Cancelon
Marketplace for Non-refundable Hotel Reservations
Company Overview
Snapshot
Founded in May 2011 by Omer Granot and Efrat Kaul, Cancelon operated with 51–200 employees. The company was acquired by Holisto in August 2020.
Business overview
Cancelon developed a worldwide marketplace enabling users to buy and sell unneeded hotel reservations. This platform allowed travelers unable to use their bookings to mitigate losses by selling non-refundable reservations, thereby serving the travel and hospitality industries. Cancelon operated within the Fintech & Insurtech sector, specifically leveraging web platforms for e-commerce and distribution channels.
Strategic signal
In August 2020, Cancelon was acquired by Holisto (formerly Splitty), a move that signaled consolidation within the online travel market. This acquisition allowed Holisto to integrate Cancelon's customer base and strategic distribution partnerships, aiming to create a more comprehensive online travel agency offering competitive hotel deals. The event highlighted the strategic value of Cancelon's marketplace model in a challenging industry landscape, particularly for companies seeking to expand their global reach and leverage marketing efficiencies.
Log in to access full profile ›Company Intelligence Q&A
- What was Cancelon's primary business model?
- Cancelon operated a marketplace where individuals could buy and sell non-refundable hotel reservations, allowing travelers to recover costs from unused bookings and offering discounted rates to buyers.
- When was Cancelon founded and by whom?
- Cancelon was founded in May 2011 by co-founders Omer Granot and Efrat Kaul.
- What was a significant corporate event for Cancelon?
- In August 2020, Cancelon was acquired by Holisto (formerly Splitty), leading to its inactivation.
- Which company acquired Cancelon?
- Cancelon was acquired by Holisto in August 2020.
- What was the strategic rationale behind the acquisition of Cancelon?
- The acquisition of Cancelon by Holisto in August 2020 was aimed at expanding Holisto's global reach and leveraging Cancelon's customer base and strategic distribution partnerships to create a more distinctive online travel agency.