myTab.co is a travel gift card where you save travel cash and shout 'put it on myTab' so friends and family contribute towards your dream trip. Then simply redeem the funds from thousands of flights and hotels, all within myTab. And with our Match myCash feature, we can also negotiate exclusive rates with travel suppliers on myTabbers behalf, taking crowd funding to a whole new level. Brilliant!
We saw there was no loyalty in travel as people spend $243 ($27 p/h x 9 hours) in time wasted trying to find a deal that's $5 cheaper than something they thought they saw a week earlier. That's insane! With all the planning, booking etc sites out there, no one has ever addressed the price fluctuation frustration before. Daily/flash deals are killing the economy and everyone apart from myTab has ignored huge, primary pain for the user.
So we created myTab idea in 2005, waited for PayPal and Facebook to catch up, built the company in 2010 and then launched in 2011. The results:
A full life cycle for myTabbers - gift, save, plan, share & book travels.
Bringing back emotion to gift giving (note $30b of $100b gift cards a year are discarded).
Stabilizing the economy with Match myCash - the more myTabbers funding trips, the more power myTab has to negotiate exclusive deals for myTabbers. Airlines/hotels etc generate revenues at slow and long lead times to a cash rich demographic at a fraction of traditional marketing costs.
It's simple, brilliant and quite genius :)
Why is this important?
Customers are frustrated with erratic prices, spending weeks trying to find something $5 cheaper...and after booking, never knowing if you got the best bang for your buck. You don't know and the $700b industry doesn't either. With myTab holding myTabbers cash (as with any store gift card platform), we can use combined funds to negotiate exclusive rates with airlines and hotels who want to capture our cash rich demographic as slow and long lead times. myTabbers then know they got the best deal on the planet and the industry has revenues upfront so eliminate fluctuating last minute prices. It's never been done before myTab came along, and we'll stabilize travel along with adapting our technology/API to eretailers (Fortune 500's). These huge corps gift card/registry works at 10% capacity - myTab technology accelerates this to 100% at the fraction of traditional marketing & advertising costs to suppliers & retailers.
Why is our team awesome?
We have incredible experience in travel, hospitality, ecommerce and consumer PR/Marketing. Ken Swanton is one of the pioneers in online travel. That says it all :)
How will we make money?
Affiliate revenues from Expedia; affiliate revenues and 'advertising email' space for Match myCash supplier bidders; selling combined (not individual!) customer data on pre travel trends NEVER achieved before - data on funding, planning, destination, purpose of trip, demographics, traveling friends etc; Mobile App integration with local businesses - more to come on that when we launch our Smartphone App. In addition - then there's licensing our technology to Fortune 500's and expanding globally with our myTab.co travel platform
What makes us unique?
Every other planning, booking, recommendation site is a version of each other and not hitting the core problem - they all focus on 'deals,' copying each other and not remotely addressing the real pain. At myTab, we digged into the real problem in travel (price) and the psychology behind what makes a traveler 'not' think about price as paramount yet have a happier funding & booking experience, generate loyalty and trust. From this, we delved deeper and discovered gift cards is key. Receiving a gift card contains 2 emotions: trigger happy free cash & the value of emotion from the gifter. Combining this, myTabbers feel cash rich from gifted and/or saved funds so they don't stress over price when booking a trip on myTab. We also negotiate exclusive deals with our Match myCash feature: myTabbers sit back while we send them the best deal on the planet & the industry capture a cash rich audience at slow/long leads for a fraction of traditional advertising/marketing. This smooths out ecommerce - insanely simple yet game changing in online purchasing. Our aim is to abolish Black Friday, Cyber Monday and erratic price fluctuations.
How do you acquire customers?
Social media, marketing, PR and combined editorial. Remember that myTab is also for gifting, not just saving, so each customer accumulates approx 8 new introduction/potential myTabbers from viral traction and organic stickiness of contributions. Socially integrated, this is also a natural growth for us by users promoting their travels. We have great study abroad affiliate partners, working on some national media partner campaigns, government initiatives and introducing a reward loyalty program shortly. We have incredible SEO to target our individual landing pages i.e. study abroad, wedding, fundraiser, social (saving), celebration trips etc
How do you think about market size?
Market size is huge for myTab. With $100b of the $700b travel market using travel for wedding/honeymoon registries, study abroad, social travels with family/friends, holiday season travel and add that to $100b gift cards purchased a year (70% for birthdays) - we have a amazing potential in the market. Remember, it's not just about gifting towards travel, it's also for saving for your own trips! And then there's licensing - eretailers must wait 3-7 years to class defunct gift cards as revenue and then must pay taxes on this (breakage fees). Our technology accelerates the value & turnaround in purchases 3 times faster. That's a massive chunk of extra revenue for the eretailer & a new wave of loyalty by the consumer.
myTab.co is not conducting a Regulation Crowdfunding offering. Hosted by Wefunder Inc.
How: Founder Heddi Cundle describes MyTab as an online travel gift card that allows friends and family members to help fund a recipient's dream trip. "It's a very simply way to save cash for trips and for others to contribute toward the trip,
What are you working on right now? Working on http://mytab.co/ (yes, .co) travel gift card. Where you can save travel cash and shout ‘put it on myTab’ so friends and family contribute towards your dream trip. Then use any or all funds towards travel,
Heddi Cundle (“Big Cheese”, myTab) Want to travel by don’t have the dosh? myTab allows friends and family to contribute towards your trip and then helps you find travel deals. Follow Heddi on Twitter @HeddiCundle.
Request a Trip for Any Special Occasion Birthdays, promotions, graduations, and anniversaries can be leveraged to attain seed money for your next big adventure. Just create an account with new start-up site myTab, an e-gift platform
MyTab.co: The Italian getaway was only possible with the help of my honeymoon registry. I won’t be getting married again in 2013 (phew!), but birthday and holiday presents can still go into my travel fund. MyTab.co serves just this purpose,
Travel Funds Through myTab.co Help fund a friend's dream trip through myTab.co, which lets the dreamer sign up to create and calculate a getaway, then post the fundraising effort on Facebook so that anyone who wants to can contribute.
For all those reluctant holiday shoppers who hate long lines, Heddi Cundle has a suggestion: Give the gift of travel. Cundle is the founder and self-titled “big cheese” of myTab.co, a website she launched last year
Keeping tabs on travel Speaking of check-ins this brings us to the next app; myTab’s check-in Facebook app, which tells your friends about your ‘full trip’. Developed by myTab.co, an online gift card which allows you save and fundraise for you dream trip
Think of myTab as your holiday savings fund for gifted travel cash from friends and family. Save travel cash, have loved ones donate towards your travels, plan your trip & simply redeem the funds when you book - all on mytab.co.
myTab's launched last year to offer simple group travel gifting, giving friends and family an easy way to fund travel expenditures for each other. myTab brings in social networking elements to its online travel gift service.
THE PROBLEM: You have an upcoming milestone (like an important birthday) that you would like to celebrate with a vacation. But you need help affording your dream trip.
THE FIX: MyTab.co, appearing last July, lets you share your dream destination with friends through Facebook and enable them to chip in to cover the cost of your tab via PayPal.
There’s an online tool called myTab. It uses PayPal so you can deposit money specifically for that trip. If you’re traveling with a group, you can all put funds into the same account, and others can help you out.
Another startup is San Francisco-based myTab Inc., which Heddi Cundle founded late last year with her own savings. Cundle says she is looking to raise $1.5 million to $2 million in funding for her company, which she calls a social travel gift registry
Well, earning money for study abroad just got a whole lot easier thanks to myTab, a brand new company integrated with Facebook that allows students to raise funds for study abroad through gifts from family and friends. It’s basically a gift registry, like you may have for a wedding or baby shower, but for travel (including study abroad). myTab just took gift registry to a whole new level!
Ever get a bunch of clothes or gift cards from friends and family for your birthday and secretly wish that they would've just given you money for an awesome trip? Travel gift registry myTab, based in San Francisco, is a new tool that lets you notify friends and family of your travel wish, receive cash from them and then book your travel.
Albert Einstein’s definition of insanity is: “Doing the same thing over and over again and expecting different results.”
We repeat the same travel booking patterns because there’s no loyalty incentive:
Spending hours scouring for best prices
Organizer recouping cash for group trips
Frustration with reward point restrictions
Disappointed by last minute price increases.
Whilst great travel sites include recommendations, booking, planning etc, they only address one piece of the puzzle. At the end of the day, the user wants the best price. myTab encapsulates all these problems through the simple art of gifting.
June 6, 2011
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