Editing Porter
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[[File:Porter logo.jpg|thumb|Porter logo]] | [[File:Porter logo.jpg|thumb|Porter logo]] | ||
== Summary == | |||
* Launched v1 of Porter with a global supply of 300k hotels | |||
* Strong initial traction with over 4,000 early-stage users | |||
* Launched | |||
* Strong initial traction | |||
* Talented leadership and advisors (IHG, Admiral, GoCompare) | * Talented leadership and advisors (IHG, Admiral, GoCompare) | ||
* | * Being supported by Transport for Wales and Google for Startups | ||
<vimeo>711585667</vimeo> | <vimeo>711585667</vimeo> | ||
== Operations | == Operations == | ||
Porter is a company that wants to make travel booking better. It's building a travel site, designed to make the whole process of travel as simple and enjoyable as possible, from discovery and booking, through to experiencing and enjoying. | Porter is a company that wants to make travel booking better. It's building a travel site, designed to make the whole process of travel as simple and enjoyable as possible, from discovery and booking, through to experiencing and enjoying. | ||
In the UK, 43% of | In the UK, 43% of holidaymakers spend more time planning their holiday, than time away. | ||
You start your search with a rough idea of what you're looking for, and then you're overwhelmed with thousands of results and irrelevant information. It's no wonder that 1 in 3 UK travellers suffer from shoppers anxiety. | |||
That's where we come in. | |||
We're building a digital travel companion, that's with you throughout your travel experience. | |||
So what does that mean? | |||
Based on your personal preferences, we provide smart recommendations, perfectly matched to you. | |||
Our smart recommender system allows us to plug in thousands of data points and options, and turn that into a shortlist of the results we think are right for you. | |||
== Key accomplishments to date | == Key accomplishments to date == | ||
* Version 1 of Porter launched, focusing on hotel recommendation and booking. | * Version 1 of Porter launched, focusing on hotel recommendation and booking. | ||
* Grown to a global supply of 300k hotels, thanks to | * Grown to a global supply of 300k hotels, thanks to our accounts with Impala and Hotelbeds. | ||
* Over 3,000 early-stage users, and growing. | * Over 3,000 early-stage users, and growing. | ||
* Talented team assembled with experience spanning tech, UX, product and marketing. | * Talented team assembled with experience spanning tech, UX, product and marketing. | ||
* Advisory team with travel expertise and travel exits. | * Advisory team with travel expertise and travel exits. | ||
* Accepted onto the Welsh Government's Accelerated Growth Programme for high growth potential businesses, the Natwest Accelerator, the Tramshed Tech Startup Academy, and just awarded a place on the Transport for Wales Accelerator programme. | * Accepted onto the Welsh Government's Accelerated Growth Programme for high growth potential businesses, the Natwest Accelerator, the Tramshed Tech Startup Academy, and just awarded a place on the Transport for Wales Accelerator programme. We're also participating in the Tech Export Cluster being run by Tramshed, Welsh Government and Impact Innovation. | ||
* Recently won a demo day pitching competition which resulted in us winning a package of support from Google for Startups. | * Recently won a demo day pitching competition which resulted in us winning a package of support from Google for Startups. | ||
* Shortlisted for multiple awards including the Wales Startup Awards and Great British Entrepreneur of the Year. | * Shortlisted for multiple awards including the Wales Startup Awards and Great British Entrepreneur of the Year. | ||
== Monetisation strategy | == Monetisation strategy == | ||
The global online travel agent market is significant (and growing), estimated to be worth in excess of £430bn<ref>Data from 2020.</ref>. | The global online travel agent market is significant (and growing), estimated to be worth in excess of £430bn<ref>Data from 2020.</ref>. | ||
Porter earns on a commission basis. This means, every time a member books a hotel, Porter receives a percentage of the total price paid. | Porter earns on a commission basis. This means, every time a member books a hotel, Porter receives a percentage of the total price paid. | ||
* Currently | * Currently Porter earns up to 15% of the total price paid for a hotel stay. | ||
* Porter receives the full booking amount up-front and then pays the net rate at a later date making Porter's cash model very efficient. | * Porter receives the full booking amount up-front and then pays the net rate at a later date making Porter's cash model very efficient. | ||
* As | * As we grow there's an opportunity for us to earn commission for additional travel products e.g. flights, trains, experiences and car hire. | ||
* | * We're also keen to test a tiered subscription model (think Amazon Prime for travel). | ||
* Finally, there are potential B2B revenue streams to be explored. This could include us offering aspects of Porter as-a-service, or by providing insight packages into travel trends. | * Finally, there are potential B2B revenue streams to be explored. This could include us offering aspects of Porter as-a-service, or by providing insight packages into travel trends. | ||
== Use of proceeds | == Use of proceeds == | ||
Recruitment to enhance | Recruitment to enhance our in-house capabilities, focusing on product, engineering, data and marketing. | ||
Accelerate growth by scaling | Accelerate growth by scaling our core marketing channels, whilst also testing referrals, loyalty and influencer marketing. | ||
Further, continue investing in our proprietary technology and digital products to enhance our recommendations, and scale to new verticals. | |||
== Team | == Team == | ||
'''CEO''' | '''CEO''' | ||
[[File:Gary Piazzon.jpg|none|thumb|Gary Piazzon]] | [[File:Gary Piazzon.jpg|none|thumb|Gary Piazzon]] | ||
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==Risks== | ==Risks== | ||
As with any investment, investing in Porter carries a level of risk. Overall, based on the key risks highlighted below, the degree of risk associated with an investment in | As with any investment, investing in Porter carries a level of risk. Overall, based on the key risks highlighted below, the degree of risk associated with an investment in Stockhub is higher than in a company that's trading on a public market (such as Beyond Meat). | ||
===Early-stage investment=== | ===Early-stage investment=== | ||
Porter is at one of the earliest stages of the business lifecycle, and the failure rate of companies at that stage is usually much higher than those at a later stage. | Porter is at one of the earliest stages of the business lifecycle, and the failure rate of companies at that stage is usually much higher than those at a later stage. | ||
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The number of transactions in shares of private companies is usually significantly lower than in public companies, typically resulting in it taking longer to sell shares in private companies at a price that is at least equal to the price that the shares were bought at. Accordingly, the Porter investment opportunity is considered to be higher risk than more liquid companies. | The number of transactions in shares of private companies is usually significantly lower than in public companies, typically resulting in it taking longer to sell shares in private companies at a price that is at least equal to the price that the shares were bought at. Accordingly, the Porter investment opportunity is considered to be higher risk than more liquid companies. | ||
==Actions== | ==Actions== | ||
To invest in Porter, click [https://www.seedrs.com/porter here]. | To invest in Porter, click [https://www.seedrs.com/porter here]. | ||
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== References == | == References == | ||