Corporate travel services
Updated: November 08, 2018
2018. Corporate travel startup TripActions raises $154M
TripActions, one of the most well-capitalized travel startups in Silicon Valley, has raised $154 - yet another round of VC valuing the corporate travel manager at more than $1 billion. TripActions provides a corporate travel platform that integrates with company HR and expense systems. Using TripActions, business travelers can arrange flights, hotels and transportation, with 24/7 global support from the startup’s staff. Dropbox, Lyft, Twilio, Allbirds and Tuft & Needle are among its customers. The company has expanded its platform by adding TripActions Luxe, a VIP program for executive travelers; TripActions’ in-house Meetings & Event solution for group travel; and TripActions’ Guest Invite Portal, designed for HR and recruiting teams. It also recently opened its European headquarters, an engineering and data science hub in Amsterdam, and plans to double down on R&D, AI and machine learning with the fresh investment.
2016. Travel and expense management platform Concur acquired travel search Hipmunk
Concur, the travel and expense platform that was acquired by SAP in 2014 for $8.3 billion, is today making its own acquisition: it is buying Hipmunk, the travel search startup. Hipmunk will be integrated into Concur’s platform (which currently has search already, but as a Concur user, I can attest to the fact that it’s not that great and will be very much improved by adding Hipmunk). Concur has acquired other startups to augment its functionality, including TripIt to track and share your travel plans. It’s also invested in ClearTrip.
2015. Online travel service Expedia buys competitor Orbitz
After buying Travelocity earlier this month for $280 million, Expedia continues its online travel acquisition spree. The company announced an agreement to acquire Orbitz for $1.6 billion. The deal speaks to ongoing consolidation in the market, but also Expedia’s bigger competitive threat in the form of Priceline, which owns Kayak and other large travel properties, and the fact that perhaps Orbitz saw the consolidation writing on the wall itself. After years of investment, airlines and hotels are doing more business through their own websites. Other websites that scan the Internet for travel deals from multiple sources have become the first stop for many travelers.
2015. TripAdvisor buys travel journal app Rove
TripAdvisor, the travel planning and booking service, acquired ZeTrip and its “automatic” travel journal app Rove, which provides a travelog of your movements based on your GPS coordinates and other data. TripAdvisor has long been focussed on pre-travel activity — that is, figuring out where you will go, and then planning that trip. The tech that they are picking up here potentially gives it the chance to extend its lifecycle with its customers, giving it a more relevant role during and after the trip. One other thing is clear, though: the company is clearly amassing an arsenal of businesses that are helping it pick up ever more data about how consumers travel, which potentially feed its bigger business in the travel vertical and how it can leverage that for advertising and other marketing services.
2014. SAP acquires travel and expense management service Concur
SAP acquires Concur, the expense and travel management solution, for $8.3 billion. Concur has roughly 25 million users in over 150 countries. And in 2011 Concur acquired travel organizer TripIt back in 2011. With Concur in its clutches, SAP claimed it will now have 50 million cloud users. As part of the deal, Concur will help SAP develop context-aware mobile applications and SAP will start using Concur’s travel-and-expense management services. The acquisition is expected to close in the fourth quarter of this year or the first quarter of 2015.