Product details

This is part of a case series. In February 2020, TripActions was a burgeoning corporate travel management scale-up, valued at USD4 billion, having raised nearly USD500 million since its founding in 2015 from venture capitalists including Lightspeed and A16Z. It had recently announced the launch of TripActions Liquid, an in-house payments platform to address the pain-points of travel expensing, and founders Ariel Cohen and Ilan Twig were exploring the acquisition of a large competitor that would quadruple TripActions' headcount and double its client base. Yet trouble was brewing in the background. A new virus emerging out of China at the end of 2019 was resulting in regional travel restrictions and a significant decline in travel metrics, including business flights and hotel bookings. The case covers the launch and growth of TripActions from 2015 to the outbreak of the COVID-19 pandemic in February - April 2020, focusing on how it responded to the crisis in terms of its sales, product, and financing strategies.