Company:Klook

From HandWiki
Klook
TypePrivate
IndustryTravel
FoundedMay 1, 2014; 12 years ago (2014-05-01) in Hong Kong
Founder
  • Ethan Lin (CEO)
  • Eric Gnock Fah (COO)
  • Bernie Xiong (CTO)
HeadquartersHong Kong
Number of locations
20 (2019)
Area served
Number of employees
1000 (2019)[1]
Websitehttps://www.klook.com/

Klook is an online travel agency focusing on travel experiences and attractions and was established in 2014.[2] It was founded by Eric Gnock Fah, Bernie Xiong and Ethan Lin.[3] Headquartered in Hong Kong.[4] It is a short name of Keep Looking.[5] More than 75 percent of bookings has been made through Klook app.[6]

History

The company was founded in 2014.[2]

In March 2015, Klook launched a mobile app, which was then featured on Apple iTunes store across 14 countries and regions in Asia. It proved a pivotal moment for the company: it was on the iTunes store that one of Klook’s early investors, Zhuyan Li, vice president of Matrix Partners China, spotted the app and contacted Klook looking to invest.[7]

In 2021, the company integrated with Google with Things to do platform, a display feature that allows consumers to discover, plan and compare prices across activities and attractions around the world.[8]

Funding

In 2017, the company raised series B funding of US $30 million led by Sequioa Capital.[9] Another round of series C funding were raised by the company during the same year from existing investors Sequoia Capital and Matrix Partners of US $60 million.[10]

In 2021, the company raised US $200 million in series E funding.[11] It will be used to develop a booking management platform Rezio, to support tour operators and activity providers in Taiwan and Japan locations.[12]

Partnership

In 2021:

  • Partnered with Seera Group to create a one-stop digital platform with end-to-end content and inventory management solutions that will support tourism and leisure activity providers in Saudi Arabia.[13]
  • Regionally partnered with Asian brand Atome to expand buy now and pay later payment acceptance for travel, attractions and leisure experiences across Southeast Asia.[14]
  • Partnered with insurtech company ZA Tech to feature travel-related insurance products from a range of insurers, through the integration of proprietary ZA Tech technology.[15]

Key people

  • Shang Chuang as Chief Financial Officer[16]
  • C.S. Soong as Vice President, Corporate Development[17]
  • Sarah Wan as General Manager, Singapore[18]

Travel booking app

In 2014, Fah and Lin looked into LinkedIn for technical person who can join the company as co-founder. After reviewing around 100 profiles they have opted Xiong and by meeting several times to confirm their potential idea. In 2018, short four years, the trio succeeded with a billion dollar business.[19]

Klook Live!

During the COVID-19 pandemic situation, the travel industry were heavily impacted all over the globe. The company came up with an idea of livestreaming significant to online travel-based platform with cross-industry partnerships by hiring popular local influencer to host livestreams with merchant partners. Providing useful tips and storytelling to their consumers who are awaiting to travel. This resulted in average uplift in conversion rates grow by fourfold.[20]

Corporate social responsibility (CSR)

In 2020, Klook Cares helped to feed 5,000 migrant workers with their Klook Cares initiative, which partnered vendors like Casuarina Curry, Ananda Bhavan, Chef in a Box and Curry Nations, to provide lower-cost meals to the Migrant Workers Centre and the Alliance of Guest Workers Outreach.[21]

In March 2021, the company launched Klook Cares initiatives that allows people to donate their SingapoRediscovers Vouchers (SRVs) to groups such as migrant workers, through non-governmental organisation It's Raining Raincoats.[22]

References

  1. ↑ Wehbe Watson, Rana. "Klook's Nomadic Cofounder Turns Wanderlust Into A $1 Billion Enterprise". Forbes.com. https://www.forbes.com/sites/ranawehbe/2019/07/15/klooks-nomadic-cofounder-turns-wanderlust-into-a-1-billion-enterprise/?sh=51b6773d64ea. 
  2. ↑ 2.0 2.1 O'Neill, Sean; January 25th, Skift; EST, 2021 at 9:00 PM (2021-01-26). "Klook Raises $200 Million in Bid to Become a Superapp for Experiences" (in en-US). https://skift.com/2021/01/25/klook-raises-200-million-in-bid-to-become-a-superapp-for-experiences/. 
  3. ↑ Gilchrist, Karen (2018-12-17). "The co-founder of billion-dollar start-up Klook found his business partner on LinkedIn" (in en). https://www.cnbc.com/2018/12/14/klook-entrepreneur-says-linkedin-helped-him-find-start-up-co-founder.html. 
  4. ↑ O'Neill, Sean; December 14th, Skift; EST, 2021 at 2:30 AM (2021-12-14). "Klook Taps Rise in Domestic Travel for Growth in Experience Bookings" (in en-US). https://skift.com/2021/12/14/klook-taps-rise-in-domestic-travel-for-growth-in-experience-bookings/. 
  5. ↑ Auto, Hermes (2021-10-10). "Lunch with Sumiko: How Klook rode out the Covid-19 crisis | The Straits Times" (in en). https://www.straitstimes.com/singapore/lunch-with-sumiko-how-klook-rode-out-the-covid-19-crisis. 
  6. ↑ Lo, Danica. "Klook Co-Founder Eric Gnock Fah On How The Company Is Transforming Travel Experiences" (in en). https://www.tatlerasia.com/the-scene/people-parties/hk-klook-co-founder-eric-gnock-fah-interview. 
  7. ↑ Watson, Rana Wehbe. "Klook's Nomadic Cofounder Turns Wanderlust Into A $1 Billion Enterprise" (in en). https://www.forbes.com/sites/ranawehbe/2019/07/15/klooks-nomadic-cofounder-turns-wanderlust-into-a-1-billion-enterprise/. 
  8. ↑ Koumelis, Theodore (31 Aug 2021). "Klook integrates with Google enables operators to feature as an Official Site Listing on Things to do". Traveldailynews.asia. https://www.traveldailynews.asia/klook-integrates-with-google-enables-operators-to-feature-a. 
  9. ↑ Tan, Nicolette (4 Jul 2017). "Tech in Asia - Connecting Asia's startup ecosystem" (in en-US). https://www.techinasia.com/talk/regional-expansion-klook. 
  10. ↑ Millward, Steven (25 Oct 2017). "Tech in Asia - Connecting Asia's startup ecosystem" (in en-US). https://www.techinasia.com/klook-series-c-funding-goldman-sachs. 
  11. ↑ O'Neill, Sean; January 25th, Skift; EST, 2021 at 9:00 PM (2021-01-26). "Klook Raises $200 Million in Bid to Become a Superapp for Experiences" (in en-US). https://skift.com/2021/01/25/klook-raises-200-million-in-bid-to-become-a-superapp-for-experiences/. 
  12. ↑ Vasquez, Dinna Chan (2021-12-04). "Travel and leisure booking platform promotes local travel | Dinna Chan Vasquez" (in en-US). https://businessmirror.com.ph/2021/12/04/travel-and-leisure-booking-platform-promotes-local-travel/. 
  13. ↑ "Saudi Tourism Authority CEO lauds Seera, Klook partnership". arabianbusiness.com. 17 May 2021. https://www.arabianbusiness.com/industries/travel-hospitality/463418-saudi-tourism-authority-ceo-lauds-seera-klook-partnership. 
  14. ↑ Monteiro, Leandra (5 Oct 2021). "Atome and Klook partner to expand Buy Now, Pay Later acceptance" (in en-US). https://ibsintelligence.com/ibsi-news/atome-and-klook-partner-to-expand-buy-now-pay-later-acceptance/. 
  15. ↑ Cuenca, Oliver. "Klook and ZA Tech sign joint venture agreement" (in en). https://www.itij.com/latest/news/klook-and-za-tech-sign-joint-venture-agreement. 
  16. ↑ Wei, Chong Seow (2021-10-22). "Cloud Talk: Gearing Up For The Next Black Swan Event" (in en). https://generationt.asia/events/cloud-talk-gearing-up-for-the-next-black-swan-event. 
  17. ↑ Asia, T. T. G.. "Klook, ZA Tech ink travel insurance deal | TTG Asia" (in en-US). https://www.ttgasia.com/2021/11/24/klook-za-tech-ink-travel-insurance-deal/. 
  18. ↑ Ong, Grace (15 Jan 2021). "Klook wants unbiased reviews to promote staycays with mystery staycation initiative" (in en-gb). https://www.marketing-interactive.com/klook-wants-unbiased-reviews-to-promote-staycays-with-mystery-staycation-initiative. 
  19. ↑ Gilchrist, Karen (2018-12-17). "The co-founder of billion-dollar start-up Klook found his business partner on LinkedIn" (in en). https://www.cnbc.com/2018/12/14/klook-entrepreneur-says-linkedin-helped-him-find-start-up-co-founder.html. 
  20. ↑ Lung, Tiffany. "How Travel Platform Klook Boosted Staycation Experiences With Livestream Shopping" (in en). https://www.forbes.com/sites/tiffanylung/2020/10/26/how-travel-platform-klook-boosted-staycation-experiences-with-livestream-shopping/. 
  21. ↑ Kwee, Melissa (11 June 2020). "Commentary: Uptick in corporate giving during COVID-19 is much more than just a PR exercise" (in en). https://www.channelnewsasia.com/commentary/singapore-corporate-giving-covid-19-not-just-pr-branding-csr-722971. 
  22. ↑ Auto, Hermes (2021-11-30). "Still have unused SingapoRediscovers Vouchers? Here's how to donate them | The Straits Times" (in en). https://www.straitstimes.com/life/travel/still-have-unused-singaporediscovers-vouchers-heres-how-to-donate-them. 

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