ReviewPro Does Layoffs While Trying to Raise $10 Million
Skift Take
Reputation management firms such as ReviewPro are evolving into being more than reputation management firms as the competition heats up. One of the key issues for hotels is that many of these tools aren't truly global, failing to tie into Chinese social networks, for example, and working only in a limited number of languages.
Reputation management and hospitality analytics firm ReviewPro is trying to raise nearly $10 million in funding as it broadens its data products and expands into restaurants, Skift has learned. This is happening as it also recently laid off seven of its employees, about 10 percent of its total workforce.
Skift obtained Barcelona-based ReviewPro's investor deck, outlining its growth strategy, which entails expanding into reputation management for restaurants, and the launch of new data tools such as a revenue optimizer, hotel assessment reports, and guest satisfaction surveys.
ReviewPro, according to this November 2013 presentation, saw 47% revenue growth to $3.46 million in 2013, and counted nearly 6,000 hotels as customers. ReviewPro projects 2014 revenue at $6.1 million, which would be a whopping 76% leap -- if it actually happens.
After ReviewPro recently fired the
