Alio, Momentum Ventures’ newest online business, has finally launched, becoming Momentum Ventures’ seventh new business.
Developed as a direct competitor to heavy hitters in the online travel space like Expedia and Priceline, Alio is an online travel agency offering low-cost flight and travel insurance to the American marketplace. Built from the ground up using the years of experience gained from launching FlightHub in 2012, Alio will be supplementing its offering post-launch with the inclusion of hotels, cruises, and more in the future. But how did this new service come to be?
The story of Alio begins in 2012 with the launch of FlightHub. FlightHub was built closer to the dawn of the online travel age and was Momentum Ventures first foray into the online travel market. Gaining huge traction in the Canadian marketplace quickly, FlightHub has grown to massive heights as a Canadian online travel agency, banking over $1.5 billion annually, employing over 400 people globally, and serving over one million Canadian travellers annually. Momentum Ventures’ CEO Matt Keezer says what Alio is planning to do is build a full-service online travel agency that can push online travel to the next level, saying “Alio is a culmination of everything we have learned being knee deep in the highly competitive online travel space since 2012,” adding “this loops back to the essence of Momentum Ventures’ business strategy of introducing timely innovation after mastering a specific industry and excelling from there.”
Where FlightHub focuses largely on flights, travel insurance, and hotels, Alio will be expanding on that online travel offering by introducing popular travel options like cruises, rental cars, tours, and other activities in addition to the golden standard of flights and hotel. Combined with the experience and technical know-how gleaned from working in such proximity with the FlightHub development team, Alio will also have the most comprehensive marketplace for travel related needs, positioning it well to compete with the biggest names in online travel.
But what does Momentum Ventures have to do with Alio? Momentum Ventures was established in 2007 in Montreal, Quebec as a technology company that builds winning businesses online. Wanting to be known as an anti-venture capital firm, Momentum Ventures scraps the traditional, and statistically flawed, venture capital model of blasting questionable funding across the tech horizon, and instead works with a more deliberate, and more focused business development model. Launching seven different online businesses in the last eight years, Momentum Ventures has a perfect record of launching online businesses. Aside from online travel agencies, Momentum Ventures has also tackled the online streaming, affiliate marketing, and advertisement serving industry. This has been done by keeping all development in-house, having veteran technology mentors on-staff, and finding the right business leaders to shepherd businesses towards success.
Momentum Ventures’ next business is likely to come from a completely different source. Momentum Ventures, as part of their new website launch and rebrand, have introduced the Momentum Ventures Challenge. The Momentum Ventures Challenge is an out-reach project to students and young professionals with the aim of finding new business leaders and jumpstarting entrepreneurialism. The chosen candidate will be entitled to a full-time position at Momentum Ventures, a minimum 500K investment in a new online business, and access to Momentum Ventures’ exceptional mentors and support systems. To get more information on the Challenge, visit Momentum Ventures’ website and click on the Challenge.