Tuesday, February 03, 2009

TVTrip raises another €7 million. Total raised now almost $14mm


Hotel video review site TVTrip.com has just finalised their Series B round raising €7 million (first saw the story over at TechCrunch). Brings total raised so far to just shy of $14mm (depending on how you convert Euros to Dollars and not including initial angle rounds). Investors included Balderton Capital (portfolio includes Bebo) , Partech International (portfolio includes Dailymotion) and AGF Private Equity (portfolio also includes Dailymotion). The latter new to this round.

I get the video review space. I can see clearly how consumer conversion will increase based on better hotel descriptions and videos. What is not settled in my mind is how to do the perfect Video. Clearly consumers have short attention spans. We know that the length of the average video viewed online is less than a few minutes. We also know that consumers are looking mroe and more for content from actual guests/users/

There is thus a huge challenge in getting the right balance between supplying video but making it short, sharp, relevant and real.

At PhoCusWright in LA a Video back-end provider/production company TripTelevision (CEO Kulin Strimbu) waxed lyrically about their auto clip technology that takes short sections from a long vidoe and auto-compiles it into a 30 sec spot. So that in 30 seconds you can see a bit of the lobby, room, pool, restaurant etc. A click on the video at any time will take you to the longer version video devoted to that particular part of the hotel. TVTrip has approached with a sliding channel approach where options on which part of the hotel you want to look at are provided as different channels to select from.

Video is here to stay but these layout options need further work. TVTrip now have millions of dollars to spend on working it out (and keeping up with increasing broadband costs). Congratulations to CEO Marc Ruff and team.

7 comments:

LuxuryHotels in Dubai said...

In combination with TripTelevision they might be onto something... Haven't seen the TripTelevision versions, I would suggest to include comments in the timeline similar what is currently available on soundcloud.com - this will allow for any regular user with a short attention span to quickly fast forward to the content they really look for - and skip probably the most interesting parts :D

Local Trips said...

What I see more troubling about this business model is the cost of producing video is incredibly expensive then couple that with keeping your content up to date.

Hotels do renovations..

Wow a big undertaking. After a few 1000's of properties are covered then you get to go back and update all the out of date content.

Guillaume said...

@Local Trips

I disagree with you. The cost of producing videos is really really cheap these days. Just look at all these independant shows, series available on mainstream video portals like Blip.TV.

Guillaume

Local Trips said...

Then we can agree to disagree in my former position we produced content for the big E in Travel and as soon as it was done the process began again. The amount of work involved in keeping hotel content fresh is incredible. and that does cost alot of money..

If your using UGC then thats a different story. I'd like to see who is the first one to get alot of free content from users. I doubt it will ever happen.

I skepical anyone will do what tripadvisor did for reviews to video.

Italy News said...

Creating compelling video is not easy when it is cheap. I assume most of the money will go to marketing to give them a footprint... How do they make money?

Tim Hughes said...

@Italy Today, most of revenues for TVtrip come from affiliation (either paid from OTAs or hotels). They also get some revenues from licensing fees and production fees from hotels.

sales said...

Kulin Strimbu at TripTelevision here - I would welcome your opinions about our production style. We just wrapped on the Hyatt Regency St. Louis Riverfront - what do you think? http://www.youtube.com/hyattstlriverfront