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WONDERFLY

Online Booking Platform For Travel Activities & Services

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY
  • Based in Malaysia, Wonderfly is an online platform for locals and tourists to discover and book travel activities and services in South East Asia.
  • Our mission is to bridge the online-offline gap in the travel activities industry in South East Asia.
  • Launched in 2016, Wonderfly started off by empowering local activity operators in Malaysia to go online and market their activities on Wonderfly platforms.
  • Our vision is to empower 1000 operators in South East Asia to go online on Wonderfly platforms by 2022.
  • With laser focus on localisation, Wonderfly has established itself as the leading player in Malaysia with over 300K user base and a wide Malaysian product coverage.
  • Our end goal is to be an end-to-end technology solution provider to activity operators in S.E.A

Wonderfly's facts & figures:

1) 4 years of proven track record

Revenue has grown from RM 950k in 2016 to RM 24 million in 2019 with CAGR of 124%, recording profits for 2 years in a row (2018 & 2019).

2) Strong unit economics

-x67 capital efficiency – Grew Wonderfly with RM 600k funding to RM 40 million cumulative revenue (2016-2019)

-x5.7 marketing efficiency – Turned RM 7 million cumulative marketing budget to RM 40 million cumulative revenue (2016-2019)

3) Highly defensible model

More than just a B2C platform. Our end goal is to provide an end-to-end technology solution to our operator partners, to serve both their commericial and operational needs.

4) Growth opportunities ahead of the new normal

(i) Boom in domestic travel - an area where Wonderfly has been focusing on since Day 1.

(ii) Acceleration in digital adoption – more people and operators are going online, getting accustomed to online bookings, and thus, expanding our online market size rapidly.

(iii) Upselling opportunities - bundling our activities with safety-related products to make travel fun and safe at the same time.

(iv) Bigger market share for the survivors - with our lean model, we're well structured to weather the covid-19 storm and emerge stronger after the crisis.

5) Proprietary technology

Our web and mobile platforms are built from scratch & 100% owned by Wonderfly.

PROBLEM

There are 3 main sectors in the travel industry.

  • Flights – Almost fully digitalised
  • Accommodations - Almost fully digitalised
  • Activities – Largely offline Activities are theme parks, shows, events, tours & local experiences.

2016 data shows that 80% of travel activities were booked offline in South East Asia. 2 key reasons:

As a result, travellers had to book activities offline, i.e, queue up to purchase tickets over the counter, go through a travel agent to plan a trip itinerary, haggle with multiple tour guides over the price of a city tour.

  • The idea of Wonderfly stemmed from Triston’s unpleasant experience booking show tickets in Vietnam. He spent an hour in the queue to purchase entrance tickets only to realise that the tickets were all sold out for that day.
  • Left the place feeling extremely frustrated, he then had a deep analysis on the whole experience – he felt that the show operator could’ve better managed the bookings and customer experience with technology.
  • It was strange that he could book his flight & accommodation online but not the activities. The whole booking experience was incomplete/broken.
  • He went back to Malaysia to do further digging and found out that not just Vietnam, but in other parts of S.E.A (including Malaysia), majority of the activity operators (theme parks, museums, tour operators, show/event organizers) were still running their businesses with pen and paper; pretty much running their day-to-day operations manually.
  • It was a clear signal that it was the beginning of digital transformation for travel activities industry in South East Asia.
  • Wonderfly was founded to fill the void by playing a key role in initiating and driving the digital transformation for the region.
SOLUTION

Wonderfly serves an online booking platform that aggregates activity operators under one roof and markets their activities online to both locals and tourists.

  • With Wonderfly, travellers can now book local activities via our web platform & mobile apps seamlessly at their fingertips. No more going through long queues just to purchase tickets or haggling with different tour guides for your tour booking.

  • Wonderfly provides its proprietary technology to their operator partners to manage their bookings & redemptions from Wonderfly.

PRODUCT

Wonderfly offers a variety of products aimed to provide travellers with a wholesome end to end Malaysian experience. Our diverse catalogue helps travellers discover the best of mainstream attractions and uncover exotic hidden gems throughout our country. 

Whether you’re a local or a faraway traveller, Wonderfly serves as a gateway to the very best of Malaysia.

 

TRACTION

Instead of pursuing the high growth path, we take a different approach by practising a hybrid model balancing both growth and sustainability. With just a small funding of RM 600k, we skyrocketed our sales from 0 to RM 24 million revenue in a sustainable way, recording profits for 2 years in a row (2018-2019).

CUSTOMERS
Partners

Through years of hard work and dedication, we’ve built strong ties with our operator-partners, consistently delivering highly localied values and more importantly, sales to them since Day 1.

BUSINESS MODEL

Wonderfly has 2 revenue streams :

1) Business-to-Consumer (B2C) - we have both web and mobile B2C platform where locals and tourists can discover and book local travel activities and services seamlessly at their fingertips.

Check out Wonderfly's B2C website here -> www.wonderfly.asia or alternatively, you can download our mobile app and get RM 10 off your first mobile booking.

2) Business-to-Business (B2B) - we have an agent portal where our b2b customers (travel agencies, OTAs, ticketing agents) can log in and book activities in bulk at competitive agent rates.

Check it out here -> http://agent.wonderfly.asia/

MARKET

According to Department of Statistics Malaysia, the travel activities market in Malaysia is worth RM 8.3 billion. Based on our FY2019 revenue which is RM 24 million, our market share in Malaysia is about 0.30% which clearly shows there's plenty of room for growth in the activities sector, even in Malaysia alone. Our long-term goal is to build a strong regional presence in South East Asia, a huge market estimated to be worth RM 40 billion. According to a report by Google-Termasek, the online travel market in South East Asia is expected to grow 15 percent year-on-year, reaching a GMV of RM 312 billion by 2025.

COMPETITION

Globally, the activities industry is still in its infancy stage. It is a huge industry (~$150 billion) and is still mostly offline, but fast being digitialised globally - a trend noted in the airlines and hotel industry who are ahead of this curve. The global players collectively own less than 2-3% of global share, signalising that there's plenty of room for digitalisation and growth in this sector. Our focus is on the underserved region, South East Asia, providing a differentiated solution offering our end-to-end technology to our existing and future operator-partners to digitalise both their commercial and operational side of their business.

From a  B2C perspective, we have been strongly localising every aspect of the business from Day 1 - from our customer experience, product acquisition to marketing, offering our local and international customers, a top-notch customer support and highly curated local experiences (both mainstream and exotic activities) under one roof. The bigger picture is to focus on the untapped online-offline opportunities ~ 80% of the S.E.A market & levearge our local advantages to seize the opportunites to build a massive business out of it.

FUNDING

We are looking to raise minimum RM 500k - RM 4.5 million maximum for our expansion. In general, 50% of the funding will go to marketing & branding, 35% for working capital, and 15% payroll and team expansion.

VISION

Vision : To empower 1000 operators to go online on Wonderfly by 2022.

INVESTORS

Wonderfly’s humble beginnings stems from those who believed in us. Our handful of angels who trusted us with the pillars of growth now see their fruits ripen and reap the rewards of our progress. Our faithful investors hail from a diverse range of high-standing positions and successful ventures. We have previously raised RM 600k in 2016 from angel investors with a diverse range of expertise (e-commerce, finance, travel) that we can draw on to scale Wonderfly rapidly and efficiently.

FOUNDERS

Both Triston and Sam have a shared passion towards technology and tourism. Together, they have navigated the ups and downs of building a business from scratch, faced the challenges of overcoming mountainous obstacles, and celebrated the triumphs that Wonderfly merits.

TEAM

Our Wonderfly team (or as we like to call it - Wonderfliers!) consists of vibrant individuals hungry to push their talents beyond the boundaries. The team works in unity with a shared goal in mind and strives to excel in every aspect of their duties. Together, we seek to achieve milestones with Wonderfly and in turn, elevate Malaysian tourism to new heights.

PRESS

The Star

https://www.thestar.com.my/metro/metro-news/2019/11/15/project-sea-to-conserve-marine-life

TTR Weekly

https://www.ttrweekly.com/site/2019/10/book-malaysias-attractions-on-mobile-app/

Web in Travel

https://www.webintravel.com/the-wrap-webbeds-launches-destination-index-in-support-of-hong-kongs-travel-industry/

Oriental Daily

https://www.orientaldaily.com.my/index.php/news/rwf/2019/11/23/315753

Marketing Interactive

https://www.marketing-interactive.com/my-online-booking-platform-wonderfly-unveils-mobile-app-to-boost-ux

 


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