TripIt, the itinerary management service acquired by Concur in January, has reached a milestone: 1 million mobile users.
Those numbers come from Concur chairman and CEO Steve Singh, who says TripIt had 2 million users when acquired and is on track to double that number to 4 million customers by the end of 2011.
Singh says TripIt added 500,000 users in the first three months of 2011 and another 500,000 by the end of June, reaching the 3 million mark.
Parsing the numbers, one in three TripIt users use the service at least part of the time on their mobile devices.
Singh says Concur will make a big push to get TripIt to 10 million users and once TripIt reaches that level, then the service can be "monetized in very interesting ways."
"And while the revenue contribution from TripIt remains very modest in fiscal '11, we expect it to become a more meaningful contributor to revenue in fiscal 2013 and beyond," Singh says.
TripIt, along with Concur's Breeze expense management platform, enables Concur to target the unmanaged business travel market, although Singh notes that plenty of road warriors in managed travel programs use TripIt, as well.
TripIt recently invested $5 million in Yapta and plans to integrate its airfare tracking and refund service into TripIt Pro, a subscription service.
"Our objective in both products [TripIt and TripIt Pro] is to keep driving more and more functionality into those services to make it invaluable and indispensable to any business traveler," Singh says.
Toward that goal, TripIt is off to a pretty good start.
Singh's comments came during Concur's fiscal third quarter 2011 earnings call.
For Concur's fiscal third quarter, which ended June 30, Concur's net income fell 37.6% to $2.26 million on $89.4 milliion in revenue, a 19.3% hike.