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From $0 in revenue to a $7.25B valuation: Why TripActions’ $275M raise has fintech to thank
https://techcrunch.com/2021/10/13/from-0-in-revenue-to-a-7-25b-valuation-why-tripactions-275m-raise-has-fintech-to-thank/
Prior to the COVID-19 pandemic, TripActions was primarily known for merging many aspects of corporate trip booking — flights, hotels and rental cars — with expense tracking.
But Palo Alto-based TripActions was among the startups that was hit very hard by the COVID-19 pandemic. In fact, the global crisis resulted in its revenue dropping to $0, according to CEO and co-founder Ariel Cohen. In March 2020, the company made headlines for laying off nearly 300 employees in the face of a slowdown in business related to the pandemic.