GMPVC, a venture firm backed by Germany-based media companies, has made a media for equity investment in hotel reservation service JustBook.
JustBook is the creator of a smartphone app, which allows travelers to book quality hotels spontaneously on the same day at very attractive prices. The N24 television campaign is the first major TV-marketing initiative for the Berlin-based company.
In early 2012, JustBook launched the first smartphone app for the German market allowing short-term hotel reservations. The app is available on iPhone, Android and Blackberry.
Aljoscha Kaplan, associate partner at GMPVC, said: “JustBook is one of the most exciting apps for travelers in Europe available today. The young company has a huge opportunity to take advantage of changing travel behavior. Ease and low costs of transportation coupled with increased interdependence mean that flexibility and spontaneity have become engrained in our daily lives, both private and business. JustBook has just the right service for this new lifestyle, but without limiting the freedom of hotels and squeezing them with the next unfair contract. We are very happy that JustBook trusts GMPVC as an investor and with their first big television campaign.“
Niko Waesche, managing partner of GMPVC, said: “The JustBook team is our earliest stage investment so far. Media for equity makes sense for seed companies, if the business can scale. After using the app ourselves, we have come to the conclusion that the potential for this company is huge. It solves a real problem for today’s travelers with constantly shifting schedules and also is being warmly embraced by the hotel industry. We are delighted to have been given the opportunity to support the stellar team from JustBook.“