OLSET
Big Data for Personalized Travel Booking
website: olset.com
WHAT WE DO
We’ve built a big data engine that improves hotel booking conversion for online travel agencies (Expedia, Kayak, etc.) by up to 20%. We analyze numerous data sources to determine which hotels a site visitor is most likely to be interested in, and we display those first. We also aggregate hundreds of millions of online hotel reviews to become the only service that not only tells guests whether a hotel has wifi or a pool, but also if past guests generally enjoyed them.
OUR AMBITION
Quite simply, travel sites that use OLSET will win and the others will be forgotten. Products that don’t evolve die – and customers use travel sites that surface the best results. Our 20% conversion increase demonstrates that we do give customers better results. We think we’ll be a must have for any travel site wanting to stay relevant. After we’re used by most of the $200B hotel booking market, we’ll expand to other industries. Yelp has already reached out to apply our software to restaurants.
Over 20% conversion increase in hotel bookings.
Top 25 potential clients each generate more than $1B in travel bookings.
One early pilot on track for $1M monthly revenue increase with Olset.
Data includes 50 million online reviews and 500,000 hotels.
Founder orchestrated $200M acquisition of previous Big Data company.
Select investors: Amadeus (world’s largest travel data system), 500 Startups, XG Ventures, Montage Ventures.
DOCUMENTS
OLSET_Pitch_Deck.pdf
WHY WE LIKE OLSET
I like brilliant technical teams that bring big data to industries that haven’t had access to it. OLSET is doing this, and their pilot data proves it works. They’ve increased hotel bookings by 20% in one pilot, and their customers are so pleased that they’re implementing OLSET across their web properties. One pilot, Odigeo, stands to increase revenues by over $1M per month. Another – $20B travel giant Amadeus – has invested in two rounds.
The product works and it’s selling. $8B Sabre just signed up, and BCD which generates $25B in bookings / year has started an integration. They still need to… READ MORE
Mike Norman
WEFUNDER STAFF
THE BUZZ ABOUT OLSET
We are very impressed with OLSET’s personalization solutions. Their unique approach can be a game-changer in the travel industry and help OTAs and TMCs significantly improve hotel conversions.
Suzanna Chiu
Head of Amadeus Ventures, Amadeus IT Group
OLSET is about to change how we all travel. What an amazing opportunity making business travel a more enjoyable experience. Great team and great leadership.
Oren Stern
Investor and Senior VP at Verint-Systems
THE NUMBERS
OLSET just launched a few months ago with two pilot clients. Both of which have signed up as paying customers – rolling out OLSET across their entire infrastructure. OLSET also just signed up some of the largest OTAs in the world.
~21%
Conversion uplift
<1%
Typical conversion for travel sites
50M
Online reviews analyzed for sentiment database
48hrs
Integration time for OLSET
+$1M
Proj. revenue increase for early customer
$150k
Revenue / month to OLSET from same customer
25 Companies
Each generate more than $1B / year in travel bookings
SLIDE DECK
Download the entire slide deck as a PDF.
INTERVIEWS, PRODUCT DEMO, AND 500 STARTUPS DEMO DAY
See Gad (CEO) discuss OLSET in these video demos.
MEET THE FOUNDERS
Gad Bashvitz
CEO
Helped Merced get acquired for $200M. Founder of Call Vision. 15 years in Big Data. Over 2M miles flown. Fluent in four languages. NYY and Univ. of Tel Aviv alum.
Amyn Sheriff
CTO
Founder of Hydil. Senior Engineer at Zynga, TellMe (Acq. by Microsoft $800M), and Travelocity. Lead Architect at Microsoft.
AND THE REST OF THE TEAM
Eric Wu
Sr. Developer
Akshay Arabolu
Head of Product
Kathryn Lewis
Software Engineer
Brian Harniman
Advisor / Managing Director, Brand New Matter, Inc
Donna Petkanics
Attorney
Tom Romary
Advisor / Strategic Partnerships at Lending Club
Ellen Keszler
Advisor/ Travel Technology Expert
Herve Sedky
Advisor
Steve Bennet
Advisor /Angel Investor, Professor and CFO
Evan Konwiser
Advisor / VP Digital Traveler at American Express
Andrew Lee Miller
Marketing Director
International early-stage startup growth specialist
Yupeng Kong
Data Scientist
Phillip Long
Front-end Developer
Kai Laurinolli
Sr. Software Engineer
Stephen Roulac
Advisor
World’s leading auth. on places, their competitiveness, and productivity, combining innovation, creativity, entrepreneurism as trusted strategist.
RAISED $2,248,140 FROM 19+ INVESTORS
FUNDING HISTORY
500 Startups
500 Startups is a seed accelerator and related investment fund McClure founded in 2010 by Google and Paypal former workers.
XG Ventures
Group that does Seed and Early Stage Venture Investments. Founded by former google employees.
Amadeus IT group
World’s largest GDS and one of the largest travel technology providers globally. 195 countries served. 440 million bookings yearly.
Montage Ventures
18 Investments in 13 Companies. Invest from very early stage on startups.
Wilson Sonsini investment company
The fund was formed in 1978.Venture Capital that does Seed, Early Stage Venture, and Later Stage Venture Investments.The fund was a pre-IPO investor in Google, Brocade,Juniper Networks and Avanex.
Leo Polovets
Leo was the 2nd engineering hire at Linkedin,early engineer at Factual, and an ex-Googler, specializing in machine learning. Placed 5th in ‘01 Top Coder Invitational programming’ competition.
Summary: We’ve built a big data engine that improves hotel booking conversion for online travel agencies (Expedia, Kayak, etc.) by up to 20%. We analyze numerous data sources to determine which hotels a site visitor is most likely to be interested in, and we display those first. We also aggregate hundreds of millions of online hotel reviews to become the only service that not only tells guests whether a hotel has wifi or a pool, but also if past guests generally enjoyed them.Youtube: https://youtu.be/qDdho0f9pNESee Campaign: https://wefunder.com/olsetContact Information:Gad Bashvitz
CEOTags:wefunder, News Category, United States, Equity, English, North America, Global Regions, Crowdfunding, LanguageThe post OLSET: Big Data for Personalized Travel Booking appeared first on iCrowdNewswire.
Source: Icrowdnewswire
