GetYourGuide Raises Investment of Two Million US Dollars: Industry Veterans Back Online Booking Platform's Expansion Plan
GetYourGuide, the world's largest online platform for tours, activities and attractions, has announced a new round of investment that will further accelerate its growth.
Berlin, March 7, 2012:
Ahead of its attendance at travel fair ITB Berlin, the business announced new backing from venture capital firm PROfounders Capital and other new investors. Total capital raised is two million US dollars and will be used to fund the company's growth and expansion into new markets.
PROfounders is the venture capital fund whose investors include some of Europe's most successful Internet entrepreneurs, among them Brent Hoberman (founder of Lastminute.com), Andy Phillipps (founder of Active Hotels/Booking.com), and Karen Hanton (founder of TopTable.com). Sean Seton-Rogers, General Partner of PROfounders, will become a member of GetYourGuide's supervisory board.
Swoodoo founders Christian Saller, Wolfgang Heigl and Lars Jankowfsky are also participating in the investment round. . Swoodoo, a meta flight-search engine, was founded in 2008 and acquired in 2010 by US market leader KAYAK. Saller, Heigl, and Jankowfsky have led KAYAK's expansion in Europe.
"We are exceedingly pleased to have found investors that not only understand our vision and business culture, but also recognize our potential," stressed GetYourGuide CEO, Johannes Reck. "At the forefront of our search was identifying partners that could, through their reach and experience, help us with our plan for expansion. Their expert knowledge and network are valuable and helpful."
In only 24 months, GetYourGuide has developed into the world's largest platform for tours, attractions and activities. In this period of time the company has acquired more than 10,000 offerings, bookable on www.getyourguide.com, and reaches more than a half million visitors per month.
In addition to its large booking assortment, GetYourGuide has also formed partnerships with a network of leading travel websites like TripAdvisor, KAYAK, and Opodo.
"We are confident that GetYourGuide, with its accompanying travel portal, will become a global market leader. Not only does GetYourGuide offer travelers a huge added value, but it also unlocks enormous potential within a fragmented portion of the travel industry," stated Brent Hoberman, founder of lastminute.com and Investment Partner of PROfounders.
"GetYourGuide is, hands down, the most interesting European online travel start-up that I've seen in recent years," affirmed Christian Saller, swoodoo founder and Managing Director of KAYAK Europe. "A huge market, a strong team, an attractive business model and huge momentum speak for this goal-oriented and promising Swiss company."
A study by the market research and development firm PhoCusWright estimated the worldwide market for leisure activities and excursions in the holiday sector at about 100 billion US dollars,* making this field the third largest online travel segment after flights and hotels.
"Only a small percentage of the offerings are being booked online or on a mobile phone. However, there is enormous potential for growth, which we will continue to develop with our new investors and partners," emphasizes GetYourGuide CEO Johannes Reck.
*PhoCusWright report "When they get there" (2011)
GetYourGuide, the Internet's largest booking platform, offers more than 10,000 attractions, tours and activities in upwards of 600 worldwide destinations. From sightseeing and historical tours to rafting, helicopter tours and snorkeling excursions, GetYourGuide provides the full vacation and adventure assortment. The GetYourGuide website was launched in 2010. The company has offices in Zürich, Berlin and Las Vegas.
About PROfounders Capital
PROfounders Capital is a venture capital fund for entrepreneurs powered by entrepreneurs. Its investors and principals number some of the best-known players within the digital media space – people who have built some of Europe's most successful companies, including Brent Hoberman (lastminute.com), Karen Hanton (Top Table), Michael Birch (Bebo) and Andy Phillipps (Active Hotels).
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