TripFactory is a travel technology platform that organises the world’s travel knowledge and products, offers unbiased advice, presents a wide range of travel products at best prices directly sourced from travel companies, and provides a personalized shopping and booking experience.TripFactory platform enables customers to browse travel products using semantic search technology. For example, a traveler can search for ‘Fly from Delhi to Dubai and stay in a 5 star hotel under Rs 40,000’. The platform powers the holiday portals of airlines such as SpiceJet, Air Costa and GoAir. With an offering of over 100,000 travel products and packages, TripFactory aims to become the largest online travel store globally. Launched in 2013, TripFactory aims to revolutionise the travel industry with its superior technology that not only brings offline travel companies to the online world, but also creates a win-win situation by bundling travel products from suppliers in the most efficient way.
Replying to Yash Ved of IIFL, Vinay Gupta says “We are currently in the process of growing our relationship with existing airlines in India and growing the ancillary revenues for them.We will be investing on technology tools over the next few years.”
Brief us about your business model?
TripFactory is a travel platform that aims at organising the world’s travel knowledge, products and operators on a single platform. It’s like Facebook of Travel, where an operator, who is verified, can create a page on TripFactory and add his/her products and services.
We want to be the single source of truth for travel by enabling airlines, tourism bodies, operators and hospitality folks by creating the first collaborative platform in travel.
For the first time, travelers can create personalized experiences, browse, and chat with operators and book travel all online with great convenience from anywhere to anywhere globally. They can find all the tourism information they are looking for in a single place, whether it is things to see, eat, do – all are personalized to the taste of the individual.
TripFactory’s superior technology provides the most powerful integrated shopping and booking experience.
Our travel search engine:
Most powerful travel search experience on the planet
Our platform uses semantic technology, so customers can type as they speak. Eg: “fly from kochi to male and stay in a 5 star on 24 oct for 2 nights under 100000 for 2 people”.
Amazon-like shopping experience:
Recommendations like Amazon based on what users are looking at and their past behavior and history. Eg: Similar packages with more meal options, better stay or more nights
Tools that enable product categorization and segmentation. Eg: Best Sellers, Honeymoon Favorites, For Adventure Lovers etc
Tools that enables tourism boards and experts to showcase relevant content to users based on geography, ethnicity or demographics. Eg: What do vietnamese couples prefer to eat in Johor Bahru
Tools that enable experts, airlines, hotels and travel suppliers to target different user segments and behaviors with unique prices. Eg: A 4th time repeat consumer sees a different price for same destination vs show a different price to a family of 4 or more
The platform distributes its content by powering the websites of airlines such as SpiceJet, Air Costa and GoAir.
Currently, the platform offers over 100,000 travel products and it aims to become the largest online travel store globally.
What outlook do you see for Indian travel industry?
With new entrants such as AirAsia India and Vistara hitting the Indian airspace, the competition in Indian airline industry is intense than ever. Also, with attractive discounted offers from airlines, FCCs as well as LCCs , customers have more travel options and a compelling reason to fly and explore places.
When it comes to the holiday packages market, it is slowing maturing and customers are increasingly booking their packages online, which was predominantly an offline business earlier.
Mobile has already crossed about 40% of total traffic and bookings in some travel companies. With smartphones and mobile data plans becoming cheaper in India, there is all the more reason for mobile to become the number one channel in terms of traffic and bookings in near future.
Brief us about your partnership with Air Costa?
TripFactory is powering the holiday portal (aircosta.tripfactory.com) of Air Costa, a Vijayawada-based airline. With this partnership, customers of Air Costa will now be able to book holiday packages and hotels combined with flights at very attractive prices.
This new website gives the airline an additional revenue source, enables the airline to serve its customers better by offering non-air products that the customer would have anyway purchased from other travel service providers.
TripFactory is managing the content and technology behind this new portal.
What are your expansion plans going forward?
We are currently in the process of growing our relationship with existing airlines in India and growing the ancillary revenues for them. We are also working on a number of interesting initiatives that we will rollout at the right time.
Comment on your Capex plans?
We will be investing on technology tools over the next few years.
What will be your revenue model?
We make a fee on the product sold.
Who are your competitors?
TripFactory is the first kind of its collaborative platform in travel where all stakeholders can participate and benefit. We believe there is no competition as of date that exists for us.