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.
Wefunder supports three different federal laws that allow startups to raise money legally. To comply with the law, Wefunder Advisors LLC and Wefunder Portal LLC (both owned by Wefunder Inc) also list startups depending on the regulation used.
Legal May 16th 2016
Wefunder Portal LLC
for 267 startups
Wefunder Advisors LLC
for 100 startups
for 2 startups
Curious how well the companies have done? Or how many raised follow-on financing?
Some fine print: 1) These numbers include startups currently live on Wefunder if they pass their minimum target. 2) Some startups use two different laws at the same time (i.e., Regulation D and Regulation Crowdfunding).
Join 629,892 investors who funded 353 startups with over $124 million1
wefunder.com/mytabco is managed by
Wefunder Inc. runs wefunder.com and is the parent company of Wefunder Advisors LLC and Wefunder Portal LLC. Wefunder Advisors is an exempt reporting adviser that advises SPVs used in Reg D offerings. Wefunder Portal is a funding portal (CRD #283503) that operates sections of wefunder.com where some Regulation Crowdfunding offerings are made.
Wefunder, Inc. operates sections of wefunder.com where some Regulation D and A offerings are made. Wefunder, Inc. is not regulated as either a broker-dealer or funding portal and is not a member of FINRA.
You may also view our Privacy Notice.
Wefunder, Inc., Wefunder Advisors LLC, and Wefunder Portal
LLC do not review user-generated content beyond what's
required by US law. Some user-generated content, including investor
biographical information, may not be accurate.