Who and what are you (including personnel and backgrounds)?
We are a travel technology company that has developed a proprietary fares and pricing engine. We have created software that combines all sources of airline fares for both traditional and low-cost carriers, either through direct connects or through private and public industry data (ATPCO, IATA, OAG, SITA, private fares, paper DB).
Everbread was put together by four co-founders, who attracted Morten Lund (CEO) to help build the product and run the company. The company board includes a number of travel industry veteran. Everbread is also an IATA Strategic Partner.
What financial support did you have to launch the business?
We were financed by private investors.
What problem are you trying to solve?
Everbread is solving the search part of the shopping/buying equation in the air travel market. In short, we provide our customers with a set of flight and fare recommendations that they can show on their website. They can then book these recommendations in their preferred GDS (or direct connect) source. Our software provides a cheaper, faster product with better content.
Describe the business, core products and services?
Everbread’s core product is Haystack – our proprietary fares and pricing engine. We are providing B2B services, powering the search results shown on meta-search engines, OTAs and airline websites.
Who are your key customers and users at launch?
We are already in testing with a number of OTAs and leading meta-search engines as well as preliminary talks with major airlines.
Did you have customers validate your idea before investors?
No, we didn’t not reach out to specific customers to validate the idea. Our German partner, Ypsilon, has discussed the advantage of our search with customers and investors.
What is the business AND revenue model, strategy for profitability?
We are in the search for air travel business and we aim at powering agencies and meta-search outlets with cheaper, better solutions to provide more flight options to the end consumer.
SWOT analysis – strengths, weaknesses, opportunities and threats?
Strengths:
Team, speed, reliability, customizability, multi-source, split-ticketing, more results, better content
Weaknesses:
Our ambition to help change an industry
Opportunities:
Established and growing travel markets with rising online shoppers
Threats:
Getting ahead of ourselves and not taking it one step at a time
Who advised you your idea isn't going to be successful and why didn't you listen to them?
A number of naysayers expressed their concerns about re-designing a complex search environment, that feeds on data with 8 updates a day (going to 24 a day in May) and theoretically more than 500 million flight combinations per search. This exercise has taken years for established players with hordes of developers and almost unlimited finances and yet, the booking fail rate, limitations of the search results and costs of the search have not been resolved.
We didn’t listen, because we were (and still are) convinced that with the right people and attitude it could be done and we are delighted to have made the right decision.
What is your success metric 12 months from now?
We’d like to increase the traffic of our customers and allow more people to fly to more places for less money.
TLabs focus on startups featuring London-based
Everbread.
Who and what are you (including personnel and backgrounds)?
We are a travel technology company that has developed a proprietary fares and pricing engine.
We have created software that combines all sources of airline fares for both traditional and low-cost carriers, either through direct connects or through private and public industry data (ATPCO, IATA, OAG, SITA, private fares, paper DB).
Everbread was put together by four co-founders, who attracted Morten Lund (CEO) to help build the product and run the company.
The company board includes a number of travel industry veterans. Everbread is also an IATA Strategic Partner.
- Lund - An archangel investor, start-up ideologist and visionary, Morten Lund co-founded and invested in more than 50 high-tech start-ups, most famously the VoIP phenomenon Skype and online stockbroker Zecco. His portfolio features over 80 companies spanning the Internet, telecoms, health, travel, and alternative energy.
- Assen Vassilev (VP strategy and business development) - Assen brings five years of experience in the travel industry as a founder and CEO of an online travel portal and a travel technology company. He started his career at Monitor Group, where he worked on strategy, marketing, and SG&A optimization projects for a number of clients, including a Fortune 15 company in the energy industry, a large mining client in South Africa, and a telecom conglomerate in Russia. In addition to business consulting, Assen has been involved in teaching, economic policy and government consulting, including travel policy consulting for the European Commission.
- Ashley Raiteri (chief technical officer) - Ashley began his career as a rocket scientist on complex system-of-system projects for the United States Defense and Aerospace Industry. He has led teams of hundreds of developers and worked as senior architect or project manager on mind-bogglingly complex military and aerospace systems. After launching a successful consulting group dedicated to making web 2.0 "useful", he moved to Europe to work more closely with entrepreneurs focused on the internet industry. He has 17 years of professional experience as a developer, manager and executive for software projects.
What financial support did you have to launch the business?We were financed by private investors.
What problem are you trying to solve?
Everbread is solving the search part of the shopping/buying equation in the air travel market. In short, we provide our customers with a set of flight and fare recommendations that they can show on their website.
They can then book these recommendations in their preferred GDS (or direct connect) source. Our software provides a cheaper, faster product with better content.
Describe the business, core products and services?
Everbread’s core product is Haystack – our proprietary fares and pricing engine. We are providing B2B services, powering the search results shown on meta-search engines, OTAs and airline websites.
Who are your key customers and users at launch?
We are already in testing with a number of OTAs and leading meta-search engines as well as preliminary talks with major airlines.
Did you have customers validate your idea before investors?
No, we didn’t not reach out to specific customers to validate the idea. Our German partner, Ypsilon, has discussed the advantage of our search with customers and investors.
What is the business AND revenue model, strategy for profitability?
We are in the search for air travel business and we aim at powering agencies and meta-search outlets with cheaper, better solutions to provide more flight options to the end consumer.
SWOT analysis – strengths, weaknesses, opportunities and threats?
Strengths:
- Team, speed, reliability, customizability, multi-source, split-ticketing, more results, better content
Weaknesses:
- Our ambition to help change an industry
Opportunities:
- Established and growing travel markets with rising online shoppers
Threats:
- Getting ahead of ourselves and not taking it one step at a time
Who advised you your idea isn't going to be successful and why didn't you listen to them?A number of naysayers expressed their concerns about re-designing a complex search environment, that feeds on data with eight updates a day (going to 24 a day in May) and theoretically more than 500 million flight combinations per search.
This exercise has taken years for established players with hordes of developers and almost unlimited finances and yet, the booking fail rate, limitations of the search results and costs of the search have not been resolved.
We didn’t listen, because we were (and still are) convinced that with the right people and attitude it could be done and we are delighted to have made the right decision.
What is your success metric 12 months from now?
We’d like to increase the traffic of our customers and allow more people to fly to more places for less money.
TLabs Showcase is part of the wider TLabs project from Tnooz.
To be featured as a startup in TLabs Showcase or to demonstrate a new product, email Tnooz for more details.