HQ: Grasse, France
Category: Established Company
Principal(s): Valery Linyer, CEO; Slobodan Petrovic, COO; Charles Petruccelli, Board Advisor
Competitive Edge: Several hundred thousand apartments located worldwide, carefully selected for business travel: a duty towards care, personal data protection, instant booking, short and long stays, travel policy. Our apartments are managed by property managers and can be booked directly in the SBT, Concur or KDS - or on our ABT Weezard.
Early Customers: Major French groups such as Société Générale, Safran, Dassault Aviation, Michelin, Vinci, Scor, PwC, Havas Voyages, Sélectour.
Business Model: We take a commission on transactions (between 7 to 15%). Our various services (Weezard for business travel or Extendeez for long stays) are marketed by subscription to companies (SaaS model).
Competitors: Two major competitors: 2nd Address and Homelike. Airbnb is not a competitor for large companies that want to book in the SBT for security reasons.
Funding: We have already raised over $9M and we are working on a Series B.
Product Description: MagicStay lets you to book your apartments directly in the SBT (Concur or KDS) and also develops two software packages in SaaS mode. Weezard allows large companies to manage multiple travelers with different travel policies, payment via Airplus or Amex BTA, and traveler traceability (iSOS, iJet, SSF, etc.). Extendeez lets you to manage all real estate leases, with reminders of key deadlines and to integrate all suppliers (2nd Address, Homelike, Airbnb, real estate agencies or MagicStay).
Market Opportunity: A $300B market: Accommodation expenses account for c.25% of global business travel expenses (i.e., $1.3T); $27M - $110M average annual hosting expenses for each large French corporate (CAC40); Average basket per booking: $1,400 for 4.7 nights (except for long stays); For long-term leases, there is currently no high-performance software for companies to centralize information; The hotel offer is growing by 2.5% per year while the number of travelers is increasing by 5% per year.