OLSET

OLSET, pronounced "All-Set", operated as a software technology firm specializing in the travel industry. The company was founded by Gadi Bashvitz, a tech entrepreneur and big data veteran, alongside Amyn Sheriff, an experienced technologist and travel expert. Bashvitz's personal experience, having traveled over 2.1 million miles, directly inspired the company's mission to simplify and expedite the travel booking process.

The core of OLSET's business was its proprietary technology which leveraged Big Data, Natural Language Processing, and Machine Learning. This technology was designed to analyze millions of hotel reviews, extract consumer sentiment, and personalize travel recommendations. The primary business model was licensing this technology to major travel providers, such as online travel agencies and travel management companies, to help them increase booking conversion rates and improve hotel attachment rates for corporate clients. By tailoring results to a traveler's specific interests at the point of purchase, OLSET's partners could enhance profitability. The system worked by collecting data on traveler preferences to simplify hotel choices for future trips, demonstrating the potential to increase hotel attachment rates by 5 to 10 percent.

In October 2016, OLSET was acquired by Deem, a business travel technology company. The acquisition was driven by Deem's desire to integrate OLSET's machine learning and artificial intelligence capabilities into its platform to improve hotel recommendations for its corporate clients, which included prominent names like American Express Global Business Travel. Following the acquisition, OLSET's team, including founder Gadi Bashvitz, joined Deem to continue developing the technology within the new parent company's structure. Prior to its acquisition, OLSET had received funding from several investors, including Montage Ventures, Plug & Play Tech Center, GVA Capital, XG Ventures, and 500 Startups.

Keywords: OLSET, travel technology, Gadi Bashvitz, Amyn Sheriff, Deem Inc., hotel recommendation engine, machine learning, natural language processing, travel personalization, sentiment analysis, booking conversion, corporate travel, travel management company, hotel attachment rates, big data travel, CinchTravel, HotelMatch.me, online travel agency solutions, travel tech acquisition