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Main article: Expedia

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Topics from 1 to 10 | in all: 34

Relocating Indonesian capital will impact nation’s startup ecosystem

02:13 | 9 November

Hugh Harsono Contributor
Hugh Harsono is a former financial analyst currently serving as a U.S. Army officer.

Recently reelected, Indonesian President Joko Widodo announced a desire to move the nation’s capital from Jakarta to the East Kalimantan region, citing environmental concerns, the most exigent of these being the fact that Jakarta is literally sinking due to the uncontrolled extraction of groundwater. Widodo said he wished to separate Indonesia’s government from its business and economic hub in Jakarta.

However, what would a move from Jakarta do to Indonesia’s burgeoning startup economy?

Shifting administrative governmental hubs

According to Widodo, studies have determined that the best site for the proposed new capital is between North Penajam Paser and Kutai Kertanegara, both located in East Kalimantan. The basis of this selection is due to studies highlighting the region’s relative protection from natural disasters, especially when compared to other regions. This would definitely be a benefit for the governmental heart of Indonesia, ensuring continuous administrative functions in a disaster-prone region. Other governments have separated administrative centers from their economic hubs with varying degrees of success, with some examples being Brazil’s creation of Brasília, as well as Korea’s projected move from Seoul to Sejong.

What is most interesting to note from prior examples is that these newer branched-out cities are non-surprisingly, heavily government-centric. In Brasília, roles tied to the government make up nearly 40% of all jobs, while in Sejong, a lack of facilities like public transit and commercial mall space cause many to commute into Sejong for government work, instead of permanently settling in the area. Given the semi-undeveloped nature of East Kalimantan, these anecdotes are quite troubling if the government is actually moving to North Penajam Paser or Kutai Kertanegara.

These facts raise the question of economic impacts of such governmental moves. In fact, one may even opine that while these moves do allow for governmental growth, ultimately, they may hurt the country economically due to a divestment between both government and economic hubs. In this specific instance, it is most important to analyze the impact of such a move on Indonesia’s startup economy, as the nation is one the world’s leaders in startup growth.

Indonesia’s startup economy

Indonesia has emerged as a startup hub within Southeast Asia in recent years, with its population of over 260 million marking it as the world’s fourth-most populous country. Additionally, Indonesia’s mobile-first population has enabled the full embrace of the internet era, with 95% of all internet users in Indonesia connected to the web via a mobile device.

Similarly, startup growth has boomed in the island archipelago, with several Indonesian-based unicorns disrupting local, regional, and global economies. Softbank-backed ecommerce giant Tokopedia is currently in talks for a pre-IPO funding round, while emerging super-app Gojek controls significant portions of the ride-sharing industry in Asia, simultaneously expanding into separate industries to include digital payments, food delivery, and even video-streaming. Additionally, online travel portal Traveloka (in which Expedia has a minority stake) has recently entered the financial services space, furthering its impact within Asia. These specific examples of high-growth startups demonstrate a population hungry for innovation, further driving the developing startup economy.

 


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Doctours offers packaged medical tourism for U.S. customers

02:26 | 10 July

Doctours, a Los Angeles-based online platform for booking trips and treatments for medical and dental care around the world, is expanding its services to 35 countries.

Founded by serial travel entrepreneur Katelyn O’Shaughnessy, whose last company TripScope was acquired by Travefy, Doctours aims to connect patients with doctors to receive access to quality, affordable healthcare around the world.

The cost of care in the U.S. continues to climb, leading patients with few options but to travel to the best facilities offering the lowest cost care. Some companies that provide insurance benefits to their employees, like Walmart, are opting to pay for better care upfront by transporting their workers to facilities to receive appropriate care, rather than pay later for shoddy treatment.

Doctours sort of expands that thesis in an international context.

“When it comes to medical and dental treatment, there is no longer any reason to limit ourselves based on where we live,” said O’Shaughnessy, in a statement. “There is an increasingly advantageous global marketplace available with highly trained practitioners offering quality healthcare solutions at affordable prices and, although medical and dental tourism is a safe and cost-efficient solution, the current market is extremely fragmented and challenging to navigate. Doctours eliminates this fragmentation and allows anyone to easily and affordably access international medical and dental treatments and procedures.”

Katelyn Headshot 2

Katelyn O’Shaughnessy, founder, Doctours

The company, which is backed by investors including investors in Doctours include the former CEO of Expedia, Erik Blachford, Texas billionaire and CEO of multi-strategy holding company, Cathexis, William Harrison, and Charles Cogliando of Mosaic Advisors, offers more than 330 different medical and dental procedures and has a global service area that includes Mexico, Colombia, the Caribbean, Thailand, Dubai, Brazil, Germany and Costa Rica. 

Currently working out of Quake Capital’s Austin incubator, the company helps patients search for and compare the cost of procedures, connect with doctors and book everything from in vitro fertilization to stem cell therapy, cosmetic and reparative plastic . surgery, weight loss surgery, dental work and Lasik. 

Once the procedure is booked, Doctours puts together itineraries that provide different options for flights and hotels based on the needs of the patient,  the company said.

The company also offers specialized medical tourism insurance to all of its customers, according to O’Shaughnessy. And the company vets its doctors by ensuring that they are Joint Commission International accredited physicians. Roughly 70% of the company’s doctors were trained at universities and medical schools in Europe or the U.S., O’Shaughnessy wrote in an email.

Doctours is certainly entering a lucrative market. Medical and dental tourism is a $439 billion global market growing at a rate of 25% per year, according to data provided by Doctours. In 2018 alone, 14 million patients traveled abroad to seek healthcare, according to the company.

 


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GuestReady raises $6M to help hosts on Airbnb and other services manage their property

07:16 | 18 June

GuestReady, a three-year-old service that lets shared-economy hosts manage their business on Airbnb and other rental sites, has announced a $6 million Series A round.

The investment was led by existing backer Impulse VC — the Russian fund that is backed by billionaire Chelsea FC owner Roman Abramovich — and new addition VentureSouq from Dubai. Other past backers also took part, including Boost Heroes, Aria Group and 808 Tech Ventures. GuestReady raised $3 million in 2017 and this round takes it to nearly $10 million from investors to date.

GuestReady’s property management platform helps owners manage the intricacies of operating a shared-economy house, such as cleaning, laundry, and check-in and out services. It claims to cover over 2,000 properties across six countries: the UK, France, Portugal, UAE, Malaysia, and Hong Kong. Airbnb is the obvious platform to work with, but a sizeable volume of business comes from Expedia’s HomeAway business and Booking.com, GuestReady CEO Alexander Limpert told TechCrunch in an interview.

Limpert added that GuestReady’s annual booking volume is close to reaching $50 million on an annualized basis. Over the last year, the company’s take-home revenue has tripled with a lower burn rate, he added, although he declined to provide specific figures.

The GuestReady Team

That growth has come courtesy of a series of M&A deals.

Indeed, this new infusion of cash comes months after the company completed its fourth acquisition to date, snapping up France-based rival BnbLord, a startup that it claims is the largest Airbnb host platform in France and Portugal.

That deal, which Limpert said is the company’s largest to date, was a “strategic play to become the market leader in Europe” — and it could be followed by others.

The GuestReady CEO said the company is engaged in “quite a few conversations right now” over potential acquisitions, with this new capital potentially fuelling those moves.

“We believe the market [for guest services] will consolidate,” he said, explaining that many young companies start out with promise but struggle to scale successfully once they hit 50-100 properties under management.

“They realize this is an intensive business without good processes and technology,” he added.

Still, the company is likely to retain the focus on its current markets with the potential to add “one or two” new cities further down the line.

“For now, we’re seeing so much potential in our current markets,” explained Limpert. “London and Paris are two of Airbnb’s biggest markets globally, for example, with 60,000 properties… we manage a couple of hundred of them.”

 


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Uber’s COO and chief marketing officer are out

23:42 | 7 June

Uber’s chief operating officer Barney Harford and chief marketing officer Rebecca Messina are stepping down, an organizational shakeup put into motion just a month after the ride-hailing company went public.

CNBC first reported the departures.

The departures, which CEO Dara Khosrowshahi explained in an email to employees, were prompted by his decision to more directly control core parts of the business. Harford left after agreeing that the chief operating officer role “no longer makes sense,” according to the email.

Uber’s marketing, communications and policy teams are also being combined and will be led by Jill Hazelbaker, who was senior vice president of communications and public policy.

Uber has not responded to requests for comment. TechCrunch will update the article if it hears from the company.

Uber hired Coca-Cola veteran Messina in September as its chief marketing officer. Messina, the first person to hold that title at Uber, worked with its international marketing teams on Uber’s branding and marketing strategies. She also oversaw marketing for Uber as it prepared for its initial public offering

A large part of her job was to help to repair Uber’s reputation, which was tainted by a string of scandals, including resignation of co-founder Travis Kalanick and accusations of a toxic work culture.

While Messina is the first person to hold the CMO title at Uber, Bozoma Saint John  href="https://techcrunch.com/2018/06/11/why-bozoma-saint-john-is-leaving-uber-for-endeavor/">previously served as Uber’s first chief brand officer for about a year after joining in June 2017.

Harford, a former CEO of Orbitz, has held the COO position at Uber for about 18 months although hew had been working as an adviser as early as October 2017. Harford was brought on by co-founder and former CEO Travis Kalanick .

Harford had previously worked under Khosrowshahi. Harford, who took on the role of CEO at Orbitz in 2009, later sold the company to Expedia in 2015 for $1.6 billion. Khosrowshahi was the CEO of Expedia. Harford was Expedia company president for Asia Pacific from 2004-2006.

 


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Canopy’s upscale co-working business adds a new location in SF on the heels of strategic funding

03:39 | 24 May

Canopy, an upscale, profitable developer of co-working spaces, has expanded its footprint in San Francisco to a third location on the heels of a strategic financing round.

Co-founded by the product designer Yves Behar; the second generation design-build developer Amir Mortazavi; and serial entrepreneur and medical office space developer Steve Mohebi, Canopy bills itself as a better-designed WeWork for high-powered adults (or aspiring high-powered adults).

Canopy co-founders Amir Mortazavi, Yves Behar and Steve Mohebi

The company opened its latest office space in the financial district of San Francisco and has plans to double its . Jackson Square location with a new penthouse space.

Investors in the round were culled from Canopy members and a few institutional investment funds including: Structure Capital, Montage Ventures, Graph Ventures and individuals like Erik  Blachford, the former chief executive of Expedia, Mark PIncus, the former chief executive of Zynga, and Spencer Raskoff the co-founder of Zillow.

Canopy’s latest office will be at 353 Kearny Street and Pine. The ground floor will house a retail store in partnership with Monocle Magazine ad contain 32 offices suitable for everyone from one person shops to larger teams of ten.

Like all of its offices, Canopy’s new building will be kitted out with Herman Miller sit-to-stand desks and Sayl chairs, and sound masking for privacy.

“Designing our spaces along with my friend and co-founder, Yves Behar, to serve the unmet demands of the premium segment has been a true labor of passion,” said co-founder and CEO, Amir Mortazavi, in a statement. “We build everything around our members’ needs — a generosity of space, abundant natural light, easy flow between private and shared spaces — to ensure the overall Canopy experience is at once inspiring and calm.”

The company boasts 300 members already and its founders say the business is already profitable. Canopy’s workspaces are not for everyone. Prices start at $100 per month to take advantage of the company’s addresses for people who want a virtual office. For folks who want ten days worth of access to the co-working space’s common areas and an actual seat at a table, the price tag is $365 per month ($275 gets you 60 days of access out of a year).

Meanwhile, anyone who wants to be able to sit at an actual desk and work at a Canopy space better be willing to shell out $925 per month. That’s… not cheap.

 


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Uber’s trading debut: who was (and wasn’t) at the opening bell

21:52 | 10 May

Uber finally made its debut Friday on the New York Stock Exchange, ending its decade-long journey from startup to publicly traded company.

So far, it’s been a ho-hum beginning with shares opening at $42, down from the IPO price. The share price is hovering just under $44.

Thirteen people, including executives, early employees, drivers and customers, were on the balcony for the historic bell ringing that opened the markets Friday. Noticeable absentees were co-founder Garrett Camp and former CEO and co-founder Travis Kalanick, who was ousted in June 2017 from the company after a string of scandals around Uber’s business practices.

Kalanick, who still sits on the board and has 8.6% stake in Uber, wasn’t part of opening bell ceremony. Kalanick and Camp were both at the NYSE for the event.

Here is who participated in the opening bell ceremony.

The bell ringer

Austin Geidt, who rang the bell, was employee number four when she started as an intern in 2010. is one of Uber’s earliest employees.

Geidt joined Uber in 2010 and has since worked in numerous positions at the company. She led Uber’s expansion in hundreds of new cities and dozens of new countries. Geidt now heads up strategy for Uber’s Advanced Technologies Group, the unit working on autonomous vehicles.

Executives

CEO Dara Khosrowshahi stood next Geidt at the opening of the market Friday. Khosrowshahi joined Uber in 2017 after Kalanick resigned and the board launched an extensive search for an executive who could change the culture at the company and prepare it for an eventual IPO.

Khosrowshahi was the CEO of Expedia, before joining Uber. Khosrowshahi gave a one-year update on his time at Uber during TechCrunch Disrupt in September 2018.

Uber CTO Thuan Pham has been with the company since 2013. Prior to coming to Uber, Pham was vice president of engineering at VMWare.

Rachel Holt, vice president and head of New Mobility, was also on hand. Holt has worked at Uber since October 2011, when the company was live in just three cities. In May 2016, she became VP and regional general manager of Uber’s operations in the U.S. and Canada.

She was promoted to head up new mobility in June 2018. She’s responsible for the ramp-up and onboarding of additional mobility services, including public transit integration, scooters, car rentals and bikes.

Rachel Holt. Getty Images 

Other executives included Pierre-Dmitry Gore-Coty and Andrew MacDonald, both vice presidents and regional general managers at Uber as well as Jason Droege, a vice president who heads up Uber Eats.

Droege, who joined Uber in 2014, has the official title of head of UberEverything. This is the team that created the food delivery service Uber Eats, which now operates in 35 countries.

Drivers

Uber had five drivers on hand for the opening bell, who represented different services and geographies.

Among the drivers were:

  • Jerry Bruner, a Los Angeles-based driver who is a military veteran and former professional golfer. Bruner has completed more than 30,000 Uber trips.
  • Tiffany Hanna, a military veteran, is based out of Springfield, Missouri. Hanna is truck driver who uses the Uber Freight carrier app. 
  • Jonelle Bain, a New York-based driver. Uber, which shared the bios of the drivers, said Bain is taking coding classes and plans to become a software engineer.
  • Onur Kerey is a driver based out of London. Kerey is deaf. According to his bio, “he doesn’t let his disability get in the way of his passion for driving or connecting with others.”
  • J. Alexander Palacio Sanchez is based in Australia and has been driving with Uber since 2015. His true passion is acting, according to Uber, and at the urging of his riders, he auditioned for the role of Kevin in The Heightsand landed it.

Customers

One customer, Elise Wu, also participated in the opening bell. Wu owns Kampai, a family of restaurants in France that serves affordable cuisine made available for delivery through Uber Eats.

 


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Mint House raises $15m to give business travelers a better hotel

16:00 | 9 May

Hotels are convenient but rarely homey. Short term rentals through Airbnb or HomeAway are often comfy but can be a pain to book and check-in. Business travelers often have to pick the best of two lousy options. Mint House is summed up best by Tige Savage, Revolution Venture managing partner: “Mint House is the best of a hotel without the worst of a hotel and the best of an Airbnb without the worst of an Airbnb.”

The New York-based Mint House is today announcing a $15 million financing round led by Revolution Ventures with participation from other investors and hotel industry veterans. The influx of capital and industry connections should go a long way in allowing the company to expand its offering that caters to business travelers looking for apartment-style accommodations with the predictability and reliability found in top-tier hotels.

Mint House is entering a crowded market dominated by Airbnb and monstrous industry incumbents. Mint House founder and CEO, Will Lucas, explained to TechCrunch how the company stands apart from hotels and short-term rentals. He said the company strives to provide the business traveler with a comprehensive hotel experience.

The service works a lot like a modern hotel. Travelers book online and proceed with their trip. Once the traveler arrives in the area or lands at the airport, a geofence is tripped, triggering directions to enter the building and room. The traveler doesn’t have to find someone to give them the key; their phone unlocks the door to an apartment-style room. Lucas says this takes a lot of stress off the property owner as the traveler does not need to bother anyone in the building — tenets or management alike.

Right now Mint House is focusing on markets in the US besides the top markets of New York City, San Francisco, and Los Angeles. Mint House is available in Indianapolis, Denver, Nashville, Miami, and Detroit. Lucas said he feels there are opportunities in these markets and often there are even worse accommodations available than in the busiest cities. Still, the total offering is relatively small: there are 200 rooms in operation, and 200 are scheduled to open by summer 2019. Travelers can book a Mint House through their app, website, or on travel sites like Expedia, Booking.com or Airbnb.

Mint House leases buildings from property owners, and Lucas was adamant that it’s the company’s goal to be a preferred partner with the real estate industry. He says that so far properties are receptive to Mint House’s business plan, and to be a global brand, the real estate community company needs welcome Mint House. Each property, even though some might be residential or mixed-use, have a dedicated staff of cleaners and management employed by Mint House. Likewise, each city Mint House operates in has a dedicated staff in-market overseeing the local operation.
“We understand that we have two customers – the multifamily developers and the business traveler – and by prioritizing both we’ve been able to secure A+ properties and deliver a top-rated guest experience,” Lucas said.” We have also formed a team of investors and advisors that are perfectly suited to help us differentiate ourselves in this lucrative market. With expertise and relationships in growing cities, as well as how to build world-renowned hospitality brands and services, we are confident that we can continue to build and expand alongside landlords and hospitality partners.”
Each market offers different regulations that Mint House has to follow. Lucas says the company supports whatever regulation they need to follow. It’s clear he’s trying to keeping Mint House on the right side of regulation. And he has help. Mint House has attracted the attention of several industry veterans that know how to grow a hospitality company.

Several notable hospitality veterans also participated in the financing round including Tom Mangas, the former CEO of Starwood Hotels, Carl Sparks, the former CEO of Travelocity, Kerry Hatch, the former president of St. Regis Hotels, and Rob Stewart, the Executive Vice Chairman of JBG Smith. Philippe Bourguignon, Vice Chairman of Revolution Places, former CEO of Club Med and Euro Disney and former president of Accor Hotels, Asia Pacific will join the board.

The deep network of industry insiders should help Mint House carve out a space of their own in the competitive hospitality world. It’s a tough market. Mint House has to get buy-in from business travelers and property owners alike. It’s a two-front battle. But as a frequent traveler myself, Mint House’s value proposition is compelling. I don’t need a hotel lobby or lackluster gym; I want a bed, couch and a TV without the terrible hotel menu system.

 


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Online catering marketplace ezCater gets another $150M at a $1.25B valuation

07:01 | 2 April

In 2007, Stefania Mallett and Briscoe Rodgers conceived of ezCater, an online marketplace for business catering, and began building the company in Mallet’s Boston home, mostly at her kitchen table.

Recently, sitting at that same table, Mallett negotiated with Brad Twohig of Lightspeed Venture Partners the final terms of a $150 million Series D-1 at a $1.25 billion valuation. Lightspeed, alongside GIC, co-led the round, with participation from Light Street Capital, Wellington Management, ICONIQ Capital and Quadrille Capital.

“Raising money or getting to unicorn status, it’s all nice validation but that’s not the purpose, the purpose of being in business is to grow a very successful company with happy customers and happy employees,” Mallett, ezCater’s chief executive officer, told TechCrunch. “We are going to have cupcakes with unicorns on them. That will take us about a half hour, then we will get back to work.”

EzCater co-founder and CEO Stefania Mallett

Mallett compares ezCater to Expedia . The travel company doesn’t own and operate hotels, nor do they create them. EzCater, similarly, works with 60,500 restaurants and caterers around the U.S. to fulfill orders, but at no point do they work directly with food nor make any deliveries themselves.

Since its inception, the ezCater marketplace has grown considerably, expanding 100 percent annually for the last eight years, Mallett tells us. Though, like most unicorns, ezCater isn’t profitable yet.

Both Mallett and Rodgers are software industry veterans, establishing engineering careers prior to tackling business catering. The pair bootstrapped the company until 2011, when they secured a small Series A investment of $2.7 million. That same year, U.S. foodtech startups raised $176 million, per PitchBook. EzCater would go on to raise more than $300 million in equity funding, including its latest round, and VC interest in foodtech would explode. Already this year, U.S. foodtech startups have brought in $626 million after pulling in a whopping $5 billion in 2018.

EzCater has benefited from this boom. The company raised a $100 million Series D just 10 months ago.

“We really didn’t need the money, we have quite a lot of money in the bank from the last round,” Mallett said. “There was so much talk of a funding winter and a recession coming so we said maybe we should try to raise money and then people jumped on it so we thought OK, why not? If there is a funding winter, we’re set; if not, well, we are still set.”

The investment comes hot off the heels of ezCater’s acquisition of Monkey Group, a cloud platform for take-out, delivery and catering. Mallett declined to disclose terms of the deal but said the partnership makes ezCater the indisputable market leader in catering management software. The company will use its recently expanded war chest to accelerate its international expansion and, potentially, continue its M&A streak. As for the future, an initial public offering is amongst the possibilities.

“We certainly are considering it,” Mallett said. “As we’ve grown, we’ve become more sophisticated and mature; that puts us in a good position to continue operating as a successful standalone company or be acquired by a public company or go public if we see an opportunity to do that. We are not wedded to any of these outcomes.”

 


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Travel startups are taking off

03:06 | 12 November

The second wave of Internet-era travel companies has captured the attention of venture capitalists.

In the last five years, travel companies have raised more than $1 billion in venture capital funding. That includes short-term rental startups, travel and tourism apps, marketplaces for “experiences” and other travel or hospitality tech platforms. Airbnb, a $38 billion company and an anomaly in the category, has raised $3 billion in that same time frame, according to PitchBook.

In the last few months alone, aspiring Concur-competitor TripActions and travel activities platform Klook entered the “unicorn” club with large venture rounds that valued both of the businesses at more than $1 billion. Meanwhile, luggage maker Away raised $50 million at a $400 million valuation and smaller startups in the space like Freebirds, IfOnly, KKDay, Duffel and RedDoorz all closed modest funding rounds.

“Something is really happening in the industry; something bigger than us,” TripActions co-founder Ariel Cohen said in a recent conversation with TechCrunch about his company’s $154 million Series C financing. “Different startups are identifying the opportunity here and the fact that companies want to make sure their employees are happy while they are on the go. That’s why you see investments in companies like Brex and like TripActions.”

Brex, though not classified as a travel startup, lets startup employees earn extra points on business travel with its corporate credit card for startups. It recently raised a $125 million Series C at a $1.1 billion valuation.

Global travel and tourism is one of the most valuable industries worth some $7 trillion. The online travel market, in particular, is expected to grow to $817 billion by 2020. VCs are hunting for tech-enabled startups poised to dominate that slice.

“You have a new wave of businesses where all of that digital infrastructure is set up, so the focus can be on things like efficiency, improved customer service, scale and growth — you have a ton of companies popping up catering to those needs,” Defy Partners co-founder Neil Sequeira told TechCrunch. Sequeira was a managing director at General Catalyst when the firm made its first investment in Airbnb.

On the other hand, you have a whole cohort of travel business founded amid the dot-com boom that are looking to technology startups for a much-needed infusion of innovation. Many of those larger companies have become active acquirers, fueling VC interest in the space. SAP Concur, for example, acquired the formerly VC-backed travel-booking startup Hipmunk in 2016. Before that, it bought travel planning company TripIt for $120 million, among others.

Expedia has gobbled up a number of travel brands too, like travel photography community Trover; Airbnb-competitor HomeAway, which it paid a whopping $3.9 billion for in 2015; and most recently, both Pillow and ApartmentJet.

Many of these acquisitions are for peanuts, which is far from ideal for a venture-funded company. And building a travel business is cash intensive, hence the $4.4 billion Airbnb has raised to date or even TripActions’ $236 million in total VC funding. To keep momentum in the space, companies need to be striking larger M&A deals.

It doesn’t help that many in and around the venture capital industry are predicting an imminent turn in the market. Travel companies, which are reliant upon a consumer’s tendency to spend excess cash, will be among the first sectors to be impacted by hostile economic conditions.

“If the market turns, people aren’t going to spend $10,000 on a trip to Zimbabwe,” Sequeira said, referencing companies like IfOnly, which sells curated experiences.

Travel startups should raise now while the market is hot. The conditions may not remain favorable for long.

 


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Expedia acquires Pillow and ApartmentJet to conquer the short-term rental market

00:59 | 27 October

To keep up with the rising demand for short-term rentals in U.S. cities and compete with the home-sharing giant Airbnb, travel booking site Expedia has picked up a pair of venture-backed hospitality startups, Pillow and ApartmentJet.

Employees of both companies will join Expedia . The company declined to disclose the financial terms of the deals.

“Acquiring Pillow and ApartmentJet will help unlock urban growth opportunities that, over time, will contribute to HomeAway’s ability to add an even broader selection of accommodations to its marketplace and marketplaces across Expedia Group brands, ensuring travelers always find the perfect place to stay,” the company explained in a statement.

Expedia paid $3.9 billion for HomeAway and its portfolio of travel brands in 2015. The deal was its first major move in the alternative accommodations space, as well as the beginning of a series of efforts to outdo VC darling Airbnb. Its latest targets provide software tools for property managers to easily manage short-term rentals on Airbnb competitors like HomeAway and VRBO.

Located in San Francisco, Pillow helps residents list their apartments as short-term rentals without violating their leases. It’s raised a total of $16.5 million in VC backing since 2013, including a $13.5 million round last year led by Mayfield, with participation from Sterling.VC, Peak Capital Partners, Expansion VC, Chris Anderson, Gary Vaynerchuk, Dennis Phelps and Veritas Investments.

ApartmentJet helps property owners earn money off vacancies. Founded in 2016, the Chicago-headquartered startup had raised a reported $1.2 million in capital from Network Ventures and BlueTree.

Bellevue-based Expedia Group owns several travel brands, including HomeAway, VRBO, Travelocity, trivago, Orbitz and Hotels.com. The company is both an active investor in and acquirer of startups.

Expedia’s shares rose 9.4 percent Thursday after its third-quarter earnings beat analyst expectations. The company posted $3.28 billion in revenue, a notable increase from last year’s $2.97 billion.

 


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Sounds great Facebook got a button a few years ago
Then it disappeared Twitter needs a bottom maybe…
Peter Short

Apple’s Next iPhone Rumored To Debut On September 9th
Peter Short
Looks like a nice cycle of a round year;)
Peter Short

AncestryDNA And Google’s Calico Team Up To Study Genetic Longevity
Peter Short
I'm still fascinated by DNA though I favour pure chemistry what could be
Offered is for future gen…
Peter Short

U.K. Push For Better Broadband For Startups
Verg Matthews
There has to an email option icon to send to the clowns in MTNL ... the govt of India's service pro…
Verg Matthews

CrunchWeek: Apple Makes Music, Oculus Aims For Mainstream, Twitter CEO Shakeup
Peter Short
Noted Google maybe grooming Twitter as a partner in Social Media but with whistle blowing coming to…
Peter Short

CrunchWeek: Apple Makes Music, Oculus Aims For Mainstream, Twitter CEO Shakeup
Peter Short
Noted Google maybe grooming Twitter as a partner in Social Media but with whistle blowing coming to…
Peter Short