GetGoing, offering to buy air tickets at discount, attracts investment from a group of international investors including Ukrainian venture fund TA Venture, entrepreneur Yuri Milner, Lightbank and Data Collective. Investors do not report the volume of investment and the size of the acquired packet.
GetGoing offers discounted flights to over 500 destinations in six U.S. cities (San Francisco, Los Angeles, New York, Boston, Washington and Miami). The company was founded in 2011 in San Francisco.
GetGoing model is unique because its website offers discounted tickets to tourists, not to businessmen. It works in the following way: a potential customer choses approximate dates of desired vacation, kind of holiday (beach, ski, tours, etc.), and the resource offers the customer an air route with a discount of up to 40% of its cost. It is our first investment in a company which is in Y Combinator program. This incubator was involved in the launch of a large number of the most successful Internet projects in the world, so we are very pleased with this transaction. We were impressed by the ability of the company's founders to solve a huge problem of the airline industry: unoccupied seats in aircrafts. - Victoria Tigipko, the director of venture fund TA Venture says.
In turn, Alec Vernitsky, a co-founder and the CEO of GetGoing commented on the investment: We are very pleased to work with the TA Venture Fund, which has successful experience of investing in some of the most innovative travel companies in Europe and the U.S. We have just started the project in North America, and we intend to expand our presence in Europe and CIS, where the knowledge of the local market by TA Venture experts will play an important role in our growth.
Earlier, TA Venture Fund invested in a service to search and book flights Bravoavia, a search engine and translator Linguee, a publisher of social games and applications Pixonic, a social shopping platform Fantasy Shopper, a personalized online shopping platform for brides Tailored, an on-line service for delivery of organic products Mile High Organics, the world's first social stock exchange of hostels WeHostels, URBANARA – an online brand that sells high-quality home textiles and accessories from around the world at their original cost, as well as in AdoreMe which is an online lingerie club that offers designer women's lingerie at affordable prices.