FEATURES AND ADVICE
Klarna & Inspirock | October 25, 2021
Klarna, a leading global retail bank, payments and shopping service, is bringing its signature smoooth experience to the travel sector with the acquisition of Inspirock, an online trip planner that enables consumers to quickly and easily explore a destination's offerings and create personalized itineraries utilizing local expertise and artificial intelligence.
Over 25 million travelers a year use Inspirock to plan trips tailored to their interests or find inspiration on where to go and what to see. Klarna will integrate Inspirock's capabilities to allow Klarna's 90M users to plan and shop for a trip and pay for it in installments - all through the Klarna app. In addition, Klarna aims to save its customers hours of planning for the typical vacation by using Inspirock's technology.
By bringing Inspirock to Klarna, we are bringing the best of Klarna's smoooth customer experience to the travel sector. For customers, this makes the whole journey from inspiration to planning and preparing for a trip simpler, less stressful and more fun, while enabling our retail partners to better reach and engage with their audiences by offering more personalized content. It's a natural extension of the benefits Klarna brings to payments and shopping.
-Klarna CEO and Co-Founder, Sebastian Siemiatkowski
Inspirock's technology also enables Klarna to offer additional advertising and marketing opportunities to its growing network of over 250,000+ retail partners, helping them to reach high-intent shoppers with more curated and personalized content catered to their travel plans and preferences.
"We are excited to bring simpler, easier trip planning to Klarna's 90m global consumers. Our goal at Inspirock has been to make planning a trip fast, fun and easy. Together we can deliver on Klarna's ambitions of providing a smooth shopping experience to the travel space in an innovative way. Klarna and Inspirock together can bring great inspiration, tools and shopping experiences, making planning the trip as fun as the actual trip itself."
-Anoop Goyal, CEO and Co-Founder of Inspirock
Klarna's marketing solutions include Comparison Shopping, an AI-driven styling engine, a virtual shopping platform, and an influencer marketing and measurement platform. Together, these services will help consumers make informed decisions about purchasing the products they want from the retailers they love at the best price.
Travel is a huge global e-commerce market with strong predicted growth. 66% of global travel bookings are made online and this is expected to grow to 72% by 2025, creating a market worth a projected $833bn1. As Covid restrictions ease in many regions and travel plans are back in the calendar, Klarna research has shown that 21% of people put travel at the top of their list of categories they are going to splurge on in 20212.
We make shopping smooth. With Klarna consumers can buy now and pay later, so they can get what they love today. Klarna's offering to consumers and retailers include payments, social shopping, and personal finances. Over 250,000 retail partners, including H&M, IKEA, Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch, Nike and AliExpress have enabled Klarna's innovative shopping experience online and in-store. Klarna is one of the most highly valued private fintechs globally with a valuation of $45.6 billion. Klarna was founded in 2005, has over 4,000 employees and is active in 17 countries. For more information, visit klarna.com.
FEATURES AND ADVICE
Cvent, American Express Global Business Travel | September 06, 2021
In an effort to gather and standardize data related to corporate social responsibility efforts at hotels, American Express Global Business Travel (GBT) and Cvent have created new questions for suppliers to answer as a supplement to the Global Business Travel Association’s request for proposals template.
The joint initiative includes 47 questions focused on sustainability, diversity, equity and inclusion that are intended to help travel managers evaluate suppliers on these issues. To develop the questions, GBT’s Global Business Consulting team (GBC) and Cvent interviewed corporations, global hotel brands, travel management companies and consultancies.
The companies say along with helping travel managers evaluate hotels, the questions benefit hotels by reducing the time needed to respond to individual requests for information on these topics.
“As we accelerate the return to travel and events, customer requests for supplier data on corporate responsibility issues are soaring,” says Nina Marcello, a principal within GBC who first proposed the initiative.
“Together, GBC and Cvent worked with stakeholders across corporate and meetings travel to deliver a solution that will increase the availability of relevant sustainability and DE&I data. This initiative reflects our own environmental, social and governance commitments and enables suppliers and travel managers around the world to further their corporate responsibility goals.
” Hotel suppliers answer the supplemental questions, related to things such as carbon emissions and leadership demographics, within the Cvent Transient solution. Hotel chains can also work with their properties to collect and import the information to their profiles.
“The speed at which we developed these questions reflects the significance of this work, and they are already being used by our hotel clients. This initiative benefits the entire corporate travel supply chain by facilitating the sharing and reporting of important topics that impact every organization,” says Brian Sullivan, senior director of product management at Cvent.
Iteris | December 08, 2020
Iteris, a global leader in smart mobility infrastructure management, has agreed to acquire TrafficCast International that gives travel information technology, for $16 million.
Madison, Wisconsin-based TrafficCast recorded following 12-month of $14.6 million and changed EBITDA of $1.2 million for the period ending September 30, 2020. Around 60% of the organization's complete sales is identified with its software product items and is accounted for as annual recurring revenue.
TrafficCast works two lines of business – commercial and public area – every of which contributes around 50% of total revenue.