Wedding travel specialist LoveJourney bags 8-digit funding
LoveJourney, a Hangzhou-based online platform offering tailor-made wedding travels, has received tens of millions of yuan, which will be used on international content standardization and business development.
36 Kr reported that LoveJourney, an online platform specialized in tailored wedding travel, has received a strategic investment to the tune of tens of millions of yuan from Hong Kong-based Bao Shinn International Express and other institutional investors overseas. The funds raised are earmarked for international content standardization and business development.
Destination weddings are becoming increasingly popular as consumers desire personalized and quality weddings, and the wedding industry has also benefited from the ongoing growth of outbound travel and customized travel. In the first half of 2017, the number of honeymoon trips in China increased by 20%, and nearly 60% of the 14 million newly-weds chose overseas honeymoon packages, according to Ctrip's 2017 Honeymoon Travel Report.
LoveJourney, originally a Hong Kong company but now headquartered in Hangzhou, has built a pool of overseas destination hotel venues and wedding service providers in Hong Kong that it can tap into to serve to thousands of couples each year.
The platform connects international destination wedding service providers with China’s wedding agencies. Through the platform, overseas service providers can expand their market share in China, while China’s operators can lower the costs of accessing destination wedding packages.
The platform offers various categories of products, such as wedding destinations, wedding photo shoots, honeymoon packages and global hotel accommodation. LoveJourney targets both business operators (travel agencies, wedding companies, etc.) and individual customers.
Launched in July 2017, LoveJourney is still building its user base. It has already developed case studies for different categories of services and has secured certifications and connections with suppliers. It is also maintaining smooth operation so far. It is available on computers and mobiles, and the mobile application is under development.
Having built strategic cooperation with Baidu, Taobao, Sina Weibo, Ctrip, Unique Way, Marrymemo and China Wedding Expo, LoveJourney has developed technological interface, booking, data and exclusive channels with the partners. LoveJourney hopes to connect with other major online platforms like JD.COM, Meituan, Tuniu and Tmall by the end of this year. The LoveJourney platform also serves as a one-stop channel for overseas wedding suppliers to distribute information and manage bookings across multiple platforms.
To optimize user experience, LoveJourney plans to recruit nearly a thousand wedding travel specialists worldwide to provide users with destination services. These specialists could become channels for acquiring users for the platform.