travel booking. personalized. · 2016-02-02 · personalization has been proven to work in other...
TRANSCRIPT
T R A V E L B O O K I N G . P E R S O N A L I Z E D .
GADI BASHVITZ
CO-FOUNDER & CEO
@OLSETINC
Conversion rates for online travel agencies are very low (<2%).
Consumers expect a personalized booking experience.
C O N V E R S I O N
P E R S O N A L I Z A T I O N
T H E P R O B L E M
Proprietary & confidential2
OLSET offers an IAAS solution that travel companies use to improve conversions bypersonalizing the search, recommendation
and booking experience for their users.
S O L U T I O N
Proprietary & confidential3
S U P E R I O R C O N V E R S I O N M E T R I C S
O D I G E O P o r t u g a l A / B t e s t s h o w s > 3 6 % h i g h e r c o n v e r s i o n s f o r O L S E T r e s u l t s v s . O D I G E O r e s u l t s
Proprietary & confidential4
We have since deployed to their Italy site (100X larger than Portugal and have sustained conversion increase of 21% for the past 4 weeks)
S U P E R I O R C O N V E R S I O N M E T R I C S
F a r e p o r t a l i s s e e i n g a n a v e r a g e u p l i f t o f 2 3 . 7 % o f h o t e l u p - s a l e s
Proprietary & confidential5
Personalization has been proven to work in other industries, but travel is
behind the adoption curve.
The last 10 years in travel have been about laying the pipes.
The mobile booking revolution is here. Companies can’t afford to not
personalize.
Companies are sitting on troves of data but not doing anything with it.
P E R S O N A L I Z A T I O N
I N F R A S T R U C T U R E
M O B I L E
D A T A
W H Y N O W ?
Proprietary & confidential6
M A R K E T O P P O R T U N I T Y
T o t a l M a r k e t > $ 2 0 0 B n
$130Mn ARR
3 Levels of Customers for B2B
Large - 25x ARR $1.5Mn = $37.5Mn
Medium - 65x $600k = $39Mn
Small - 1,200 x $45k = $54Mn
SaaS pricing based on searches or PNRs- common in the industry
Proprietary & confidential7
M A R K E T O P P O R T U N I T Y E X P L A I N E D — T O P O T A s
Top 25 OTAs globally have a combined 1Bn monthly searches
But only 19.3Mn bookings per month
And generate $875Mn in monthly commissions
Assuming OLSET improved conversations by 5%:
Monthly commissions will go up by $44Mn
Assuming a 10% cut OLSET’s monthly SaaS
revenue is $4.4Mn
Proprietary & confidential8
O L S E T T E C H T A L K
Traveler ProfileCollaborative Filtering
Hotel InventoryContent Based
Recommendation Engine
Personalized RecommendationsKnowledge Based
Proprietary & confidential9
P R O G R E S S O V E R 1 8 M O N T H S
T E C H N O L O G Y C U S T O M E R S L E A R N I N G
Largest global sentiment DB — 200Mn sentiments
Knowledge-based recommendation engine
ML for continuous improvement
2 top TMCs
3 top OTAs
#1 GDS
Top 3 itinerary tool
Traveler profiles
Optimized algorithms
Reduced deployment time 50%
US Utility Patent: US: 2014/0114705 / Also filed in the
EU
Proprietary & confidential10
D E M O
Proprietary & confidential11
C O M P E T I T I V E L A N D S C A P E
TR
AV
EL
ER
DA
TA
REVIEW SENTIMENT DATA
OTA / TMC Focus OTA / TMC Focus
Hotel Property Focus Hotel Property Focus
HOME GROWNSOLUTIONS
Proprietary & confidential12
Realtime At abandonment
Follow up
Remarket
Personalization Opportunities
G O T O M A R K E T
O T A
ODIEGO — 75Mn monthly visits
FarePortal — #5 OTA - $4Bn, 20Mn monthly visits
LBF Travel — 12Mn monthly visits
G D S
AMADEUS — #1 GDS globally
Sentiments in web services — 20,000 travel agencies
OTA Referral — >750 OTAs
CheckMyTrip — ~1Mn itineraries in the platform monthly
T M C
BCD Travel — #3 TMC, $24.2Bn
Adelman Travel — #14 TMC, $597.4Mn
Proprietary & confidential14
S U P E R I O R C O N V E R S I O N M E T R I C S
A / B t e s t s h o w s 1 0 . 4 % h i g h e r c o n v e r s i o n s f o r O L S E T r e s u l t s v s . E A N r e s u l t s
Proprietary & confidential15
C U S T O M E R S L O V E U S
“The feedback from our customers is very positive. They are excited to have this knowledge which helps them make better decisions.”
“Our partnership with OLSET allows us to provide today’s travelers with the services they are demanding—in this case with personalized hotel recommendations—which will
significantly improve hotel bookings on the CMT platform.”
M I C H A E L B A Y L EHead of Mobile
Amadeus IT Group
I V A N I M A N ACIO
Adelman Travel
Proprietary & confidential16
O L S E T L E A D E R S H I P
G A D I B A S H V I T ZFounder & CEO
A M Y N S H E R I F FFounder & CTO
E R I C W USenior Developer
Merced Systems, Verint Tellme, Microsoft, Travelocity Google
+3 Engineers, +1 Product, +1 Marketing
Proprietary & confidential17
D r . Y u p e n g K o n gData Scientist
GE, UCSF
O U R A D V I S O R Y B O A R D
E V A N K O N W I S E RAmex, GBT
E L L E N K E S Z L E RPresident, Travelocity for Business
B R I A N H A R N I M A NBrand New Matter
N O R M R O S ETravel Tech Consulting
H E R V E S E D K YPresident, Reed Exhibitions
A L E X L U Z A R R A G ASVP Strategy, Amadeus IT Group
Proprietary & confidential18
S T A T U S R E P O R T
F U N D I N G
Raised $1.7Mn on note (last cap $7Mn)
2 current investors committed to next round
T E A M
9 employees + 1 contractor
S T R A T E G I C
Partnership with Amadeus IT Group
US Utility Patent: US: 2014/0114705 / Also filed in the EU
P R O D U C T
Time to complete pilot reduced > 50%
Proprietary & confidential19
I N V E S T M E N T O P P O R T U N I T Y
$1Mn Seed Extension
50% committed
12 month runway
Fully deploy current customers + 3 additional
Proprietary & confidential20