Product Description: FareStructure uses proprietary algorithms to split a multi-city ticket into a series of one-ways and open jaws, substantially lowering ticket cost. FlexTrip reorders destinations to find additional cost savings, while automatically split-ticketing. SmartMarkup uses machine learning to balance markups and conversions to maximize profit. Travel agencies have been issuing multi-city trips on multiple PNRs and switching the order of destinations for years; we bring this offline experience online.
HQ: Halifax, Nova Scotia
Product: Trip Ninja
Category: Startup Company
Principal(s): Andres Collart, CEO; Brett Ziegler, COO; Rob Dumont, CTO; Julieta Collart, Business Strategy
Competitive Edge: We exclusively use our partners' content. This means that they are fully in control of the traveler experience from itinerary creation to booking. We are solely B2B so we'll never compete against our partners for bookings.
Early Customers: Our early customers are mid-sized OTAs and offline agencies, although we're currently integrating with several of consolidators as well.
Business Model: We operate under a partnerships-based business model. We query data sources, construct itineraries and set markups using machine learning. For OTAs and consolidators, we then revenue-share on that markup. For offline agencies, our commercials are more malleable.
Competitors: Key competitors are Kiwi.com and internal development teams. Although our algorithms are complex, given enough resources, teams could see some benefits.
Funding: We've received venture capital and angel funding.
Market Opportunity: Although multi-city itineraries are typically only between 15-30% of bookings generated, they're typically a much higher percentage of total profit. Most OTAs aren't generating competitive multi-city itineraries, leaving a gap in the market. When multi-city itineraries are generated on a single PNR, the prices are usually substantially higher - by hundreds of dollars on average - than split-ticketed itineraries. This leaves potentially hundreds of thousands of dollars of revenue on the table.