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3 years ago
 

GetYourGuide woos ex-Booking.com boss and others to invest $4.5M

More investment capital pouring into Getyourguide – this time in the shape of $4.5 million from Kees Koolen and Fritz Demopoulos, ex-respective CEOs of Booking.com and Qunar.

The latest round comes almost a year to the day since the tours and activities booking service raised some $14 million, one of the largest ever (if not the largest) investment rounds in the sector.

The latest injection bringing its total funding to date to $20.5 million.

Venture company Sunstone Capital joined Koolen and Demopoulos in the round. Both ex-CEOs will be joining the Getyourguide board of directors.

Getyourguide claims it is now the “largest platform for tours, activities and attractions”, with 23,700 products in 2,250 destinations around the world.

Koolen stepped aside from his role as CEO of Booking.com in the September 2011, being replaced by now Priceline Group CEO Darren Huston. Demopoulos, who co-founded Chinese metasearch Qunar in 2005, also relinquished control in the summer of the year.

Koolen says the tours and activities sector is “enormous”, with a prediction that the market will shift towards online and mobile bookings, “similar to what happened in the hotel market over the last decade”.

Getyourguide CEO Johannes Reck says the latest investment round will be used for “international expansion and mobile”.

“But this was not at all about the money but 100% about the know how. Kees has the perfect travel playbook for global growth and Fritz is THE expert for China.”

Getyourguide appears to have increased its products line by a third in the past 12 months, having said during its last capital raise that the platform had around 17,000 activities.

The company first appeared on the scene in early-2010 as a competitor to the likes of Viator and Isango in the OTA model for selling tours and activities.

Isango was sold to TUI Travel for an undisclosed fee in February 2013.

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Kevin May

About the Writer :: Kevin May

Kevin is senior editor and a co-founder at Tnooz. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.

He has worked in regional newspapers (Essex Enquirer) and started his career at the Police Gazette at New Scotland Yard in London. He has a degree in criminology, a postgraduate diploma in magazine journalism and publishes his first book - a biography about Depeche Mode - in 2017.

 

Comments

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  1. Steven

    Interesting that the round came so close to the previous round and that the existing investors did not participate. This follows a strategic reallignment and redundancies as well. I am a bit curious

     
  2. Otto johnson

    All good but I don’t see how any company can keep quality levels with that many things they offer. I think they lack focus to be able to actually deliver high quality. Some of their tours make no sense at all.

     
  3. Bernd Hellmuth

    Going where the money is. Getting Money, getting know-how and getting connections to go to China seems like a realy good idea. Go GYG ..

     
 
 

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