FunNow

FunNow operates as an on-demand lifestyle booking platform, focusing on the spontaneous, last-minute booking market for leisure and entertainment activities. The company was founded in 2015 by a group of partners, including Ting-Kuan (TK) Chen (CEO), Chia-Chen (CC) Chang (Chief Global Strategist), Szu-Chi Lee (CMO), and Pei-Yi Sun (COO). The founding team, inspired by the Dutch way of life, aimed to solve the hassles associated with traditional booking processes after experiencing their own frustrations with queuing and reservation difficulties. CEO TK Chen brought experience as a technology sector analyst in the financial industry, which informed the company's data-driven approach.

The business serves urban consumers and travelers who value flexibility, offering instant reservations for a wide array of services including restaurants, bars, beauty and wellness treatments, hotels, and nightlife entertainment. FunNow's business model is centered on a mobile application that provides real-time availability and dynamic pricing. Revenue is generated through commissions on bookings made via the platform. By allowing merchant partners to manage their availability and pricing, the platform helps them monetize off-peak hours and reduce idle capacity. The platform has expanded its operations across several cities in Asia, including Taipei, Hong Kong, Kuala Lumpur, and Tokyo, through a strategy that includes strategic acquisitions. A key milestone was its 2020 acquisition of TABLEAPP, Malaysia's leading restaurant reservation platform, significantly expanding its dining network.

The core service is an instant booking app available on iOS and Android, which uses geolocation technology and a patented algorithm to show users available slots in their vicinity in near real-time. Users can discover, book, and pay for an activity within 30 seconds, often for experiences available within the next 15 minutes. The platform's use of AI-driven dynamic pricing adjusts costs based on demand, time, and user behavior, aiming to offer competitive prices to users while maximizing revenue for merchants. The company has successfully raised a total of $21.5 million over four funding rounds, with notable investors including Alibaba Entrepreneurs Fund, NEC Capital Solutions, and Ascendo Ventures. This financial backing has fueled its expansion into new markets and supported the continuous development of its technology.

Keywords: instant booking, on-demand services, lifestyle app, leisure activities, last-minute reservations, dynamic pricing, mobile booking, restaurant reservations, spa booking, entertainment platform, Asia travel tech, urban leisure, geolocation booking, real-time availability, activity discovery, travel marketplace, nightlife booking, wellness services, local experiences, mobile commerce