The Ledger
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TripActions Was Among the First Tech Unicorns to Conduct COVID Layoffs
“We are one of the first, I would say, unicorns to do layoffs, just because usually I think in TripActions we are executing really well.”
Ariel Cohen Predicts Business Travel Will Rebound Stronger Post-COVID
“I have strong belief that people, once it is done, will get back to travel, to business travel, even in a stronger way.”
Elad Gil: Corporate travel demand will recover within 1-2 years
“Some corporate travel company like TripActions, I don't know anything in detail about them, but I'm assuming there are businesses way down, but in a year or two, a lot of it will come back. Enterprises will start to travel again.”
TripActions Shares Cash Reserves and Burn Rates With All Employees
“Employees in trip actions all the time knew how much money do we have? How much we burn? On what do we burn the money?”
TripActions Laid Off 350 Employees in March 2020
“This company today sadly had to lay off 350 people in March”
TripActions Platform Usage Dropped by 90% During COVID-19
“Obviously, the usage has dropped down by 90%.”
TripActions manages $1B+ in corporate travel, growing 15% to 20% monthly
“They now manage over a billion dollars in corporate travel. They're growing 15 to 20% month over month.”
a16z made up to four follow-on investments in Stripe and TripActions
“We've invested multiple times in many of our companies. So Coinbase, we invested three times. Roblox, twice. Databricks, three times. Stripe, four times. TripActions, four times.”
TripActions Faced a Major US Airline Dispute Crisis in Late 2018
“We had a year and a half ago, we had a major crisis where we had a certain fight with one of the airlines in the US. And until we solved that issue, and now we actually became really good friends with this airline, but until we solved it, we were actually oper…”
TripActions Raised Over $980M From Lightspeed, a16z, and Zeev Ventures
“To date, Ariel has raised over nine hundred and eighty million dollars for TripActions from some of the best in the business, including Lightspeed, Auron's Eve, and Andreessen Horowitz, to name a few.”
TripActions Planned for a 24-Month Financial Impact Horizon During COVID
“I've approached it as it's probably a twelve-month crisis, which then you have additional 12 months of implications. So I kind of saw it through a length of 24 months. That was my approach to this crisis.”