Flocations, ShopSpot get investment offers from SingTel Innov8, says fund’s new CEO
May 29, 2012 by Terence LEE
Flocations and ShopSpot, two of the incubatee startups at the JFDI-Innov8 2012 Bootcamp, have received investment offers from SingTel Innov8, the telco company’s investment arm.
While ShopSpot has indicated that they will accept the offer, Flocations has not made a final decision as they are still in talks with other investors.
SGE was told of the news during an exclusive interview today with SingTel Innov8 CEO Edgar Hardless, who took over as the new head just under two months ago.
Singapore-based Flocations has built a web app that enables travelers to search for destinations by price, using a highly-visual interface. Users would then be redirected to partner sites to book their plane tickets and hotel rooms.
For now, they are monetizing using a hotel affiliate program with Agoda. They plan to monetize on flight ticket purchases soon, and even move towards travel insurance, flights, e-guides, flash deals and packages. Read more
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