INSUBCONTINENT EXCLUSIVE:
The second wave of Internet-era travel companies has captured the attention of venture capitalists.In the last five years, travel companies
have raised more than $1 billion in venture capital funding
Airbnb, a $38 billion company and an anomaly in the category, has raised $3 billion in that same time frame, according to PitchBook.In the
venture rounds that valued both of the businesses at more than $1 billion
Meanwhile, luggage maker Away raised $50 million at a $400 million valuation and smaller startups in the space like Freebirds, IfOnly,
employees earn extra points on business travel with its corporate credit card for startups
It recently raised a $125 million Series C at a $1.1 billion valuation.Global travel and tourism is one of the most valuable industries
General Catalyst when the firm made its first investment in Airbnb.On the other hand, you have a whole cohort of travel business founded
amid the dot-com boom that are looking to technology startups for a much-needed infusion of innovation
Many of those larger companies have become active acquirers, fueling VC interest in the space
SAP Concur, for example, acquired the formerly VC-backed travel-booking startup Hipmunk in 2016
both Pillow and ApartmentJet.Many of these acquisitions are for peanuts, which is far from ideal for a venture-funded company
industry are predicting an imminent turn in the market
companies like IfOnly, which sells curated experiences.Travel startups should raise now while the market is hot
The conditions may not remain favorable for long.
