Week 7 - Tripbam

Which market segment did TRIPBAM initially target before expanding to the corporate market?

• Leisure travellers

• Airline companies

• Business travellers

• Hotel operators

Answer explanation

TRIPBAM initially targeted both leisure and business travellers, offering services that leveraged automated clustered rate monitoring to identify potential savings on hotel bookings.

Which competitor introduced the concept of automatic rebooks and refunds similar to TRIPBAM?

• Expedia

• Tingo

• Kayak

• Trivago

Answer explanation

Tingo, owned by TripAdvisor, introduced the concept of automatic rebooks and refunds, leveraging the Expedia Affiliate Network to monitor and rebook hotel rates if prices dropped, refunding the difference to the customer.

Which technology platform did TRIPBAM primarily rely on for its operations?

• Google Cloud

• Amazon Web Services

• Private cloud in a Miami datacenter

• Microsoft Azure

Answer explanation

TRIPBAM's core technology was housed in a private cloud based in a Miami datacenter, supporting its web application and enabling it to monitor hotel rates and notify users of potential savings efficiently.

How did TRIPBAM’s clustering feature help users save on hotel bookings?

• By offering lastminute discounts

• By using promotional codes

• By comparing rates across a set of similar hotels in a specific area

• By booking directly with hotels

Answer explanation

TRIPBAM's clustering feature allowed users to save by comparing rates across multiple similar hotels within a specified geographic area, offering alternatives with potentially lower rates.

What was the initial source of seed funding for TRIPBAM?

• Steve Reynolds personal savings

• Crowdfunding

• Corporate partnerships

• Venture capital from Thayer Ventures

Answer explanation

TRIPBAM received its initial seed funding from Thayer Ventures, a venture capital firm specializing in the hospitality industry, which helped it develop and scale its operations.

What was one way TRIPBAM differentiated itself from OTAs?

• By focusing on revenue generation instead of cost savings

• By offering only same day bookings

• By providing clustered rate shopping and rebooking services

• By charging higher fees for its services

Answer explanation

TRIPBAM differentiated itself from traditional online travel agencies (OTAs) by offering clustered rate shopping and rebooking services, which enabled users to find better deals by monitoring and comparing rates across a cluster of hotels.