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Your choice of travel companion can make or break any trip.
People who may be great friends at home don’t always make the best traveling buddies. For instance, someone who’s happy to leave their hotel room by noon isn’t going to have a great time with someone who wants to be out and exploring in the early morning.
How people approach trip planning can also vary massively. I’m not particularly bothered if every part of the trip isn’t booked or prepared in advance, but I understand that some need their activities to be planned out.
Platforms like GlobalTix cater to the latter, and there seems to be plenty of folks in that group since the Singaporean firm has doubled its revenue. Read on for a look at the company’s latest financial results.
Today we look at:
- GlobalTix landing in the black as tourism bounces back
- How WeCare aims to plug communication gaps between older people and their families and caregivers
- Other newsy highlights such as SEA’s digital economy on track to hit US$11 billion in profit and Apple’s plan to build a factory in Indonesia
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Book trip, will profit
Image credit: Timmy Loen
E-ticketing platform GlobalTix has booked a profit and doubled its revenue amid Southeast Asia’s tourism recovery.
The SaaS firm helps tourist destinations sell tickets to small and mid-sized travel agencies across Southeast Asia.
- Comeback season: GlobalTix posted a profit before changes in fair value of around US$34,000 in the financial year ending March 2024. This is a significant turnaround from last year, when it lost US$501,000.
- Nuts and bolts: The firm’s revenue for the year was just under US$66 million. Most of this revenue came from commissions earned through bookings made by travel agencies via its platform. GlobalTix also charges subscription fees to clients.
- Where to next? In October, GlobalTix secured US$4.9 million in a series B funding round led by Tin Men Capital. It plans to use the capital to develop an AI tool for pricing and catching travel trends, as well as to expand into Europe and the Middle East.
Read more: GlobalTix doubles revenue, books a profit amid SEA tourism recovery
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