Nextravel: Company Overview

Goals

In this research, we will focus on finding the following information on Nextravel: description of NexTravel (overview, business model, corporate structure).

Early Findings

Nextravel Overview

  • Nextravel, founded in 2015 is based in Santa Monica, California and has around 51-200 employees. It is an online travel booking and management software for employees. This product streamlines and simplifies the booking process and offers management the ability to track, approve, and control travel-related expenses. The key features of the software include: centralized travel interface , travel expense management , travel approvals , access corporate discounts , business travel rewards , employee tracking , and flexible organizational hierarchy.

Business Model

  • Customer Segments: while not directly specified as customer segments, Nextravel offers its services to managers, employees, recruiters, assistants, and organizers.
  • Value Proposition: the product is an easy to use software for both admin and employees to book travel compared with competitors who often use physical travel agents. Nextravel automates the manual process of travel booking for higher employee productivity and user satisfaction. Customers have recognized the software's ability to provide the most affordable booking options, allowing them to get rid of manual cost comparisons, as a key value/benefit.
  • Revenue Streams: for smaller businesses with basic needs, the software is free. For premium features for larger companies, Nextravel charges per seat. It also gains revenue for custom enterprise features.
  • Key Activities: while not directly specified as key activities, Nextravel is involved in travel booking, administration, compliance, expense management, reporting, and Nextravel mobile app management (see features).
  • Key Partnerships: a) Expense partners-Expensify, Abacus, and Tallie b) HR partners-BambooHR and Zenefits
Note: In this 1-hour research block, we have provided an overview of Nextravel, and information relating to 5 out of the 9 components of the business model. The remaining components: channels, cost structure, key resources, and customer relationships, as well as an overview of the corporate structure of the company can be looked into in our next research. Please note that information on the remaining business model components may or may not be publicly available.

Proposed next steps:

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