GetYourGuide,
the booking platform for incredible travel experiences, today announced
that it has raised $484 million in Series E financing led by the
SoftBank Vision Fund. The financing round was joined by co-investors
Temasek, Lakestar, Korelya Capital and Heartcore Capital (formerly
Sunstone Capital), while original investors such as Swisscanto Invest by
Zürcher Kantonalbank continued their support of the company. As part of
the investment, Ted Fike, Partner at SoftBank Investment Advisers, will
join GetYourGuide’s Board of Directors.
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GetYourGuide has sold over 25 million tickets to tours and activities through its platform (Photo: Business Wire)
The global market for tours and activities is expected to reach $183
billion in 2020 and represents the fastest-growing major segment of the
global tourism industry.1 To capture the market opportunity, GetYourGuide
plans to invest the Series E funding in broadening its global inventory
of experiences, deepening the capabilities of its platform to enhance
the discovery and booking experience for users, and expanding and
diversifying its marketing channels to reach millions of new travelers
around the world.
“Today’s consumers prioritize seeking and sharing experiences over
material possessions, and we expect this trend to accelerate in the
years ahead,” said Johannes Reck, CEO and co-founder of GetYourGuide.
“We’ve spent the past decade building a market-leading company around
our mission to give the whole world access to incredible travel
experiences. In the SoftBank Vision Fund, we’ve found a partner that
shares our bold mission and our long-term view of how this fundamental
consumer shift will impact global travel. We’re incredibly excited about
the journey ahead of us.”
The Series E financing comes at a time of significant growth and
evolution for GetYourGuide,
which has now sold over 25 million tickets to tours and activities
through its platform. In the past year, GetYourGuide was recognized by Fast
Company as a 2018 Most Innovative Company for expanding its mission
to redefine the in-destination experience through its signature line of
GetYourGuide Originals, exclusive branded products it has built from the
ground up in partnership with top tour operators. Originals have sold
over 40,000 tickets and have achieved 30 percent above average reviews
from customers since launching in August 2018. In the year ahead,
GetYourGuide anticipates continued expansion and innovation for
Originals, with at least 25 new destinations and significant product
enhancements slated for rollout.
Ted Fike, Partner at SoftBank Investment Advisers said, “Consumers,
especially millennials, are spending an increasing portion of their
disposable income on travel experiences. We believe GetYourGuide is
leading this seismic shift by consolidating the fragmented global supply
base of tour operators and modernizing access for travelers globally.
This combination creates powerful network effects for their business
that is fueling their strong growth. We are excited to partner with
their passionate and talented leadership team.”
The investment enables GetYourGuide
to accelerate its momentum toward building the world’s leading travel
experiences brand.
J.P. Morgan acted as placement agent, and Latham & Watkins and Walder
Wyss acted as advisors to GetYourGuide on this transaction.
1 Source: Phocuswright, “Tours & Activities Come of Age:
The Global Travel Activities Marketplace 2014-2020” 2017
About GetYourGuide
GetYourGuide
is the booking platform for incredible travel experiences. Travelers
use GetYourGuide to connect with the best things to do wherever they’re
headed — including skip-the-line tickets to the world’s most iconic
attractions, walking tours by top local experts, immersive food and
beverage tours, cooking and craft classes, bucket-list experiences, and
niche offerings you won’t find anywhere else. Since its founding in
2009, travelers from over 170 countries have booked more than 25 million
tours, activities, and attraction tickets through GetYourGuide. Powered
by a global team of over 500 travel experts and technologists, the
company is headquartered in Berlin, Germany and has offices in 14
countries around the world.
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