Meet Ur Planet

Main Menu

  • Home
  • Plane boarding
  • Tourist guide
  • Hotel accommodation
  • Travel booking
  • Vacation rentals

Meet Ur Planet

Header Banner

Meet Ur Planet

  • Home
  • Plane boarding
  • Tourist guide
  • Hotel accommodation
  • Travel booking
  • Vacation rentals
Travel booking
Home›Travel booking›Travel booking platform Holisto merges with SPAC for a valuation of $405 million

Travel booking platform Holisto merges with SPAC for a valuation of $405 million

By Meg P. Sousa
June 14, 2022
0
0

Israel-based online travel booking platform Holisto and Moringa Acquisition Corp, a special purpose acquisition company (SPAC), have reached an agreement that would see Holisto listed on the Nasdaq. Holisto was valued at approximately $405 million as part of the deal.

Holisto is expected to earn $115 million from the merger, with the transaction expected to close in the fourth quarter of 2022.

Holisto is a technology-based online travel booking platform that uses artificial intelligence technology to analyze hotel rates and plans across multiple inventory sources, including online travel agencies, global distribution systems, wholesalers and hotel operators, to provide consumers with more affordable and personalized reservations. Holisto operates under several brands, including GoSplitty and Traveluro.

Holisto has seen its revenue increase significantly over the past year, but its Q1 2022 revenue still only reached $7.18 million, compared to $1.97 million for Q1 2021.

Holisto was founded in 2015 by Avi Wortzel, Eran Shust and Shay Horovitz, and has raised $9.3 million to date, according to Crunchbase. The company employs a total of 370 people.

“From the start, we were inspired by the opportunity to disrupt the large, fragmented and complex travel booking market, using advanced big data and artificial intelligence technologies that enable additional cost savings and simplicity. thanks to the ability to combine offers from multiple sources,” said Eran Shust. , CEO and co-founder of Holisto. “Our association with Moringa and access to public markets will allow Holisto to continue to aggressively leverage our technology by evolving our platform and infrastructure and expanding our customer acquisition and brand awareness. “

Ilan Levin, CEO and President of Moringa, and former CEO of Stratasys, added, “We are extremely excited to announce the merger with Holisto. Holisto innovates with advanced technology solutions in a vast global market that is ripe for transformation to benefit the consumer traveler. We look forward to our partnership and the opportunity to leverage our expertise as Holisto continues to rapidly expand its business. »

“The Holisto-Moringa SPAC combination is a very important step for Israeli technology and SPACs, after the drop we saw in the share prices of the companies that merged with too high valuations, everyone felt that the SPAC are no longer a valid vehicle, but this is an example of market disillusionment and marks the validity of reasonable, win-win deals,” said Adi Mimran, co-CEO of Fundem Capital who advised Holisto on the deal. .

Related posts:

  1. Latest Updated Report 2030 – Murphy’s Law of Hockey
  2. KLM Holidays: simplified travel booking for Belgian customers
  3. Is travel booking ready to fully embrace artificial intelligence?
  4. Travel booking scams emerge as summer vacation season approaches

Categories

  • Hotel accommodation
  • Plane boarding
  • Tourist guide
  • Travel booking
  • Vacation rentals

Recent Posts

  • Video of man smoking on plane goes viral
  • An exclusive report on the size of the payday loan services market Will
  • Fire escape plan reveals Air New Zealand’s top secret lounge with incredible benefits
  • Travis Barker “was afraid of heights” but is in love with Kourtney
  • Pilot reveals how to look and feel refreshed in flight

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • March 2018
  • February 2018
  • December 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • January 2017
  • December 2016
  • September 2016
  • August 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • November 2015
  • October 2015
  • August 2015
  • July 2015
  • June 2015
  • April 2015
  • June 2014
  • April 2014
  • March 2014
  • February 2014
  • August 2013
  • July 2013
  • April 2013
  • September 2012
  • March 2012
  • February 2011
  • June 2009
  • Privacy Policy
  • Terms and Conditions