The travel and tourism sector has always been a dynamic and evolving industry. In recent years, India has witnessed a significant surge in both domestic and international travel. With the digital revolution, online travel bookings have become the norm, capturing a significant market share. Among the many Online Travel Agencies (OTAs) that have emerged, HappyEasyGo is a name that’s making waves.
Established in Gurugram in 2017, HappyEasyGo began its journey by offering flight bookings for both domestic and international destinations. Founded by Boris Zha, the company soon expanded its services to include hotel bookings across India. Their user-friendly mobile application and website have made them a favorite among travelers, offering easy cancellation and rescheduling options that ensure savings on travel packages.
The Brains Behind HappyEasyGo
Boris Zha, a Singaporean entrepreneur, is the driving force behind HappyEasyGo. Before diving into the online travel sector, Boris had made significant contributions to the education sector. He was a founding member of Sakura International Japanese and served as the CIO of Neworld Education Group. Additionally, Boris founded Lvbanx.com in 2012, which has now become one of China’s leading B2B OTAs.
Vivek Prabhakar, a Harvard Business School alumnus and a graduate of Jawahar Lal Nehru University, is the co-founder of HappyEasyGo. Before joining hands with Boris, Vivek had founded the VINI Group.
The company’s leadership also includes three main directors: Rajesh Kumar Dathik, Zhou Lei, and YanqiuZha. With a team of 500-1000 employees, as per LinkedIn, HappyEasyGo is poised for continued growth.
HappyEasyGo’s Impressive Growth
In a relatively short period, HappyEasyGo has carved a niche for itself in India’s online travel market. Boasting a user base of over 10 million, the company reported around 25,000 daily air ticket transactions and over 1,000 daily hotel bookings in 2019. With an estimated annual revenue of $3 million, as per Owler, the company’s growth trajectory is commendable.
Revenue Streams of HappyEasyGo
HappyEasyGo, like other OTAs, has multiple revenue streams:
Commission: A significant portion of their revenue comes from commissions earned on flight and hotel bookings made through their platform.
Advertising: Hotels can advertise on their platform, providing another source of income.
Partnerships: HappyEasyGo collaborates with banks and financial institutions to offer travel insurance and other services. For instance, their tie-up with MobiKwik allows customers to avail offers, and in turn, HappyEasyGo earns a commission.
Facing the Competition
While the online travel industry is crowded with giants like MakeMyTrip, Yatra, Cleartrip, Ixigo, and Paytm, HappyEasyGo has managed to stand out. In 2018, just a year after its inception, the company surpassed Paytm’s monthly flight ticket bookings. HappyEasyGo recorded between 180,000 to 200,000 bookings, while Paytm lagged behind with 100,000 to 120,000 bookings. This achievement is noteworthy, especially considering Paytm had been in the travel business since 2014.
Looking Ahead: HappyEasyGo’s Vision
HappyEasyGo has ambitious plans for the future. They aim to expand their hotel booking services across India and increase their share in the air ticketing market. Committed to offering the lowest prices, they are partnering with renowned brands to enhance their service offerings.
In light of the ongoing pandemic, HappyEasyGo has shown resilience and adaptability. They are allowing customers to reschedule their travel without any additional fees. Moreover, they’ve partnered with healthcare brands like 1mg, Medlife, and Himalaya to offer discount coupons to their customers.
Boris Zha envisions HappyEasyGo as India’s top online travel aggregator. With a target of 3,000 hotel bookings a day, the company is on a mission to redefine the travel booking experience for Indians.
In conclusion, HappyEasyGo’s journey in the online travel industry is a testament to its commitment, innovation, and customer-centric approach. As they continue to grow and evolve, they are set to become a dominant player in India’s travel landscape.