Go2Joy
An application that allows you to easily search for accommodations around you using location information and make quick reservations.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor investor | €0.0 Valuation: €0.0 4.2x EV/Revenue | round | |
| investor investor investor investor | €0.0 Valuation: €0.0 4.2x EV/Revenue | round | |
* | $1.1m Valuation: $12.5m 1.6x EV/Revenue | Series A | |
| Total Funding | 000k | ||
| USD | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 312 % | 129 % | 40 % | 80 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Go2Joy positions itself as a specialized hotel booking platform in Vietnam, focusing on the niche market of hourly and short-stay accommodations. Founded in 2016 by Simon Byun, a South Korean entrepreneur with a background at SK Telecom, along with co-founders Vesper Pham and Yongsun Jang, the company identified an unmet demand for flexible booking options among local customers in Vietnam. Initially launched in 2017 under the name Appro Mobile, the venture is headquartered in Ho Chi Minh City.
The core of Go2Joy's business is its mobile application, available on both iOS and Android, which connects users with a vast network of primarily 1 to 3-star hotels. The platform allows customers to book rooms by the hour, for a half-day, or overnight, catering to a need for privacy and convenience that traditional online travel agencies (OTAs) often overlook. This focus on the local market and short-term stays helped the company navigate the challenges faced by the broader tourism industry during the COVID-19 pandemic. Revenue is generated by charging a commission fee to hotel partners for each successful booking made through the app, ensuring hotels can optimize occupancy during off-peak times.
The Go2Joy app features a map-based search function, enabling users to find nearby hotels easily. It supports various online payment methods, including popular e-wallets in Vietnam like Payoo, MoMo, and OnePay, to facilitate seamless transactions. For its hotel partners, Go2Joy provides a simplified property management system (PMS), accessible via a web portal and a dedicated partner app, to manage bookings efficiently. The company has secured significant funding to fuel its growth, raising a total of $6.1 million over several rounds, including a Series A+ round. These funds are earmarked for enhancing technology, such as implementing an automated room recommendation system, and for market expansion, with plans to enter markets like Thailand and the Philippines.
Keywords: hourly hotel booking, short-stay accommodation, Vietnam travel tech, online travel agent, mobile booking app, Go2Joy, Simon Byun, hotel reservation platform, flexible booking, local hotel market, Ho Chi Minh City startup, property management system, OTA Vietnam, Payoo, MoMo, OnePay, Series A funding, travel technology, Southeast Asia expansion, hotel occupancy optimization