GetYourGuide

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GetYourGuide
Private
IndustryTourism
FoundedJune 2008 in Zurich, Switzerland
Founders
  • Johannes Reck
  • Tao Tao
  • Tobias Rein
  • Martin Sieber
  • Pascal Mathis
  • Jochen Mattes
Headquarters,
Area served
Worldwide
Key people
Johannes Reck (CEO), Tao Tao (COO)
ProductsInternet booking engine
Number of employees
450 (Q1, 2019)
Websitegetyourguide.com

GetYourGuide is a privately held global company headquartered in Berlin, Germany that operates an online marketplace and internet booking engine which is accessible via its website and mobile app.[1]

Product overview[edit]

GetYourGuide's global inventory includes tours and excursions, activities like cooking classes, and tickets to numerous tourist attractions.[2] It currently offers more than 40,000 products in destinations around the world.[3] GetYourGuide acts as an online platform for third-party companies to list their products for users to easily find. Businesses offering sightseeing tours, adventure activities, multiple day tours, attractions passes, and other products can upload and manage their products under their own brand. Customers can book these products directly on the website as well as through iOS and Android Apps or through its distribution network.[4]

History[edit]

2007[edit]

The idea for GetYourGuide was conceived in 2007 by co-founders Johannes Reck and Tao Tao. When traveling to Beijing for a student conference with ETH MUN, they found navigating a foreign city as tourists to be difficult. Drawing on that experience, a business plan was developed for a peer-to-peer Internet platform that connected tourists with amateur guides. Later, it was expanded and refined to be an internet booking platform through which travelers could book professional tours and activities in major cities around the world.[5][6]

The company was initially funded by the founder's parents and relatives. As it grew, there was difficulty in raising capital, in part because the concept was new, information on the size and complexity of the market segment was scarce, and there was no business model or demonstrable path to success. While many European investors balked at the idea, American investors were attracted to the concept, because it represented what they felt to be a good business idea, with no competition.[7]

The business model for GetYourGuide stipulates that it does not offer its own tours or activities, but rather, acts as a mediator between customers and providers. The service is free for customers, but the provider of the tour has to pay GetYourGuide a percentage of its revenue. An online customer review system enables potential customers to assess the quality of tour providers. Additionally, GetYourGuide removes providers who consistently get bad reviews from its inventory.[8]

2013[edit]

In January, when GetYourGuide announced $14 million in Series A funding, one of the goals was to develop its mobile apps. In October, it launched apps for iOS and Android. The app could pull in info on more than 23,000 tours & activities from 2,200 global destinations then available on the GetYourGuide’s platform , presenting them initially as a stack of thumbnails. The app is also able to detect the user’s location, and make relevant suggestions.

In April, GetYourGuide purchased rival Gidsy, which had also been developing mobile apps. The acquisition absorbed Gidsy’s team of 12 developers, bolstering GetYourGuides's apps push with relevant experience.[9]

2017[edit]

As a spin-off of ETH, GetYourGuide was initially headquartered in Zurich. The new company relocated its headquarters in 2012 to Berlin, where office space was more affordable and readily available. The German capital was also one of the focal points of the still young European startup ecosystem. An office in Zurich was maintained primarily for engineering teams.

More recently, GetYourGuide has expanded its engineering operations in Zurich, bolstered by the talent pipeline of ETH, as well as the presence of Google, which employs 2000 in its local office. In October 2017, GetYourGuide opened a new engineering office in Zurich.[10]

In November, GetYourGuide announced a $75 million Series D funding round raised to help support expansion in Asia and the Americas, and soon after, added traditional Chinese, Japanese, Russian and Mexican Spanish as supported languages for its global inventory. Earlier in the year, regional offices were opened in Hong Kong and Bangkok. These additions brought the total number of languages supported on GetYourGuide to 18.[11]

2018[edit]

In August, GetYourGuide began selling tours under its own brand name. The company mined its data on customer preferences from having sold 15 million tours since its founding nearly a decade ago. From that information, it developed standardized criteria for how to best run a tour. To be labeled a GetYourGuide tour, an operator must agree to follow its best practices regarding meeting points, check-in processes, starting times, duration, and other factors. In return, the retailer will send more customers the operator’s way.[12]

Udi Nir was hired by GetYourGuide in July as CTO. Nir previously held VP Engineering and CTO posts at shopping websites Instacart and ModCloth respectively.[13]

In August, GetYourGuide broke the threshold of one million bookings per month for the first time. One month later, the company recorded another milestone in crossing the threshold of 20 million tickets booked since the launch of its current platform in 2009. [14]

In September, GYG announced that Sharon McCollam, formerly head of finance at consumer electronics retailer Best Buy, is being appointed to the board of directors.[15]

2019[edit]

In April 2019 GetYourGuide raised €484 million investment from SoftBank. This infusion of capital raised its valuation above the $1 billion mark.[16]

Corporate information[edit]

Acquisitions[edit]

As GetYourGuide has grown, the company has made two acquisitions.[17]

  • Gidsy, acquired on April 26, 2013[18]
  • iGottaGuide, acquired July 2013[19]

Partnerships[edit]

GetYourGuide has ancillary revenue partnerships with hundreds of airlines, hotels, transportation networks and online publishers, through which those businesses' customers can directly access its global inventory of tours & activities.

Former[edit]

Current[edit]

Office locations[edit]

GetYourGuide maintains its headquarters in Berlin, and engineering offices in Zurich. 14 additional sales offices are maintained in: Sydney, Vienna, Paris, Hong Kong, Rome, Dubai, San Francisco, New York City, Bangkok, Cape Town, Barcelona, London, Rio de Janeiro and Tokyo.

Since 2012, GetYourGuide’s corporate headquarters have been located in the former Goldpunkt shoe factory in Berlin’s Prenzlauer Berg neighborhood. Plans are underway for a 2019 move to a former electrical substation built in the 1920s in Berlin’s Prenzlauer Berg neighborhood. The renovated office will offer 11,700 m2 of floor space, with room for a headcount of 800.[28]

References[edit]

  1. ^ Alice Jong (July 2017). "Travel Activities Market to Reach $183 Billion by 2020". Phocuswright. Retrieved 2018-11-21.
  2. ^ Kolodny, Lora. "GetYourGuide Finds You Leisure Activities at Your Travel Destination". The Wall Street Journal. Retrieved 15 March 2014.
  3. ^ Dill, Kathryn: "Up-And-Comers: Travel Guides". Forbes. Retrieved 17 March 2014.
  4. ^ Williams, Greg. "Europe's hottest startup capitals: Berlin". European Startups. Wired.co.uk. Retrieved 15 March 2014.
  5. ^ Rasso Knoller (October 19, 2018). "Zeig mir deine Welt". Forum. Retrieved 2018-11-21.
  6. ^ ETH MUN (October 3, 2007). "AIMUN 2007". Blog. Retrieved 2018-12-29.
  7. ^ Rasso Knoller (October 19, 2018). "Zeig mir deine Welt". Forum. Retrieved 2018-11-21.
  8. ^ Rasso Knoller (October 19, 2018). "Zeig mir deine Welt". Forum. Retrieved 2018-11-21.
  9. ^ Natasha Lomas (October 9, 2013). "After Raising $14M In January, Travel Startup GetYourGuide Launches Its First Mobile Apps". TechCrunch. Retrieved 2018-11-21.
  10. ^ Daniel Imwinkelried (October 31, 2017). "Zürich-Berlin hin und zurück". Neue Zurcher Zeitung. Retrieved 2018-11-21.
  11. ^ Phil Davies (Nov 30, 2017). "GetYourGuide expands global language capabilities". Travolution. Retrieved 2018-11-21.
  12. ^ Sean O'Neill (June 18, 2018). "GetYourGuide Will Market Some Tours and Activities Under Its Own Brand". Skift. Retrieved 2018-11-21.
  13. ^ Aaron Hurst. "GetYourGuide hire new CTO and engineering executives". Information Age. Retrieved 2018-11-21.
  14. ^ "GetYourGuide knackt Millionengrenze". Unternehmer Zeitung. May 10, 2018. Retrieved 2018-11-21.
  15. ^ "Frau McCollam bringt Touristen auf Touren". Handelszeitung Management. October 22, 2018. Retrieved 2018-11-21.
  16. ^ Ingrid Lunden (May 16, 2019). "GetYourGuide picks up $484M, passes 25M tickets sold through its tourism activity app". TechCrunch. Retrieved 2019-06-04.
  17. ^ "List of GetYourGuide's 2 Acquisitions, including iGottaGuide and Gidsy". TechCrunch. Retrieved 2018-11-21.
  18. ^ "Gidsy acquired by GetYourGuide". TechCrunch. Retrieved 2018-11-21.
  19. ^ "iGottaGuide acquired by GetYourGuide". CrunchBase. Retrieved 2018-11-21.
  20. ^ "AIR BERLIN MIT NEUEN KOOPERATIONSPARTNERN". EUROPEAN-AVIATION.NET. December 3, 2016. Retrieved 2018-11-21.
  21. ^ "GetYourGuide und TUI setzen ihre Kooperation fort". e-Commerce News. July 1, 2014. Retrieved 2018-11-21.
  22. ^ Timo Kotowski (September 14, 2018). "So will TUI zur führenden Plattform für Ausflüge werden". Frankfurter Allgemeine. Retrieved 2018-11-21.
  23. ^ Kevin May (September 24, 2014). "Auf wiedersehen, GetYourGuide - TripAdvisor starts trimming suppliers of tours and activities". PhocusWire. Retrieved 2018-11-21.
  24. ^ Sean O'Neill (May 10, 2017). "GetYourGuide Gets a Tours Booking Boost With EasyJet Deal". Skift. Retrieved 2018-11-21.
  25. ^ Marisa Garcia (September 21, 2017). "KLM partners with GetYourGuide for mobile booking of tours and activities". PhocusWire. Retrieved 2018-11-21.
  26. ^ "GETYOURGUIDE KOOPERIERT MIT INTERRAIL". Travelrail. May 22, 2018. Retrieved 2018-11-21.
  27. ^ "Leonardo Hotels kooperieren mit Get Your Guide". BizTravel. November 30, 2017. Retrieved 2018-11-21.
  28. ^ Dominik Bath (March 9, 2018). "Get your Guide plant neuen Campus in Berlin". Berliner Morgenpost. Retrieved 2018-11-21.

External links[edit]