GetYourGuide secures USD194 million in funding, proving the old adage: Money can buy happiness
DISCLAIMER: This article is not sponsored by GetYourGuide. Though if they wanted to toss a few million our way, we wouldn’t be opposed.
We’ve all had that moment when we purchase something frivolous and convince ourselves it’s “worth it.” According to Travel Daily Media, GetYourGuide has secured another $194M in funding. And while some might argue this investment is excessive during such an uncertain time for travel companies who were forced to downsize significantly (or even shut down altogether), nobody asked us what we thought.
In any case, this considerable cash infusion means the sky’s the limit for GetYourGuide as far as innovation goes. They claim their goal has always been about creating unforgettable memories – which doesn’t sound too shabby right now. With so many companies vying for a slice of the experience economy, it seems that whether or not this venture will ultimately end up being worth the cost is unknown.
What does GetYourGuide plan to do with all that money?
According to Johannes Reck, CEO and Co-Founder of GetYourGuide: “We have raised $194 Million in new funding. Blue Pool Capital leads the $85 million Series F funding round, with participation from KKR and Temasek. In addition, UniCredit led the Revolving Credit Facility (RCF) of USD 109 million, with participation from BNP Paribas, Citibank, and KfW.”
So… what are they going to do with all that cheddar? They aim to “accelerate innovation in their technology” (a fancy way of saying they’re going digital), which makes sense given how far behind other sectors such as e-commerce and healthcare investment have soared during the pandemic.
The real question everyone wants an answer to
All jokes aside – should you invest your own hard-earned cash dollars into travel-related businesses like GetYourGuide? This is presumably just one drop out of an entire ocean; however as we watch news reports detailing everything about impending delta variant surges canceling summer vacations around the globe again – investing anything related even tangentially feels risky.
But at least investors can feel confident knowing their investments played a role in keeping solid paychecks for those working within – who don’t necessarily know where their next chance at traveling will come from anytime soon either.
- We did not receive any perks or incentives while writing this article — though if anyone would like to throw some GYG gift cards our way, we won’t object.
- Though it’s too soon to tell if this funding proves wise which begs the question: If investment in travel-based companies like GetYourGuide is worth a shot might depend heavily on your own risk tolerance levels (and perhaps sobriety levels?).