Tours and activities startups are racking up travel venture capital cash, with GetYourGuide and Klook serving as the most high-profile recent examples.
In 2019, SoftBank Vision Fund fronted a $484 million round into Berlin-based GetYourGuide while simultaneously leading a $225 million round into Hong Kong-based Klook.
These most recent funding rounds have fueled numerous rumors regarding the futures of both companies, alongside the wider issue of taking investment from WeWork-backer SoftBank.
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During the Phocuswright Conference, Arival CEO Douglas Quinby asked Eric Gnock Fah, co-founder and COO of Klook, and Johannes Reck, co-founder and CEO of GetYourGuide, whether the most recent funding round by SoftBank could spark cooperation.
“I think that SoftBank gets way too much press attention,” Reck says, adding that SoftBank made a “mistake” with its WeWork investments.
Gnock similarly brushed off any SoftBank connections, saying that’s common for companies in travel to invest in multiple brands in the same space.
Topics discussed during the interview include the impact of mobility on tours and activities, and an outlook for the entire sector.
See the full interview below.
Executive Interview: GetYourGuide & Klook - The Phocuswright Conference