HQ: Valencia, Spain
Category: Startup Company
Principal(s): Juan Castillo, CEO
Competitive Edge: Marketplace with the biggest selection of 'free walking tours' in the world. Travelers love this concept so much, because they have the power to decide how much they are going to pay for the service, and guides spend a lot of effort to make the tour super fun, in order to get better tips.
Early Customers: People who travel a lot, especially city-break travel, have very limited time for getting to know a city and have a low budget.
Business Model: Charging guides a fixed commission of €2 per person that joins their tour (guides get on average €8 per person on tips).
Competitors: freetour.com, an international marketplace like GuruWalk, but focused on tour agencies not on freelancers, which we think will be the future of this concept (disintermediation); agencies (local competitors) like sandemans, buendia tours, etc.
Funding: €300K, with plans of closing a €1M round at the end of 2019.
Product Description: GuruWalk is the online platform that allows people from anywhere in the world to offer their services as 'free walking tour' guides. Travelers who are looking for this kind of tour in hundreds of cities around the world can find the best free tours in the destination they are visiting, see the reviews of other travelers, and book the ones they trust the most for free. At the end of the tour, travelers are just expected to pay whatever they think is fair to the guides.
Market Opportunity: There are around 200 hundred free walking tour guides just in the city of Berlin, and this concept is still unknown for 99% of the travelers yet has been growing exponentially over the past years. We believe our platform can reach 10K+ destinations and 50K guides working full time just doing 'guruwalks,' earning an average of €40K per year, and paying us €10K per year on commissions, reaching a revenue of €500M/year.