Holisto News
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Trivago acquires Israeli traveltech firm Holisto for $40 million | CTech
Holisto, an Israeli traveltech company specializing in dynamic pricing and hotel room booking, has been acquired by Trivago for approximately $40 million. Holisto, founded in 2015, developed a system to optimize real-time hotel prices, offering competitive pricing. The acquisition follows a long-standing collaboration between the two companies, with Trivago having invested $10 million in Holisto a year prior. Holisto will continue to operate independently with its current team of 200 employees. The acquisition is part of Trivagos strategy to enhance its branded booking experience and drive growth.
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Holisto raises $10 million from travel giant Trivago | CTech
Holisto, an Israeli company specializing in price aggregation technology, has raised $10 million from travel company Trivago. This brings the total amount raised by the company to over $20 million. Holisto had planned to go public on Nasdaq via a SPAC in 2022, but the merger was canceled due to market conditions. The company will continue to operate independently with a team of about 250 employees in Israel and abroad. The investment will enable Holistos technology to provide advanced options for Trivagos users and business partners.
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Holisto LTD cancelled the acquisition of Moringa Acquisition Corp from Moringa Sponsor, LP and others.
Holisto LTD had planned to acquire Moringa Acquisition Corp from Moringa Sponsor, LP and others in a reverse merger transaction. The business combination was expected to result in a pro forma equity value of approximately $405 million for Holisto. However, on August 7, 2023, Holisto cancelled the acquisition. All rights and obligations of each party to the Business Combination Agreement ceased, except for those intended to survive such termination.
Acquisition
Globes and Statista rank Israel's 100 fastest growing companies
Holisto, an Israeli travel-tech company, has been named the fastest-growing company in the country, with an average annual growth rate of about 460% between 2018 and 2021 and revenue of $15.1 million. The company, which was founded in 2015, launched its product during the Covid pandemic, focusing on domestic tourism in the US. Despite the pandemic, the company saw significant growth. However, Holisto is set to merge with a SPAC company and start trading on the Nasdaq, which could lead to a sharp decrease in its trading value after the merger, as has been the case with many tech companies recently.
CustomersPublic Trading
Travel booking platform Holisto merging with SPAC at $405 million valuation CTech
Holisto, an Israeli-founded online travel booking platform, has entered into an agreement with Moringa Acquisition Corp, a SPAC, to become publicly listed on the Nasdaq. The deal values Holisto at approximately $405 million, with the company expected to net $115 million from the merger. Holisto uses AI technology to analyze hotel rates and plans across multiple sources, providing consumers with more affordable and personalized bookings. The transaction is set to close in Q4 2022. Holistos income has grown significantly, but Q1 2022 revenues were $7.18 million compared to $1.97 million in Q1 2021. The company was founded in 2015 and has raised $9.3 million to date. It employs 370 people.
Public Trading
Splitty Acquires Assets of Rival Company Cancelon
Hotel booking platform Splitty has acquired the assets of Cancelon, one of its rivals in the online travel market. Splitty aims to expand its global reach and create a distinctive OTA by merging the two companies and their approaches. Splitty has focused on developing proprietary technology to make hotel stays more affordable, while Cancelon has focused on marketing efficiency and has acquired millions of customers. The merger will allow Splitty to deliver unbeatable hotel deals to millions of travelers worldwide without the need for an enormous marketing budget. Splitty is a hotel booking platform that uses Machine Learning technology and has global coverage of over 500,000 properties in 127 countries.
Acquisition
OkToStay Launches to Help U.S. Travelers Book Hotels with COVID-19 Health and Safety Factors in Mind
Splitty Travel has launched OkToStay, an online resource providing cleanliness, safety, and COVID-19 response scores for hotel properties in the U.S. The platform assigns a score to each hotel based on various categories related to hygiene and safety. OkToStay aims to help travelers make informed hotel booking decisions during the pandemic. At launch, the platform offers scores for more than half of the hotel properties in the U.S., with plans to expand globally. Splitty Travel has raised a total of $10 million in funding from investors including Fuson, Techstars Ventures, Cockpit Innovation, and 2b Angels.
Customers
Splitty Travel Establishes U.S. Headquarters in Connecticut
Splitty Travel has announced the opening of its first U.S. office in Greenwich, CT. The office will serve as the companys U.S. headquarters and provide enhanced customer support for U.S. customers. Splitty Travel is an Israeli-based travel brand that reduces hotel costs by creating unbeatable hotel deals. Since its launch in April 2019, the company has experienced monthly booking growth of 30 percent and plans to expand further next year through a large funding round. Splitty Travel has been nominated by the World Travel Awards in the category of Worlds Leading Hotel Booking Website. The company is backed by Connecticut Innovations, which is the states strategic venture capital arm.
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Splitty Raises $6.75M in Series A Funding - FinSMEs
Israel-based hotel booking platform, Splitty, has raised $6.75 million in Series A funding. The round was led by Fosun RZ Capital, with participation from other investors. Splitty plans to use the funds to expand its team and accelerate its global market growth. The platform offers unique hotel prices by splitting and combining multiple bookings under one reservation. Currently operating in Europe and America, Splitty aims to expand its business in the Asian market after this funding round.
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Splitty raises $2.4 million for its hotel search platform
Travel tech startup Splitty has raised a seed round of $2.4 million from Techstars Ventures, Techstars Accelerator, AOL, and BIP Capital. Splitty aggregates different rates from various travel wholesalers and online travel agencies. The funding will be used for further product development. Splitty currently has partnerships with American Airlines and Trivago. The companys unique platform has the potential to disrupt hotel booking.
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Featured Israeli Company: Splitty Travel
Techstars Atlanta: Get to Know Splitty
Techstars Atlanta, in partnership with Cox Enterprises, has selected 10 companies for its 2016 class. Splitty, a participant in the program, offers a technology that combines different reservation types to find the cheapest hotel stays. Techstars Atlanta provides 90 days of rapid acceleration to boost entrepreneurs early stage business and product development efforts through education, mentorship, and funding. Techstars is a global ecosystem that supports entrepreneurs throughout their journey, from inspiration to IPO.
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