Cleartrip, an online travel aggregator owned by Flipkart, has unveiled a new product named "Out of Office" (OOO), signaling its entry into the corporate travel arena. OOO is tailored for enterprises of all sizes, ranging from small businesses to large corporations.
According to Cleartrip, OOO has already attracted around 300 SMEs and boasts active transactions from 10 major corporations, managing a monthly business volume of INR 20 Cr. This move underscores Cleartrip's strategic push to expand its B2B footprint and tap into the corporate travel market.
OOO offers a seamless, plug-and-play solution that swiftly adapts to the unique requirements of different organizations. It supports various booking behaviors, including self-booking and travel desk booking, and can manage multiple entities within a single instance. Among its initial adopters are prominent companies such as The Federal Bank, Sify Technologies, MGM Healthcare, Sterlite Power Transmission Ltd, and ACC Limited.
Ayyappan R, CEO of Cleartrip, emphasized that OOO provides an end-to-end travel experience, prioritizing user-centric interface, policy adherence, and cost-effectiveness within a comprehensive package. He believes OOO not only addresses the current surge in demand but also transforms how businesses approach corporate travel.
Established in 2006 by Hrush Bhatt, Matthew Spacie, and Stuart Crighton, Cleartrip initially focused on enabling users to book flight tickets and hotels. Following its acquisition by Walmart-owned Flipkart in 2021 for $40 Mn, Cleartrip has expanded its offerings to compete with leading players in the online travel aggregation sector such as Ixigo, EaseMyTrip, MakeMyTrip, and Ibibo.
Despite its growth trajectory, Cleartrip reported a nearly 2X increase in net loss for the financial year ending March 31, 2023. Its net loss surged by 90% to INR 676.5 Cr in FY23 from INR 356.5 Cr in the preceding financial year.