World's largest startup company now in Phl

(The Philippine Star) Updated August 08, 2011 12:00 AM Comments (0)

MANILA, Philippines - Wimdu, the new global traveller accommodation site, has received a $90 million funding, prompting media abroad to dub it the world’s largest startup.

The German-based Internet company, which offers business travelers and tourists a wide selection of accommodation places around the world, is now in business in the Philippines.

Two European venture capital firms — German-based Rocket Internet and Swedish investor Kinnevik — have ploughed $90 million into Wimdu for an undisclosed stake.

Behind the company is Rocket Internet GmbH, one of the world’s largest start-up incubators. Its latest major venture is Wimdu, following in the footsteps of Groupon International (deals, discounts and coupons), Zalando (Europe’s largest online shoe retailer), and eBay Europe (buy and sell).

Wimdu is being seen as the future benchmark of international accommodation and lodging intermediation community. It is the fastest growing online destination for booking quality stays at unique destinations worldwide.

In the Philippines, the Internet site lists a variety of accommodation places like condominiums, residences, condotels, and small hotels(less than 20 rooms) which could be rented out by business travelers or tourists at much cheaper rates than the standard hotels.

The company offers two services, one for the guest or traveller and another for the host or the house or small hotel owner.

Wimdu said in the Philippines, a host can be a new condo buyer, a person who has a house in the province, or a proprietor of a small inn. “We see limitless hosting possibilities here in the Philippines especially since people have no effective way to advertise their places,” Wimdu said.

Wimdu said every person who has an extra room or house can sign up and list their space in Wimdu for short or long term lease and be a host. To be listed in Wimdu’s global online network is free of charge.

As for the guest, what the company has in mind are those who love to travel, for business or for pleasure, who want something unique — a home away fromhome, a cultural experience, a real plunge into the host’s country.

“This guest is not happy staying in large hotels where he is detached from the locals. Yet, our guest also wants the ease of booking a large hotel can offer. Wimdu then becomes the avenue to fulfil this desire. With just a few clicks, a cozy place can be found, booked, and the host notified for confirmation,” Wimdu said.

The company, founded by German brothers Marc and Oliver Samwer, has already been rolled out to 65 countries within a mere 100 days of its launch early this year.

“This is a fast-growing market that already has quite a few competitors. There’s a lot of market movement, so why not go global from the get-go? It’s beneficial to do it this way as we learn lots of different cultural things across the markets,” a Wimdu executive has said.

Wimdu’s model works by listing properties and rooms which travellers can apply to stay in. The hosts either accept or reject the application, with Wimdu taking three percent of the charge of any stay.