Not yet three years old, New York-based Ramp Business Corporation last month confirmed new financing of $750 million at a valuation of $8.1 billion. It announced that more than 5,000 businesses were on its platform, which “is powering over $5 billion of annualized payments volume.” It’s a tech firm that offers payments rather than a…
TravelPerk’s valuation tops $1 billion partly because its per-trip costs are five times lower than those of traditional travel management companies, according to its chief commercial officer. “TripActions and TravelPerk are measured like Software-as-a-Service companies, such as Workday, Slack or Zendesk, and not like an Amex or a more traditional travel company,” said TravelPerk CCO…
The steady stream of sustainability-related announcements this year became something of a deluge from all corners last month. It’s not only travel suppliers looking to enhance their green credibility. In growing numbers, corporate buyers and program managers appear ready to walk the walk. Click through to read about the latest corporate travel cutbacks from green-minded…
The largest player is after the market’s smallest accounts, which by many accounts are leading the business travel recovery. Continuing a customer segmentation strategy, American Express Global Business Travel last week brought to the United States an employee spend management solution for small and medium-sized enterprises first introduced last year in the United Kingdom. With…
Craig Fichtelberg is president and co-founder of AmTrav, a travel management company that has not participated in the latest cycle of acquisitions. He knows you’ll take his comments with a grain of salt. Consolidation among travel management companies has accelerated. Employees and customers are the most critical components in every acquisition. They’re also vulnerable and…
Executing an acquisition or merger can be tricky, and there have been several in the corporate travel space recently. Katharine Farrell of the Dots & Lines consultancy looks back at previous examples of brand consolidation in the industry and contemplates the pros and cons. May was an interesting month for the corporate travel industry. The…
The share of business travel bookings made online by travelers relative to phone or email with an agent fell for many entities in 2020. It seems that in a crisis, many humans trust humans more than machines to have the latest info. Technologists and travel management companies are working on ways to help resume growth…
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