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360 STORIES

360 STORIES

Reshaping Local Activities Booking with VR/AR

Company Overview

At 360 Stories, we produce cool 360-degree photos and videos that show travelers what their next destination is really like, from their home computer, mobile or VR device. Clients can then pre-experience activities and book these real-life tours directly within the app. If we already experience the world in 360 degrees, why should we limit ourselves online?

We are not a standard VR/AR company. We are a travel tech startup focusing on innovation with new sales channels and creating an absolutely new market segment from VR/AR Travel. We are building a new product category of VR/AR Travel Booking that in the near future will dominate the process of both the pre-travel and in-travel booking of Tours and Attractions.

What Do We Know That Others Don't?

  1. Filming video content with innovative 360-degree cameras is a lot easier and offers much higher quality than hiring an average traditional video production company. Therefore, making film content that converts customers need not be as expensive as many in the travel sector think.
  2. Presenting complex activities and attractions is much easier with VR/AR. Few travelers realize what they are missing on their trips, because it takes so long to research, discover, and understand what they're paying for. Now that other companies are developing VR content that is educating the general public of its capabilities, a VR solution to travel will be demanded by more people.
  3. We are not the first movers of any tech here, but we are creating a new product category for us to dominate. No one has bet on 360 in the travel industry until now. And why would they? Most travel agencies have failed to switch to video (95% of travel content is stock images). But we know how to make a direct switch to 360 and make it a whole new market segment.
By 2020, 100 million consumers will shop in AR online and in-store, according to Gartner, Inc.

Problem: Travelers Don’t Book Activities Online

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As travelers, we grew tired of the same old stock photos and fake reviews that plague tour and activity booking sites online. We would miss great opportunities and end up in horrible places, because there is no way to trust these sites’ content. Because of this, 80%* of people, just like us, book their experiences offline! No matter how nice the stock photo or how many millions the industry players funnel into online marketing, conversion rates hover around 1%.

* But that is not the biggest issue. 85% of travelers start thinking about what they are going to do at their destination only after arriving at their hotel, so they don't have much time left to research, read and compare different websites before enjoying their activities.

What does VR have to do with all of this?

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As VR/AR entrepreneurs, we realized an opportunity. In a study released by Facebook, 71% of people from the US, UK and other countries, said they would use VR for travel. That number is even higher than the interest for VR Gaming (48%) or VR Entertainment (59%).

Solution: Inspire Trust

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With this in mind, we created an intuitive and fun platform that works online, on mobile and on VR devices, that shows travelers how fun it is to play with elephants in Thailand, walk the streets of New York, or any growing number of other fun and interesting activities around the world. What is unique about our solution, is that it uses user-generated first-person 360 videos showing teasers of the activities in easily-digestible 40-50-second clips. This is what it looks like.

Here are some examples for tours we have in Paris (Eiffel Tower), Miami (Wynwok) and Hong Kong (360 Buddhist Walk).

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Also along with 360 video we are post-producing the same output in 2D format too (Wynwood) which can be published on Youtube and other social media.

360 Stories is also expanding to new channels, reaching travelers in airports, planes, trains and hotels on their journey, with custom VR-enabled chairs. If they like what they see, they can book tickets for the real-life experience during their journey there. We are doing this in partnership with companies who are already operating in airplanes, airport lounges and hotels.

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Our long-term goal is to convert customers as they walk on the streets, when they are already at their destination. We are working on our Mobile AR App, as Mobile AR is trending right now, and apps like Harry Potter AR are starting to expand the interest of AR-based exploration.

Why Tours and Activities Market?

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With 80% of business from the tours and activities market currently conducted offline, there is massive potential to grow and corner the online sector. The tours and activities market is predicted to reach $183-billion by 2020, and continue expanding by 10% every year. Each sales partner gives us access to thousands of tour providers, museums and marketable activities that gives us revenue to grow and gives them bigger conversion on every booking on their website and on travel platforms

Our Business Model

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Our main revenue engine is a percentage of the booking fee. Every time a customer books a tour or activity through our platform, at an average of $100, 360 Stories receives 10-20% commission.

Another major revenue stream is the production of 360-degree videos and photos. Tour providers, museums and different attractions enlist our services to produce our proprietary 360-degree content of their products. This content is co-owned by us and used to sell those products. Through our partners we have access to 250,000 tour providers and attractions worldwide and our mission here is to convince everyone that 360 Stories is the best way to book tours and activities and that everyone should switch as soon as possible.

Competition

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Because of the varied nature of our business, our competition encompasses four main areas. These include 360-degree content creators like AirPano and YouVisit; travel content creators such as Meero; VR apps like Kayak-VR and Gala360; and in a way, we will also be competing with Google Maps, as they are working on similar 360-degree tech.

Unlike these competitors, however, 360 Stories offers the full package: 360-degree travel content in VR that offers users the opportunity to book travel experiences.

Traction

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Over the past fourteen months, we have scaled to 23 destinations, added 750 products, experienced a constant 100% user growth every month, and added twelve new channels in airports and hotels.

We are Part of a Big Family

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We are a portfolio company of the Vive X Accelerator and are partnered with HTC Vive X.

Traffic from All our Apps

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In the month of June 2019, we had over 2,000,000 visits within our apps, and over 58,000 views per day.

KPIs

110,000 Users
15 Employees
$94,000 Sales

Traction

  • Negotiating with a major Travel Media Portal to integrate our content on its website and mobile app

    July, 2019
  • Negotiating with a market-leading Asian airline to integrate our content with their Tours and Activities website and AR SDK into mobile app

    July, 2019
  • Total registered users hit 116,000

    July, 2019
  • Over 700 bookable experiences in 23 destinations

    June, 2019
  • Partnered with InFlight VR for in-flight VR integration with Iberia Airlines and Airports

    May, 2019
  • Total VR users reach 20,000

    April, 2019
  • 20 destinations and 500 products

    March, 2019
  • VR app launched on Oculus Rift

    February, 2019
  • Partnered with SkyLights for in-flight VR integration for AirFrance flights to Paris

    November, 2018
  • Entered HTC Vive X Accelerator Program

    November, 2018
  • 15 destinations and 300 products

    October, 2018
  • VR app launched on Vive and Vive Pro

    September, 2018
  • 10 destinations and 200 products

    July, 2018
  • First VR app launched on Oculus Go

    June, 2018
  • Web platform launch with 6 destinations and 100 products

    March, 2018

Testimonials

Alvin Graylin
Alvin Graylin
President of HTC China
"Travel is one of the biggest industries in the world, and one highly suited to utilizing VR. 360 Stories, with its dedicated team, has created a solution that helps to greatly reduce friction and improve decision making for this trillion-dollar industry. It's been a pleasure having them in the Vive X Accelerator program and I’m sure you’ll enjoy working with them as well."
Ming Chen
Ming Chen
KKday Founder
"360 Stories is proving to be an invaluable channel for selling tours and activities worldwide. "
Dre Orozco
Dre Orozco
VR Critic
"I would recommend 360 Stories as an app that you should check out, not only to explore the world, but it can even serve as a great research tool, especially if you're traveling to one of these places."
Lilit Hakhverdyan
Lilit Hakhverdyan
Tour Manager at Epic Armenia
"The team at 360 Stories is amazing! They were so helpful when co-producing a series of awesome clips presenting our tours and activities in 360 degrees. We have so many new customers this season who came to us through these videos from just seeing them in their hotel and at the airport!"
Lilly
Lilly
Oculus User
"My husband and I have been trying to decide where we should go on holiday next year, and it was really hard. Tripadvisor and all those sites just have fake photos, tons of rambling pointless reviews, and no real-world information. This app actually took us to our destination and helped us choose. We're off to Prague! Thanks guys"
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