Entrepreneurship, a dynamic realm where vision and determination converge, finds a compelling embodiment in Rikant Pittie. From an inquisitive teenager to a significant figure in India’s travel industry, Rikant’s journey radiates inspiration. This listicle delves into the milestones, challenges, and insights that have forged his remarkable path, offering a trove of wisdom for aspiring entrepreneurs.
1. A Curious Teenager: Born in 1988, Rikant Pittie’s fascination with the travel industry ignited early. Observing his father, a frequent traveler, being overcharged by travel agents, sparked Rikant’s curiosity, leading him to chart his course.
2. The Humble Beginning: Rikant commenced by booking tickets for his father and soon extended this service to family and friends. This journey gave birth to a small travel agency, originally named Duke Travels. While being into the business and closely examining the industry, Rikant understood the shortcomings and went about developing a ground-breaking technology along with his two brothers – Nishant Pitti and Prashant Pitti which is now established into EaseMyTrip.
3. EaseMyTrip’s Takeoff: Securing an IATA license in 2008 granted EaseMyTrip direct access to airlines. Initially, the company focused on B2B services, aiding travel agents and fortifying their technological backbone. The advent of Air Deccan breathed life into their enterprise, and they expanded their network to ensure its vitality.
4. A Customer-Centric Shift: In 2011, EaseMyTrip transitioned towards customer-centricity. Eliminating convenience fees and embracing transparent pricing, they won the trust of their customers, achieving an impressive 86% retention rate majorly through word of mouth. They distinguished themselves with a reputation for transparency, emerging as India’s sole profitable online travel agent.
5. The Beginning of an Exciting Chapter – In 2021, EaseMyTrip became the first Indian OTA to be listed on Indian Stock Exchanges, being completely bootstrapped until IPO. In the same year, EaseMyTrip attained its Unicorn stature and crossed $1 billion. Today, EaseMyTrip has more than 20 million direct customers and from the last two years, the company has grown at a CAGR of 59% in profits.
6. Young and Bright Entrepreneur: Recognized in Fortune India’s 40 Under 40 list for 2022, Rikant Pittie shines as one of India’s youngest and most promising entrepreneurs. His innovative concepts have revolutionized the online travel sector, earning him accolades like ‘Entrepreneur of the Year in Service Business (Travel)’ from Entrepreneur India, ‘Best Travel Planner of the Year,’ and ‘Bootstrapped Entrepreneur of the Year’ from Hurun India.
7. An Inspiration for Aspiring Entrepreneurs: Rikant Pittie’s journey stands as a beacon of innovation and hard work, offering a powerful inspiration for budding entrepreneurs charting their path to success.
In summation, Rikant Pittie’s narrative mirrors the quintessence of entrepreneurial spirit. It’s a saga steeped in curiosity, commitment, and unwavering determination, making him a trailblazer in the travel industry.