© 2015 Phocuswright Inc. All Rights Reserved.
1
1,000 startups
Founded since 2005
Focused on digital travel
Tagged vertically (segment) and horizontally (medium/technology)
© 2015 Phocuswright Inc. All Rights Reserved.
2
US$12 billion+
Publicly disclosed angel, seed, venture funding & industry acquisitions
Base: 986 companies
Notes: Publicly disclosed funding information up to December 2014. Includes pre-IPO funding rounds for HomeAway and Qunar.
Excludes funding rounds and acquisitions of companies established prior to 2005.
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
3
3
52%
Raised in 2014 alone (think Uber)
Base: 986 companies
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
4
What’s the State of
Online Travel Companies?
Crowded
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6
Majority of Online Travel Startups Concentrate
on Just Three Regions
40%
26%
27%
Base: 986 companies
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
7
Funding Follows Entrepreneurial Drive,
Regional Online Travel Growth
49%
15%
32%
Base: 986 companies
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
8
U.S., Chinese Online and Mobile Travel Intermediaries Have
Raised the Most Capital Since 2005
Base: 986 companies
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
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9
U.S., Chinese Online and Mobile Travel Intermediaries Have
Raised the Most Capital Since 2005
Base: 986 companies
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
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10
Few Win in the Race for Capital
Share of Total Funding Raised by Online Travel Companies Worldwide,
2005-2014
Uber
22%
Others
51%
Didi Dache
7%
Airbnb
7%
Trivago
6%
HomeAway
Qunar
4%
3%
Base: 986 companies
Notes: Publicly disclosed funding information up to December 2014.
Includes pre-IPO funding rounds for HomeAway and Qunar. Excludes funding rounds and acquisitions of companies established prior to 2005.
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
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Many Imitate
Few Innovate
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12
Raised ~$6B
$40B Valuation
Market Cap $3B
Raised $795M
$13B Valuation
Raised $332.5M
$2B Valuation
Raised $81M+
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
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But There’s A Whole Lot More to Ground
Transportation Than Point-to-Point Taxis …
Founded in 2007, acquired by India’s
Ibibo Group (Naspers) for $94M in
June 2013
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
14
One in Five Travel Startups Are Mobile-Oriented
Inspire
Curate
Locate
Save
Base: 986 companies
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
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Mobile Is the Fastest Growing Horizontal Segment
1,832%
Funding Growth in Mobile Travel
Startups Between 2011-2014
Base: 986 companies
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
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Here Comes the Money
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25
Total Funding (US$M)
2.700
130
309
91
161
0
0
Ground Transport
Number of Companies
Private Accommodation
Publicly Disclosed Funding
Lodging
Average Funding Per Company (US$M)
Capital Raised by Travel Startups by Vertical
Focus, 2005-2014
Air
Average Funding Per Company
Base: 986 companies
Notes: Publicly disclosed funding through December 2014. Excludes funding rounds and acquisitions of companies established prior to 2005. Also excludes select funding rounds that would
otherwise skew the results (e.g., Baidu's $306 million acquisition of Qunar in 2011, Uber's $2.4 billion and Didi Dache's $800 million funding rounds in 2014).
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
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Total Funding (US$M)
2.700
25
410
195
163
168
0
0
Booking
Number of Companies
Mobile
Publicly Disclosed Funding
Search
Average Funding Per Company (US$M)
Capital Raised by Travel Startups by Horizontal
Focus, 2005-2014
Content Play
Average Funding Per Company
Base: 986 companies
Notes: Publicly disclosed funding through December 2014. Excludes funding rounds and acquisitions of companies established prior to 2005. Also excludes select funding rounds that would
otherwise skew the results (e.g., Baidu's $306 million acquisition of Qunar in 2011, Uber's $2.4 billion and Didi Dache's $800 million funding rounds in 2014).
Source: Phocuswright Inc.
© 2015 Phocuswright Inc. All Rights Reserved.
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© 2015 Phocuswright Inc. All Rights Reserved.
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Thank You!
Chetan Kapoor
Research Analyst, Asia Pacific
Phocuswright
@KapoorChetan
#phocuswright