Vator Splash NY (December 2010)

Vator Splash NY (December 2010)

All contestants:
LetMeGo
Location: 30 East 23rd St, New York City, New York, United States United States
Founded in: 2008
Stage: Revenue generating
Number of employees: 6-15
Short URL: vator.co/letmego
Mbp-300x250

LetMeGo

stay unique, stay human
Startup/business
New York City, New York, United States United States
http://letmego.com
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Company description

LetMeGo is a revolutionary new online marketplace where travelers submit itineraries, and lodgings bid for their business. Lodgings can see other bids for any itinerary they’ve been invited to bid for, and can adjust their offers accordingly, in real time. Travelers choose the bids they like best based on features, location, and price.

LetMeGo brings several innovations to the online travel marketplace industry, including cutting-edge technology and access to all lodging types (including not just hotels and motels, but bed-and-breakfasts, apartments, vacation rentals, etc.).

 


Team
  • Alexander Torrenegra
    Alexander Torrenegra | Team member
  • Leonardo Suarez
    Leonardo Suarez | Team member
    Leonardo Suarez has been a serial entrepreneur for years, first on his own, and then as a partner with Torrenegra Labs. He received a degree in Industrial Design from Pontificia Universidad Javeriana, in Bogota, Colombia. While his career began w...
Business model

LetMeGo provides a service whereby interested travelers submit itineraries, and appropriate lodgings are invited to bid (through a semi-opaque process) on their business.  LetMeGo collects a commission from the lodgings that use our service to generate new bookings.

Competitive advantage

LetMeGo distinguishes itself in several important ways from the biggest names in the online travel and lodging industry.

Semi-Transparent Bidding Process—LetMeGo brings thereverse-auction model, which has been tremendously successful for businesses as varied as alibaba.com and elance.com, to the lodging industry. By allowing travelers to choose lodgings from which they wish to receive bids, and by allowing both travelers and lodging managers to compare those bids in real time, LetMeGo brings unprecedented clarity and efficiency to the process ofchoosing a lodging.

 Access to All Lodging Types—LetMeGo users can choose to stay in any type of lodging they choose, from hotels to vacation rentals to apartment buildings to B&Bs. All lodgings, from large chains to individual, owner-operated businesses compete on a level playing field.

Focus—Unlike many online sites, LetMeGo is focused exclusively on perfecting one aspect of the travel experience.  No flights, no car rentals: all of the company’s resources devoted to providing a best-in-class lodging marketplace.

Technology--Other travel and lodging sites have depended on outdated standards used only by hotels. LetMeGo’s systems were designed so that lodgings of all types, anywhere in the world, would be able to take full advantage of their features.