Despegar.com Overview
We are talking about an online travel agency that deals with the industry of tourism and technology and are currently serving in over 24 countries. It is well known for its products and services like hotels, tour packages, cruise trips, and flights.
How it started?
The company came into existence with its registered website Despegar.com on 3rd August 1999 in the state of Delaware, United States.
It was founded by entrepreneurs from Argentina; Roberto Souviron and co-founders Martin Rastellino, Alejandro Tamer, Mariano Fiori and Cristian Vilate as Temer which was later changed by name on the request of investors having full focus on providing the relief to customers to avoid a long stand in queues for flight.
The founders met at Duke’s Fuqua business school in the U.S. before deciding to set such a platform.
The first step was a major success and they opted for expansion in other services like booking a hotel room using the internet plus showing out their larger presence in Latin America as being the first firm in this business.
In 2012, they launched out mobile travel app with some strategic advancement and further increased their range of products in-destination services, vacation rentals, travel insurance, rental cars, and cruise products.
The company has also survived the post-2001 financial crisis, the Brazil recession and the Argentine financial crisis of 2001-02 and the recession of 2016 still turning out profitable.
Why they are popular?
They are working with 2700 employees including more than 800 developers in offices and are on the way of earning the profit. The key to success was basically its decision to move early to offer more flexible payment options.
As now almost half of the transaction is paid on installment plans and they are planning out for payment options like a debit card and acceptance of multiple credit cards in a single transaction to attract more customers.
What’s new?
They made their debut as an initial public offering on the New York Stock Exchange in 2017 and raised out above $300 million becoming the first online travel unicorn of Latin America.
They have also planned for new services that include bus ticket sales and local concierge service in the test market.
References
https://www.glassdoor.co.in/Photos/Despegar-com-Office-Photos-E656503.htm
https://www.bloomberg.com/profile/company/DESP:US
https://www.us.despegar.com/