It depends if they report revenue gross or net. If it is gross that means they recognize all booked travel as revenue (and earn a margin on top of that) instead of just recognizing their fee as revenue. In that case it would be much worse margins than a mature SaaS company.

If I had to guess based on the figure, I would guess gross but I'm not sure.

Sorry I should have clarified -- according to Wikipedia, they had $1.5 billion in actual net revenue by processing $23 billion in transaction volume (aka GMV).

This looks really awesome! Just curious, have you considered offering a "value added" pricing model for those who don't want to pay for a subscription? Meaning, you'd take some percent of revenue you've saved them (either as a 1x fee or as a recurring subscription as that customer stays on)?

Absolutely, we've definitely considered that. We're still experimenting with pricing!

Good to hear! If there's a way to contact you guys (LinkedIn or otherwise), I'm working on a project that has some adjacency so would love to chat if you guys have some time.

Would love to chat, contact info is at the bottom of the website, or you can email me directly (email address is in my profile).

Feel free to drop into the survey (takes < 2 minutes) so I can keep track. Appreciate the feedback!