NASDAQ OMX

TripStack announces $6M in funding to accelerate development of powering OTAs with Every Flight on Earth

Dela

TORONTO, June 27, 2018 (GLOBE NEWSWIRE) -- TripStack released two new products which have been designed to provide Online Travel Agencies (OTAs) access to many of the world's Low Cost Carriers (LCCs) and "Virtual Interline" fares.  TripStack has been developing their software for the past year with a team of 25 in Toronto with plans to hire an additional 100 developers by the end of the year.

"With the rise of the LCC market, now representing 30% of all airline tickets sold, many LCC fares are not being offered via the traditional online distribution channels. TripStack is actively working to integrate every LCC in the world and provide the best fares to our clients." - John Boguslawski - CEO of TripStack.

EFOE - "Every Flight on Earth" provides OTAs with lightning fast access to popular LCC that are not available in the three major Global Distribution Systems, or by way of direct API connection.  The EFOE API is easy to integrate, and allows the OTAs to start selling these flights in as little as 3 weeks. The EFOE API features access to airline ancillary products like baggage & seat selection. Ancillaries provide a great secondary revenue for the OTA, and are proving to be very important to customers when booking airline tickets online.

TripBuilder gives customers access to "Virtual Interline" fares, which connect airlines outside of traditional airline agreements. On many routes, these fares are often the least expensive flights and provide the customer with more travel options to reach their end destination.

These two products working together provide OTAs with the ability to offer their customers unique flight content, at the lowest prices, while earning significant booking and ancillary revenue.

TripStack's beta customer FlightNetwork went live with both products recently, and there are three other OTAs connecting to the API expecting to go live in July.

"FlightNetwork has enjoyed success with EFOE and TripBuilder products.  We have been able to offer LCC content to our customers, and been able to offer high margin virtual interline fares.  We also like that the financial model with TripStack is transaction based.  We only pay when we make bookings." - Naman Budhdeo - CEO of FlightNetwork.

New and established OTAs that are looking to bolster their LCC content and ultimately book more passengers are encouraged to reach out to TripStack via their website at http://www.tripstack.com/contact/.

Contact information - 
John Boguslawski
CEO
John.boguslawski@tripstack.com
416-892-5646




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: TripStack via Globenewswire

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