Eddy Travels, a digital travel assistant service founded by entrepreneur Edmundas Balcikonis, is being acquired by TripAdd, a New York-based travel product provider, a subsidiary of the Blue Ribbon Bags group, the world’s leading service for lost luggage tracking. TripAdd hopes to bolster revenues through personalized bundle recommendations for users.
Financial details of the deal, announced on Friday, were not disclosed. The companies only described it as a “multi-million dollar acquisition.”
Eddy Travels was founded in 2019 with the goal of bringing the world of travel to messaging apps, offering an artificial intelligence (AI) service that facilitates the process of travel for its customers. This includes planning flights, booking hotels, and searching for restaurants, amongst other things. The service is made possible by Eddy AI, a chatbot assistant, which uses so-called natural language processing (NLP) to help users find what they’re looking for.
Co-founder and CEO Balcikonis, is excited to join TripAdd for an optimized experience of the digital marketplace. “They are extremely business savvy, with amazing sales and marketing skills,” Balcikonis said about TripAdd, “which perfectly complement our technology and product development capabilities.”
Both parties expressed their excitement about the merger, looking to put their services together to maximize the travel experience for the customer.