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Globetrotter VR

Platform for immersive & interactive VR tours

Cyprus
Market: Internet and IT, Information and media, Tourism, sport
Stage of the project: Prototype or product is ready

Date of last change: 10.08.2020
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Idea

We are creating a virtual portal that allows travelers to explore the world through immersive and interactive virtual tours, learn about cultures with professional guides.

Current Status

* Product in development and tested with alpha users
* Technology enabling on-demand and live guided tours
* Beta website built https://globetrotter-vr.com
* Client base 1436 users
* Hired CTO and UI Designer
* Interviewing promising candidates for CMO position
* alpha testers love the product
* established partnerships with tour companies with presence in over 20 top tourism destinations
* established partnerships with content creations in top 10 tourism destinations
* press coverage in the several UK and international outlets:
Divernet, W 2.0, Arianna Huffington's Thrive Global, Authority Magazine, Out With Trade.

Market

We are targeting the affluent traveler between 25-34 years of age, with an affinity to technology. More than 80%of them take on average 5.6trips per year, 53% of them participate in sightseeing activities, 40% of them value online and virtual experiences.

Problem or Opportunity

Travel will never be the same again.

1. Pandemic disrupted of global travel
2. Travel sector is one of the "most at risk" from a post-pandemic recession
3. Negative environmental impacts of growing global travel

Solution (product or service)

Virtual tours as new way of exploring the world. Users can travel virtually without leaving their home. Tour providers are able to generate income through alternative streams. Travel becomes more sustainable through the use of technology.

Competitors

Many players in the market are now jumping on the trend of "virtual tours" (eg. Airbnb, withLocals), however they are not actually using VR technology. Their online experiences are created by people with no tech background or an understanding of what it takes to make a virtual experience.

There are many real virtual tours, however they lack the live interactive and human element that we offer.

Finally, we are creating a unified platform for virtual tours. Right now, there is a myriad of virtual tours and experiences all over the internet and the user has a hard time finding what they want.

Advantages or differentiators

Our team uses best-in-class web-based VR, has unparallel expertise in UI design and designing travel experiences specifically.

We are combining both the tech and the knowledge of amazing, passionate travel guides to bring our tours to life.

We will offer the convenience of a global portal with access to many countries and interests.

Finance

Sales: B2C sale of pre-recorded virtual tours ($11-$15)
B2C sale of live virtual tours ($17-$35)
Profit is split between us (60%), content creators (10%) and tour guides (30%)

Cost Structure:
Production of VR tours through content partners (hybrid of small upfront payment + 10% royalties from profit
HR
IT

Business model

Value proposition:
unrestricted travel in the post-pandemic world
learning new things and discovering cultures in a more convenient, cost-effective, and sustainable way

Tour guides:
access to travelers in the post-pandemic world.
Alternative revenue streams
Convenience and usability

Key Activities:
Production of virtual tours.
Providing the technological platform
Sell tours via globetrotter-vr.com.

Money will be spent on

Money will be used for the development of virtual tours and the platform, salaries, and marketing.

Offer for investor

To be discussed in the meeting.

Team or Management

Risks

We believe the biggest risk is our competition. Large players like Airbnb have a lot of capital that they can invest into developing their virtual tours business line. However, we are hoping that due to the expertise in working with immersive technology and our ability to move quickly as a start up, we will be able to grow out a brand and a solid base of users.

Incubation/Acceleration programs accomplishment

IDEA Incubator in Cyprus

Won the competition and other awards

Best VR Travel Award, VR Festival, Las Vegas, US (2018)

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video