Tripbtoz
Helping 7.5 billion people around the world to travel and discover new selves through travel, and is pioneering a new travel market that has never existed before.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
| N/A | KRW15.3b | Series B | |
| Total Funding | 000k | ||
| USD | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | 87 % | 4 % |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Tripbtoz, a South Korean online travel agency (OTA), was founded in 2016 by CEO Jiha Jung and officially launched its services in June 2017. Jung, who previously worked at Expedia and Hyundai C&I, established the company to simplify the hotel booking process. The company is headquartered in Seoul and operates as a platform that combines community features with travel commerce.
The core of Tripbtoz's business is its user-generated, short-form video platform, which allows travelers to discover destinations and share their experiences. This model caters to a market trend favoring video content. The company's business model is commission-based, earning revenue from bookings made through its platform, which includes approximately 870,000 accommodations worldwide. A key component of its strategy is the "Travel 2 Earn" (T2E) system, which rewards users with "Trip Cash" for posting videos and engaging with the community. This in-app currency can then be used to book future travel, creating a self-sustaining ecosystem. The platform also incorporates gamification elements, such as rankings and challenges, to drive user engagement. Another feature is a price drop refund policy, which refunds the difference in points if a hotel price decreases after a customer has booked.
Tripbtoz primarily serves self-guided tourists and has expanded its services globally. The company has shown significant growth, with transactions in the first half of 2023 reaching approximately 55 billion KRW. Since its inception, Tripbtoz has secured a total of $8 million in funding over one round, with its latest Series B funding in November 2021. The company has received multiple accolades, including the Minister of Culture, Sports and Tourism Award at the '2023 Tourism Venture Day' and the Prime Minister's Commendation at the 49th Tourism Day Ceremony in 2022.
Keywords: online travel agency, travel booking, user-generated video, short-form video travel, Travel 2 Earn, T2E, travel community, hotel booking platform, travel rewards, gamification, travel tech, South Korean startup, Jiha Jung, travel discovery, accommodation booking, travel metaverse, trip planning, travel content, travel influencers, global travel