tripcreator
2 weeks ago
 

TripCreator raises $2 million, banishes B2C trip planning service

Fresh from a $2 million funding round, TripCreator is focusing solely on a B2B model rather than trying to push its consumer-facing platform.

The Iceland-based startup, which officially launched less than two years ago, raised the seed money from a group of private angel investors in its home market.

It has now raised almost $5 million in investment since February 2013, when the idea was first conceived to create a travel planning platform.

The company says it had “a lot of returning customers” to the B2C service but, similarly to countless other trip planning startups, “margins are low and customer acquisition is expensive”.

Head of marketing Bragi Antoniusson says:

“It’s simply a better business model to leverage the technology we’ve already built and get a steady income from our customers.We decided to shut down the consumer site so that we’re not seen as competitors to our current and potential customers and to focus our marketing and development efforts on what is now our main product.

“We decided to shut down the consumer site so that we’re not seen as competitors to our current and potential customers and to focus our marketing and development efforts on what is now our main product.”

The B2B TripCreator allows users to build itineraries, with maps, calendars and timelines built in.

Items such as things to do and hotels can be added to the checklist and, if available, a purchase or reservation can be made.

National airline IcelandAir will be the first carrier to integrate the TripCreator white label platform.

A number of online travel agencies are also expected to go live with it at some point in the near future.

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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 early-2017.

 

Comments

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  1. Ravi

    They have realised customers are not looking for a better mousetrap, but a dead rat! Barring an outlier fraction, people are averse to plan, no matter what the tool delivers! In leisure travel, Planning isn’t purchasing. So the customer will have to go through multiple transactions if there are covering multiple destinations, which is significant amount of time spent on planning plus transaction. One and done all is what is required, something offered on QuitCityNow.com

     
  2. Nima

    what is the difference between these guys and ComboTrip, Travefy, Utrip, etc?

     
  3. Andreas Rasmussen

    If you seek funding then adress all our investors !

    Aktieporteføljen, or AP as we are colloquially known, is the most visited investor community in Scandinavia,
    for investors in equities, commodities, fixed income and debt, where they can exchange ideas and views on either specific investments or bigger picture, market trends.

    Our network is rapidly growing. We believe this is driven by an increased awareness of financial markets and a broadening of stock ownership amongst European investors, which has resulted in increased demand for information regarding specific companies and their performance. In short, the retail investor base is growing and they are becoming much more demanding.

    Since its launch, AP has been a huge success with an interaction between members rarely seen in the market and has created an on-line community which is highly appreciated amongst our members. Currently AP has + 34.000 members/investors (growing at a pace of + 1,000 new members pr month), which includes representatives from the media, financial sector, institutional investors both in Denmark and abroad as well as corporations whose stock are sometimes the topic of discussion.

    Many of the above have a vested interest in closely monitoring what is happening within their community and how investors are thinking about specific opportunities or stocks. Currently we have around 1 million visits pr month.

    Currently AP uses Facebook (closed group) as its platform but it is our intention to explore alternative delivery mechanisms as our business model evolves.

    AP-Direct !

    https://www.linkedin.com/pulse/ap-direct-link-between-companies-investors-andreas-rasmussen?

    Should you require further information, please do not hesitate to contact us. I shall also take the liberty of reaching out to you in the send half of this year to briefly discuss the contents of this letter.

    Join AP today : https://www.facebook.com/groups/aktieportefoljen/

    Yours sincerely

    Andreas Rasmussen CEO & Founder Aktieporteføljen

     
    • Kevin May

      Kevin May

      @andreas – thanks, but how is this relevant to TripCreator story above? I can’t see any….

       
 
 

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