, Bangalore, and Chennai.
• 400 airline partnerships.
• 52,000 routes are accessible.
• The smartphone app is used to make more than 50% of the reservations.
• On Facebook, it has 1.5 million fans.
• More than 10 million downloads of the applications have been made.
• More than $65 million is the annual turnover.

Goibibo Partners:

There is no details of it.

Goibibo Competitors:

Top rivals to Goibibo include:

• ClearTrip.
• Yatra.com.
• EaseMyTrip.
• MakeMyTrip (Though it is parent company).

Goibibo Awards & Achievements:

• The Best Website in the Online Travel & Leisure category was given to Goibibo in both 2014 and 2015.
• It supported the 2015 India’s No. 1 Brand Award in the Online Travel & Leisure category.
• Goibibo was recognised as the Best Tech Travel Aggregators Brand once more in 2015.
• In 2016, it supported Businessworld Golden Cart’s Silver category for travel and vacations.
• Additionally, Redbus, a subsidiary that was acquired by the company, has earned numerous accolades, including the Brand Excellence Award in the e-commerce industry, Most Trusted Brand (Online Travel Category), and 13th Most Trusted Internet Brand.

Goibibo Future Plan:

The field of online travel agencies is one that is rapidly developing, incorporating new technologies to make trip planning, research, and booking more simple and practical. The introduction of an app-first mindset by online travel agencies like Goibibo, which MakeMyTrip purchased in 2016, was one of the major shifts in this cutthroat industry.

The future of travel is currently being shaped by developments in artificial intelligence (AI) and data engineering. Conversational commerce, which blends conversational design and NLU, is a significant new development in the online travel industry (Natural language Understanding). The ability for customers to search for and book travel while speaking in their native tongues has the potential to bring significant value to all forms of travel-related activities.

The company’s major priorities include personalization, conversational commerce, and bringing AI out of the lab to create customer-focused solutions. Whether it’s seat selection and seamless delivery of hotel vouchers on chat apps of people’s choosing, or chatbots like Gia on Goibibo that have cut in-person support ticket handling by more than 25% on the platform, tech is at the core of its client acquisition and retention strategy.

It has created a conversation-based software using conversational commerce and AI that is aimed at the next 100 million internet users, most of whom use low-cost cellphones and are still very new to the online. The new app, which is now in its testing phase, would enable users to communicate in their native tongue.

FAQs about Goibibo:

What does Goibibo do?

Travelers can choose from a variety of hotels, flights, trains, buses, and vehicles with Goibibo, the top online travel agency in India. Mobile and hotels are fueling Goibibo.com’s explosive expansion. In India, Goibibo receives the most hotel reservations. In all regards, it is also the platform that hotel owners favour.

When was Goibibo founded?

It was established in 2007.

Who is the founder of Goibibo Corporation?

Ashish Kashyap, Deepak Tuli, Sanjay Bhasin, Vikalp Sahni, and Uma Shankar were the founders.

Who is the CEO of Goibibo Corporation?

The CEO is Sanjay Bhasin.

Who are the main competitors of Goibibo?

The top competitors for Goibibo are:

• ClearTrip.
• Yatra.com.
• EaseMyTrip.
• MakeMyTrip (Though it is parent company).

What are the services provided by Goibibo?

For Pay@Hotel bookings, the booking is confirmed and you need to pay directly to the hotelier.

• OUR PRODUCTS.
• Domestic Hotels.
• Domestic Flights.
• Multi-City Flights.
• Bus Booking.
• Airport Cabs Booking.
• Outstation Cabs Booking.
• Train Booking.

Why Goibibo is not working?

Probably the server is overloaded, down or unreachable because of a network problem, outage or a website maintenance is in progress… Having Problems with Accessing Goibibo.com?

What is confirmed on Goibibo?

While booking a wait-listed train ticket on the Goibibo website/app, you can opt for ‘goConfirmed Trip’. If your wait-listed ticket is not confirmed at the time of chart preparation, we will refund you 2X the ticket fare.

What is the service fee of Goibibo?

Goibibo charges a non-refundable per passenger convenience fee of Rs. 279/- for oneway flights and Rs. 429/- for roundtrip flights, however, it may vary for few sectors/airlines. Minimum 2 passengers will be required in the PNR after cancellation in case booked under family fare.

What is free cancellation in Goibibo?

While Booking your flight ticket, select ‘Cancellation Protection’ option and pay a nominal cancellation premium and enjoy ZERO penalty in case you wish to cancel the booking.

Conclusion:

The functioning of the internet travel sector is currently being Goibibo disrupted on several levels, and this tendency will only grow in the coming years. Recent innovations like artificial intelligence (AI), machine learning, and blockchain hold great promise for streamlining online travel booking processes and improving the client experience.

And today, a significant development that will influence travel’s future is the development of data engineering and artificial intelligence. By incorporating artificial intelligence into online search and booking, today’s travel and hospitality businesses are providing genuine additional value. The sector is moving toward an AI-first strategy and emphasising “relevance” in order to develop capabilities for data-driven personalisation.