Tidesquare has announced a strategic investment in Singapore-based travel website BeMyGuest, which got an angel funding of S$500,000 recently
Singapore based travel site BeMyGuest has received a strategic investment from premium South Korean travel service Tidesquare. This follows its recently concluded round of angel funding, which successfully raised S$500,000 from undisclosed investors from the travel, financial and property sectors two months ago.
Tidesquare is the third largest online travel agency (OTA) in South Korea, and it operates an online travel mall for premium card members, Privia Travel. With 300,000 site visitors generating 15,000 to 20,000 bookings every month, Tidesquare’s revenue from ticket sales amounted to over US$120 million in 2012. Now, as one of the largest OTAs in South Korean private travel operations, the company seeks new markets in Southeast Asia.
Apart from providing Tidesquare a foothold in Southeast Asia, BeMyGuest’s unique platform also contributed to seal the deal. “BeMyGuest presents a fresh travel product that is growing rapidly in popularity with travellers everywhere,” Tidesquare CEO Min Yoon elaborates. “We’re very happy to have the opportunity to invest in such a unique product and team that is clearly providing travellers with the unique experiences they seek today.”
Launched in beta in October 2012 and now the leading aggregator of tours and activities in Asia, BeMyGuest is a travel intermediary that helps local suppliers and travel intermediaries distribute local accommodation, activities and events to travellers. The idea for BeMyGuest came to founder, CEO and travel industry veteran, Clement Wong during a business trip in Africa.
Travellers in Southeast Asia can look forward to new BeMyGuest deals in South Korea. “South Korea is a large inbound travel sector in South East Asia and we see this integration of our companies as such a positive move for both region’s tourism markets, and a huge win for the travel consumer,” notes Wong. “We’re thrilled that Tidesquare has expressed such confidence and belief in BeMyGuest to make such a strategic investment.”