Alex Melamud became CFO of travel technology startup Engine, driven by his belief in the company and its leadership. He previously served on Engine's board after leading its Series C financing, contributing to a valuation of $2.1 billion. Engine caters to small and midsize businesses, offering both public and proprietary hotel rates, with an average saving of 26%. The platform operates with no fees or contracts, enhancing its appeal to users. Engine's rapid growth and strategic use of AI further underline its market potential.
Melamud stated, "In my 16 years of investing, I had never come across such an enormous TAM (total addressable market) of greenfield opportunity," highlighting the potential for growth in unmanaged travel bookings.
Engine's standout feature involves both publicly available hotel rates and exclusive corporate rates, typically offering average savings of 26% while maintaining confidentiality for users.
#technology-investment #travel-technology #startup-growth #corporate-finance #artificial-intelligence
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