STARTUP STAGE: Wanderboat wants to be an AI-companion for travel planning

What is your 30-second pitch to investors?

Wanderboat is a travel and outing artificial intelligence companion tool designed to find and sort the best point of interest
with videos, images and insights. From signature dishes to iconic photo spots,
you can ask questions freely in-chat, in-document or on-map for personalized
experiences. 

Wanderboat provides an
AI-augmented forum for users to discover new ideas, post unique experiences and
connect with fellow travelers, fostering a community-oriented approach for
inspiration and sharing.

The platform allows for you
to upload a collection of links or documents that spark your interest and will
tailor a list of insights ready-to-use. 

Describe both the business and technology aspects of
your startup.

Unlike online travel
agencies, Wanderboat focuses on optimizing a user’s end-to-end experiences
beyond any single-source inventory. It aims to generate future revenue from
affiliate models from hotels and experience bookin, and advertising models for
promoting content.

Wanderboat is constantly
learning about each user and seeks to provide the most comprehensive and
beneficial information, as opposed to a single purpose, just for transactions.
The proprietary AI technology consists of its own orchestration system, AI search
engine, and personalization engine. 

With global reach,
multilingual support, and strategic partnerships, Wanderboat provides
comprehensive travel services and fosters a strong community of travelers.

Give us your SWOT (Strengths, Weaknesses,
Opportunities, Threats) analysis of the company.

• Strengths – We take a human approach to AI by
  fostering creativity and exploration, easing the travel-planning burden and
  instant searching needs for outing. In this way, people can spend less time
  researching, more time experiencing. 
•  Weaknesses – As a brand new platform, Wanderboat is not widely recognized in the
  market. 
• Opportunities
  • Unless one
    is hiring a travel agent, planning is still a manual, fragmented and
    time-intensive process. A breakthrough in efficiency aligns with the user’s
    expectation.
  • Post-quarantine, the travel industry continues to recover and there is an increasing demand amongst travelers for a personalized travel experience instead of standard packages. This offers a significant opportunity for AI + big data companies.
  • There is no single place where travelers can efficiently discover places, experiences and ideas. Users need to go to multiple products, e.g. Google, TripAdvisor, Instagram, Reddit, etc., to be able to set up a comprehensive view about a place.
  • Hiring a travel agent can be expensive and not in budget for some travelers. 
• Threats
  • There is an influx of AI-based travel services as well as rapid advancements in AI and technology that require consistent innovation to stay competitive.

What are the travel pain points you are trying to
alleviate from both the customer and the industry perspective?

There are multiple AI
travel tools on the market, but there has yet to be a stand out option that
truly serves the needs of travelers. Many are impersonal or underdeveloped
leaving a clear opportunity for a leading AI tool in the travel industry  – we aim to be that player.

Features that differentiate
Wanderboat:

• A single entry point to discover places, ideas and experienc
• A community for travelers to share and discover trustworthy ideas and
  experiences.
• Efficient travel planning
• 24/7 travel companion for any spontaneous request

So you’ve got the product, now how will you get lots
of customers?

We are taking a
multi-channel approach to marketing, leveraging press, social media, SEO, email
and partnerships to drive awareness. The demand for AI travel tools is high and
we feel that once consumers try Wanderboat, we will quickly be their preferred
platform. 

Tell us what process you’ve gone through to
establish a genuine need for your company and the size of the addressable
market.

Our team has extensive experience in AI and
recognized early on that there was a need for travel tools that focus on the
human experience and customized recommendations versus simply being an
aggregate of search results. Additionally, seven in 10 Americans are either
using, planning to use or open to using artificial intelligence tools for
travel planning, according to MoneyLion’s “2024 Travel & AI Trends Report,”
showing a significant consumer demand.

How and when will you make money?

Right now our priorities are fully launching the
platform and preparing for several other updates that will launch over the next
few months. 

What are the backgrounds and previous achievements
of the founding team?

Wanderboat
is founded by AI researchers from prominent technology companies Microsoft and
Meta. Our founder and CEO, You Wu, has extensive expertise in Natural Language
Processing (NLP)  and Large Language
Model development. He previously served as a principal applied scientist at
Microsoft AI, where he played a key role in the development of Copilot, their
AI companion, and Bing Chat and Bing Search. Wanderboat merges his passion for
building sophisticated AI applications with his love for travel. 

How have you addressed diversity and inclusion within your business?

As we grow, diversity and inclusion will be a
priority to reflect the fact that travel is a universal experience. 

What’s been the most difficult part of founding the
business so far?

The most
difficult part of founding Wanderboat so far has been balancing the technical
development with making sure it’s easy for people to use. We need to build a
powerful AI platform that brings together various travel services seamlessly.

Additionally,
people have different travel needs – whether it’s hiking, snowboarding, family
visits, cultural travel and so on – each with different behaviors and
expectations for their outcomes. 

On top of
that, forming strategic partnerships, securing funding, and scaling our
operations have been challenging. Competing in a crowded industry and earning
the trust of our users has also been tough but incredibly rewarding.

Generally, travel startups face a fairly tough time
making an impact – so why are you going to be one of lucky ones?

Travel
startups often struggle to make an impact because the market is so competitive, but we believe Wanderboat has what it takes to stand out.

Our advanced
AI technology offers personalized travel recommendations, catering to diverse
needs. We integrate various travel services into one easy-to-use platform,
making the entire travel planning process seamless. Our AI also changes how
people interact with the travel industry, making it more intuitive and
efficient.

With a
passionate team and a clear vision, we believe we have what it takes to become
a go-to travel app.

A year from now, what state do you think your
startup will be in?

A year from
now, we envision Wanderboat in a strong and growing position. We aim to have a
solid user base that actively engages with our platform for their travel
planning and outing needs. Our AI technology will be even more advanced,
offering even more personalized and intuitive recommendations.

We
anticipate having a wider range of partnerships with key players in the travel
industry, allowing us to offer more comprehensive and exclusive deals to our
users. Our platform will continue to evolve based on user feedback, ensuring we
meet and exceed their expectations.

Financially,
we expect to have secured additional funding to support our growth and
expansion plans. Our team will also have grown, bringing in more talent to help
drive our mission forward.

Overall, we
see Wanderboat becoming a recognized and trusted name in the travel industry,
known for making travel planning and outing easier, more efficient, and more
enjoyable for everyone.

What is your end-game? (Going public, acquisition,
growing and staying private, etc.)

Our end-game
for Wanderboat is to become the next-generation’s place for travel and outing
just like a combination of TripAdvisor and Yelp. Our mission is to create
immersive and personalized AI experiences that seamlessly integrate into users’
real-world activities. 

While we are
open to various possibilities, our primary focus is on sustained growth and
innovation. Whether that means eventually going public, considering acquisition
opportunities, or continuing to grow as a private company will depend on what
best supports our mission and vision at the time.

Ultimately,
our goal is to create a platform that travelers around the world rely on for
all their travel and outing needs, making Wanderboat a household name
synonymous with exceptional travel and outing experiences.