Here’s Why TripAdvisor Might Have Invested In Business Travel Data Aggregator, Traxo
In a possible attempt to strengthen the travel services portfolio for its business travelers, TripAdvisor has decided to be the lead investor in the Series B funding round worth $5.2 million for Traxo, a company that collects data in the business travel domain. The amount of the investment is still unknown, however, it is confirmed that TripAdvisor’s senior vice president, Adam Medros, will get a seat on Traxo’s board as a result of this investment. At present Traxo’s total funding stands at $11.2 million since its establishment in 2008. The funding is expected to be used by the company to grow its presence into Europe next year and into Asia-Pacific, the year thereafter. Though Traxo is mainly in business travel, it also has a few clients from leisure travel. Traxo helps travel service providers in tracking off-platform bookings and provides insights into travel spends by consumers.
How Might TripAdvisor Be Benefited?
Though this move by TripAdvisor might not suggest its plan to directly enter business travel, this collaboration can indicate that the company’s ambitions of becoming a travel booking platform with its Instant Booking, might be further strengthened by the presence of services for business travelers. Additionally, TripAdvisor’s metasearch platform can also gain with an expanded option for corporate travelers. TripAdvisor is currently struggling with its Instant Booking platform. Though it is a hit with the top hotel chains (8 out of 10 are on the platform) as well as the world’s biggest OTA, Priceline, consumers are still taking time in warming up to the possibility of booking through TripAdvisor, which is primarily known for being the largest travel review website in the world and is famous for its metasearch options. Maybe further augmenting Instant Booking with expanded options such as these might help TripAdvisor’s Instant Booking in gaining more acceptability in the future.
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