Joyned
Joyned team
1. Market & Industry Analysis
Joyned operates at the intersection of travel technology and social commerce, addressing a growing trend of collaborative online shopping in the travel industry. The global travel and hospitality sector is massive – projected to reach $4.6 trillion by end of 20241 – offering a huge Total Addressable Market (TAM) for travel booking solutions. Within this, Joyned targets the online travel booking segment (flights, hotels, vacation rentals) where group decision-making is common. Notably, an estimated 80% of leisure trips involve more than one person, yet traditional online booking is a solo experience. This gap creates a strong market driver for social engagement tools like Joyned. The Serviceable Available Market (SAM) for Joyned includes online travel agencies (OTAs), airline and hotel sites that could integrate social booking features, collectively representing hundreds of billions in annual bookings. Joyned’s Serviceable Obtainable Market (SOM) will depend on its go-to-market focus (currently travel sites) – even capturing a few percent of OTA bookings as clients could translate into millions of group bookings.
Market Growth & Trends
Post-pandemic, travel is rebounding sharply. International tourism in 2023 recovered to ~88% of pre-pandemic levels and is expected to fully surpass 2019 volumes in 20242. Travelers, especially Millennials and Gen Z, increasingly seek digital and social experiences. Over 82% of Millennials/Gen Z say they purchase based on friend/family recommendations, and 56% of US purchasing power is held by these groups, indicating that peer influence is a critical factor in travel decisions. Joyned’s social booking taps directly into this dynamic, riding the broader social commerce wave.
Globally, social commerce sales are projected to exceed $1 trillion by 20283, growing ~20-30% CAGR (see chart below). This underscores a consumer shift toward shopping experiences infused with social interaction. Global social commerce sales have been growing rapidly, expected to nearly double from ~$570B in 2023 to over $1 trillion by 2028. Joyned’s focus on social shopping in travel leverages this broader trend of consumers seeking interactive, shared shopping experiences.
Competitive Landscape & Positioning
In the travel tech niche, Joyned is pioneering “on-site” social booking. Traditional competitors are indirect – travelers currently use external tools (WhatsApp, email, social media) to discuss trips, or B2C platforms like Travello or Travel Buddy to find travel partners. Those B2C apps, however, require users to leave the booking site and use separate apps. Joyned’s B2B approach, integrating into travel websites, is unique in letting groups plan directly on the merchant’s site. This differentiation makes Joyned more of a partner to OTAs than a competitor. Major travel sites (Booking.com, Expedia) have yet to build similar collaborative features natively – giving Joyned a first-mover advantage in providing a turnkey solution. Competitors in social commerce enablement for retail (outside travel) include startups like Squadded or China’s Pinduoduo (which pioneered group purchasing), but in travel specifically Joyned’s off-the-shelf solution is novel. Joyned’s partnership with Amadeus (a leading travel tech provider) further cements its positioning by aligning with an incumbent. Macroeconomic and regulatory factors: The travel industry is sensitive to economic swings and crises (e.g. pandemics, geopolitical events). However, even in downturns, the need for better conversion and lower acquisition costs (which Joyned provides) remains. Data privacy is a consideration – Joyned smartly designed a no-registration, GDPR-compliant system mitigating regulatory risk around user data. Overall, Joyned is positioned as a value-adding enhancer in a huge market, with minimal direct competition in on-site social booking, and resilience to macro risks due to its cost-saving value proposition for travel sites.
2. Technology & Innovation Assessment
Joyned’s core innovation lies in its social commerce platform that embeds into e-commerce sites (currently travel booking engines) to enable real-time collaboration. The technology creates a secure, private session where invited users can chat, react, and vote on options – without needing any app or plugin on the user side . This seamless integration is a key differentiator: Joyned provides a snippet or API for websites that opens a collaborative layer on top of their normal booking UI. The platform includes discussion threads, rating tools, and group decision support, summarizing group rankings of hotels or flights automatically . This simplifies group choices that would otherwise happen off-platform.
Behind the scenes, Joyned’s tech leverages elements of AI and data analytics. It’s described as an “AI-based social revenue platform” that analyzes critical data like price perception and sentiment from the group chat. By parsing conversation content (using NLP) and user interactions, Joyned can infer intent and preferences. For example, if the group keeps mentioning “budget” or prefers certain locations, the system can prompt the booking site to tailor deals accordingly. This provides travel sites with rich first-party data on customer preferences during the decision journey – data that was previously lost when users left to discuss externally. Notably, Joyned’s AI highlights when users hesitate at price or mention specific concerns, allowing the site to deploy targeted offers in real time. This is a unique capability; traditional booking engines only see clicks, but Joyned surfaces contextual insights from the group discussion.
In terms of intellectual property, Joyned likely has proprietary algorithms for real-time collaborative browsing and the sentiment/intent analysis. While specifics of IP aren’t public, the novelty of on-site social shopping suggests patentable features (e.g., for synchronizing product state across users, or the UI/UX for group voting on listings). The scalability of Joyned’s tech is promising – it is delivered as a SaaS module that can be integrated via a bit of code. It’s already being used across “dozens of international travel brands”, indicating it can scale to enterprise-level traffic. The platform is cloud-based, ensuring that adding new customers (hotels, OTAs) mostly means configuration rather than new development. Future roadmap likely includes extending the AI analytics (deeper personalization based on group profiles) and supporting additional verticals (e.g. applying the tech to e-commerce sectors like fashion or event ticketing, as hinted by their plans to target fashion and electronics e-commerce). Joyned’s R&D seems ahead of incumbents in bridging social interactions with e-commerce – many large travel sites have basic “share this” links at best, whereas Joyned provides full interactivity. Compared to broader industry R&D, which focuses on recommendation engines or UI improvements, Joyned’s focus on multi-user interaction is relatively unique. This gives it a technological edge, though we can expect that if Joyned proves the value, larger players might attempt similar features. Overall, Joyned’s innovation is not in AI for pricing (others do that), but in the marriage of social UX with transactional platforms – a differentiation that is hard to replicate without significant design change for competitors.
3. Business Model & Monetization Strategy
Joyned operates a B2B2C SaaS model – it sells its software service to online businesses (B2B) to enhance those businesses’ consumer-facing experience (hence B2B2C). Its revenue model is primarily through licensing and usage feesfrom client websites. According to the company, Joyned “charges customers a per-use or per-booking fee.”. This means each time a group utilizes the Joyned feature to complete a booking, Joyned earns a fee (or a commission). This usage-based pricing aligns well with the value delivered: the client only pays when Joyned actually facilitates a booking. It also implies strong revenue scalability as volume grows. Additionally, Joyned likely has a subscription component or minimum license fee for integration support, especially with larger enterprise clients (e.g., an annual platform fee plus per-booking variable fees).
Revenue Streams
The primary revenue is from transaction fees on group bookings. If Joyned’s fee is, for example, a small percentage of booking value or a flat few dollars per booking, those can add up given high booking volumes in travel. There may also be ancillary revenue streams in the future: for instance, data analytics insights – Joyned’s platform gathers unique conversational data, which could be packaged into analytics dashboards for clients as a premium feature. Another potential stream is promotional partnerships: travel suppliers might pay to insert special offers dynamically into Joyned-enabled sessions (targeting groups discussing certain locations). However, currently the straightforward SaaS fee model is the focus.
Customer Acquisition
Joyned’s go-to-market focuses on signing up travel platforms. Notably, it secured a strategic commercial agreement with Amadeus, the largest GDS (Global Distribution System) in travel tech. This is huge for customer acquisition: Amadeus can resell Joyned’s tech to its client base of thousands of travel sites. In effect, Amadeus acts as a channel partner, dramatically lowering Joyned’s customer acquisition cost. Beyond that, Joyned has direct sales efforts targeting known travel brands (it has onboarded clients like OYO Vacation Homes, TravelUp, NexusTours, and RIU Hotels). These early adopters serve as case studies. Joyned can leverage success stories (e.g., increased conversion or larger booking sizes) to convince other travel sites. Since Joyned’s value proposition is boosting conversion rates and retention, it speaks directly to revenue-conscious e-commerce managers. Indeed, Joyned reports that retailers using the platform saw up to 15% rise in revenue and 250% increase in retention – powerful ROI metrics to attract customers.
Pricing Strategy
Likely a combination of performance-based fees and possibly tiered plans for different sizes of clients. Smaller travel websites might opt for a pure commission model, while larger enterprises might pay a license for dedicated support and customization. Joyned emphasizes reducing customer acquisition cost for retailers and increasing conversion, so its pricing can plausibly be positioned as “pay out of the incremental revenue we generate for you.” The ROI Guarantee nature of performance pricing lowers barrier to adoption. Additionally, Joyned could structure pricing to encourage widespread use (e.g., volume discounts as more bookings flow through Joyned).
Customer Retention & Unit Economics
Once integrated, Joyned becomes part of the booking flow of a site – which means high switching costs. A travel site that has trained users to plan together on its site would not want to remove that popular feature. This stickiness aids retention. Also, Joyned’s integrations involve some upfront effort, so customers are likely to stay to recoup that investment via higher sales. On the unit economics, Joyned’s model should yield high gross margins: the cost to support an additional booking is minimal (just cloud hosting and support), so the per-transaction fee is largely profit after covering fixed R&D costs. Lifetime value (LTV) of a client is potentially large: a single major OTA could generate thousands of group bookings monthly. Meanwhile, Customer acquisition cost (CAC) is kept reasonable via partnerships (like Amadeus) and targeted sales. If Joyned can demonstrate, say, a 10% conversion lift and 25% higher average order value (which it claims for travel sites), the economics for the client are so positive that churn is unlikely.
The business model also hints at recurring revenue
while Joyned’s fees are per transaction (variable), the usage tends to recur as travellers continually book trips. In essence, as long as the client site keeps Joyned enabled, Joyned has a recurring stream of microtransactions. This functions similarly to a SaaS subscription in practice, especially with multiple clients aggregating. If Joyned expands beyond travel into general e-commerce (fashion, electronics as planned), it could adopt a more standard SaaS fee (monthly fee + % of sales) which is common for e-commerce plugins. In all, Joyned’s monetization aligns with delivering measurable value (higher conversion and social referrals) and thus is structured to scale with the success of its clients – a healthy positive feedback loop for growth.
4. Competitive Landscape
Strengths
Joyned’s strengths include its first-mover advantage in on-site social shopping for travel, a clearly demonstrated value add (double-digit conversion and revenue lifts) and strong early partnerships. Its integration with Amadeus and adoption by notable travel brands give it credibility and network reach that startups rarely achieve early. Technologically, its solution is turnkey and easy to integrate, which lowers barriers for clients. The platform also yields rich behavioural data (group sentiment, preferences) that competitors don’t capture, which Joyned can leverage to continuously improve AI-driven recommendations. Another strength is the team and backing – investors include experienced tech founders (ICQ’s Yair Goldfinger) and international VC funds, indicating confidence and providing industry connections. The fact that Joyned won multiple innovation awards (e.g. Travolution Award for best tech product) underscores industry recognition.
Weaknesses
As an early-stage company (founded 2017, Series A in 2024), Joyned faces the typical weaknesses of scale and resources compared to big incumbents. It has to convince conservative travel companies to adopt a new user experience on their sites – some may be hesitant to change their booking flow or might prefer to develop in-house solutions. Joyned’s platform relies on network effects to some extent: it’s most attractive when many friends are aware of it and want to use it across travel sites, so initial adoption may be slow on sites where users aren’t familiar with collaborative booking. Another weakness is focus – so far Joyned is strongly positioned in travel, but if that market segment slows or if travel giants like Booking Holdings implement a similar feature natively, Joyned would need to diversify to other verticals to maintain growth. Additionally, Joyned’s current model of per-booking fees means it must achieve high volumes to cover operating costs; any friction in usage (like if users drop off before booking) could limit revenue – essentially it is somewhat at the mercy of its clients’ overall traffic and conversion rates.
Opportunities
The opportunities for Joyned are expansive. Within travel, it can become the de facto standard for group bookings across airlines, hotels, and tours. There’s also opportunity to expand into adjacent markets: for instance, group event ticketing (friends buying concert tickets together), group gifting in e-commerce, or even in fintech (friends discussing investment products). The social commerce trend is booming worldwide, and Joyned could white-label its solution beyond travel – any e-commerce site wanting to add a “shop together” feature could be a potential customer. Another opportunity is leveraging the data Joyned collects to create new services – e.g., a “Joyned Insights” product selling aggregated trend data to travel companies (what are groups discussing? which destinations generate the most debate?). Partnership opportunities also abound: beyond Amadeus, Joyned could partner with e-commerce platforms (Shopify, Magento) to offer plugins for retailers, which would massively broaden its reach. On the technology side, integrating emerging tech like generative AI could be an opportunity – for example, an AI travel assistant that reads the group chat and suggests optimal itinerary options, which Joyned could develop as a premium feature.
Threats
A key threat is that large platforms might replicate Joyned’s concept. If, say, Expedia or Airbnb builds their own group planning feature, they may not need Joyned for those platforms (though Joyned could still target smaller players). Also, big CRM or e-commerce software companies (Salesforce, Adobe, etc.) might eventually add social shopping modules, increasing competition. Another threat is user adoption – Joyned’s success depends on travellers actually using the feature. If end-users don’t embrace planning on-site (perhaps due to habit of using WhatsApp), travel sites might disable it. Joyned must ensure a smooth UX to mitigate this. Macroeconomic downturns in travel (pandemics, recessions) are a threat too, since less booking volume directly means less Joyned revenue. There’s also the competitive threat from general social networks: for instance, if Facebook or WhatsApp introduced an integrated travel booking widget within their chat (allowing group trip planning inside WhatsApp), it could bypass Joyned’s niche. However, that scenario would require travel site integration that Joyned already excels in. Finally, as Joyned handles conversation data, any security or privacy breach could erode trust with partners – they must maintain rigorous data protection to avoid this threat.
In a market positioning matrix, Joyned would occupy the high-value, niche corner of “on-site social engagement”, whereas traditional booking sites are high-value but low social features, and external social networks are high social but outside the transaction. Joyned effectively bridges these quadrants. Barriers to entry for direct competitors include the complexity of building real-time collaborative tech and the need for industry relationships to integrate with booking engines – Joyned’s head start and Amadeus partnership form a protective barrier. To solidify advantages, Joyned should continue rapid iteration of features (staying ahead on UX) and deepen its integrations into client workflows (becoming indispensable for conversion). So far, its strategic choices (focus on travel first, partner with big players) indicate a savvy approach to outpacing potential rivals.
5. Financial Performance & Projections
Joyned is a private early-stage company, so limited financials are publicly available. However, its fundraising history provides insight. The company completed a $4M seed round in 2021 and recently an $8M Series A in January 2024, bringing total funding to around $12 million. This Series A was led by Reach Markets with participation from several investors in Australia and Singapore, reflecting a valuation uplift and international investor confidence. PitchBook data indicates Joyned’s pre-money valuation rose significantly between seed and Series A (exact figures undisclosed, but likely in the tens of millions). The presence of 14 total investors signals a strong network of backers.
In terms of revenue growth, Joyned at seed stage would have been pre-revenue or pilot-revenue. By 2023, it had “dozens of international travel brands” as clients. Assuming even modest adoption, Joyned could begin earning revenue from those partnerships. For example, if TravelUp or OYO Vacation Homes each contribute booking fees, Joyned’s 2023 revenue might be in the low to mid six figures (USD). The focus of Series A funding is on product development and accelerating growth in international markets, implying the company is not yet profitable and is investing in expansion (which is typical at this stage). Joyned’s burn rate is likely moderate – with ~20 employees as of 2024 (many in R&D and sales), monthly burn could be on the order of $100k-$200k. The $8M raise provides a runway of ~2-3 years at that burn, giving Joyned time to increase recurring revenues.
Looking ahead, financial projections for Joyned hinge on client acquisition and usage rates. If Joyned can onboard a few major OTAs or hotel chains in 2024-2025, revenue could scale into the millions annually. For instance, one strategic partner, Amadeus, could channel Joyned to dozens of travel sites – if even 50 sites generate on average 200 group bookings/month with a $5 fee each, that’s $50,000/month ($0.6M/year) from that channel. With more direct clients and other verticals, annual revenue in 2-3 years could plausibly reach $5M+. Gross margins are very high (80%+ typical for SaaS), but Joyned will likely reinvest in growth, so operating losses are expected in the near term. The current cash runway post-Series A likely extends into late 2025; by then Joyned may either raise a Series B or reach breakeven on a monthly basis if revenues ramp up.
Regarding valuation trends, Joyned’s valuation has grown with its fundraising. Given the $8M Series A size, one might estimate the post-money valuation in 2024 could be around $30–40M (common for Israeli startups raising that amount at Series A). As Joyned proves its model and grows revenue, future valuation could be driven by multiples seen in SaaS social commerce. For example, enterprise SaaS in e-commerce often commands 5-10x forward revenue. If Joyned reaches $5M revenue by ~2026, a 8x multiple could yield a ~$40M valuation, not including strategic premium. There’s also a chance of acquisition as an exit: large travel companies or e-commerce platforms might find Joyned’s tech attractive to own. A potential exit opportunity is an acquisition by a company like Booking Holdings, Expedia Group, or even a social media player looking to integrate commerce (Facebook has experimented with group buying – acquiring Joyned would give them a ready solution for travel). Another route is being acquired by a major software provider (e.g., Salesforce or SAP could integrate Joyned into their commerce clouds to add social shopping capability). The timeline for exit is likely 3-5 years out; by then Joyned will have either scaled sufficiently for an IPO or become a prime M&A target.
An IPO is a longer-term possibility if Joyned expands globally and diversifies into multiple e-commerce verticals. To IPO, it would likely need $50M+ annual revenue and strong growth, which is a stretch goal perhaps 5-7 years away. However, the more realistic outcome in the venture’s time frame is M&A. Given strong interest in social commerce, Joyned could see a healthy exit multiple. For context, social commerce platform Bolt (group payments) or Honey (social deal-finding) were acquired for hundreds of millions – Joyned, if it dominates its niche, could command a similar range (perhaps a $100M-$200M exit) to a strategic buyer in travel or retail tech.
In summary, Joyned’s financial trajectory is just beginning. The next 1-2 years will be critical to go from funded startup to revenue-generating scale-up. The successful Series A provides capital to execute on growth, and if key metrics (user adoption, conversion lift) stay strong, follow-on investors are likely to show interest. We can expect follow-on funding in a Series B perhaps in 2025 if metrics are good – likely a larger raise ($15M+ range) to push global scale. With its compelling ROI for clients, Joyned has a path to robust revenue growth, making it a promising piece of Trivian’s portfolio from a financial perspective.
6. Founding Team & Leadership Analysis
Joyned’s founding team and leadership bring a blend of entrepreneurial experience and domain expertise that underpins its execution. CEO Jonathan Abraham and CPO Michael Levinson co-founded the company (initially called Gamitee) in 2017. Both are based in Jerusalem and appear to be young tech entrepreneurs attuned to modern consumer behaviour. Levinson, for instance, articulated the problem from a Millennial perspective – noting how younger consumers find current group travel planning clunky and offline. This suggests the founders have a personal grasp of the user problem, driving a clear vision. While detailed backgrounds are not widely public, one key advantage they tapped was Israel’s network of seasoned tech veterans: early investors/advisors include Yair Goldfinger (an Israeli tech legend as co-founder of ICQ). Goldfinger’s involvement (as seed lead) not only provided capital but also validation of the team’s capability and connections to global tech mentors.
The leadership has demonstrated strong execution capabilities. Bootstrapping from 2017, they successfully delivered a working SaaS product and secured marquee partnerships (like Amadeus) which is impressive for a startup of their size. This speaks to their strategic vision – recognizing that partnering with incumbents can accelerate adoption. CRO Jonathan Abraham has shown he can rally international investors (their Series A lead and several participants are from Australia and Singapore, indicating Jonathan’s ability to pitch and build trust across cultures). During the tumultuous events in Israel 2023, Abraham literally served reserve duty as a combat paramedic while the team “soldiered on” with operations – a testament to resilience and a strong company culture that values duty and perseverance.
The CEO Michael Levinson appears to be the product mastermind ensuring Joyned’s solution genuinely resonates with users. His insights in media interviews show a keen understanding of user experience – for example, emphasizing no downloads and ease of use. This user-centric design focus likely stems from Levinson’s background (which includes being the one who identified how Millennials and GenZ communicate via chat for shopping decisions). The combination of Abraham’s business development acumen and Levinson’s product focus is a well-matched leadership dynamic.
Beyond the founders, Joyned’s leadership includes advisors and board members with deep industry experience. Arthur Stark (former CEO of Bed, Bath & Beyond) and Rafi Ashkenazi (former CEO of PokerStars/Hard Rock Digital) were noted as seed investors – their involvement likely comes with mentorship in scaling a consumer-facing business and navigating corporate partnerships. The board probably also includes representatives from lead investors like Reach Markets who bring a private equity perspective on scaling globally. The team’s relatively small size (~20 staff) is composed of diverse talent: engineers (to build the complex real-time collaboration tech), data scientists (for the AI sentiment analysis), and sales/customer success folks for onboarding travel sites. Being based in Israel – a global travel hub and tech hotspot – gives Joyned access to top technical talent (many likely alumni of elite IDF tech units or leading startups). This technical bench strength is evidenced by Joyned’s ability to create an AI-driven platform in a short span.
One cannot overlook the cultural competency of the leadership: by partnering with Amadeus (Europe-based) and securing Australian/Singapore investors, Joyned’s leaders show they can operate globally. They have strategic vision to bridge ecosystems – e.g., bringing Israeli innovation to established travel companies worldwide.
In summary, Joyned’s founding team is passionate and battle-tested, with a clear vision of merging social media dynamics with e-commerce. They’ve effectively networked with prominent advisors and investors, enhancing their credibility. The leadership’s execution so far – raising capital, building a product, winning awards, and forming key alliances – suggests they have the grit and competence that Trivian Capital looks for. Their focus now will be on scaling up the organization (likely hiring more sales and development personnel post-funding) while maintaining the innovative culture. Given Israel’s track record of producing multi-billion dollar travel-tech companies (e.g., Booking.com’s Israeli R&D, or startups like WishTrip), Joyned’s team stands on strong shoulders and appears equipped to join those ranks.
