Coupa Acquires Travel Price Optimization Leader Yapta
SAN MATEO, Calif., Jan. 7, 2020 /PRNewswire/ -- Coupa Software (NASDAQ: COUP), a leader in Business Spend Management (BSM), announced today that it has acquired travel price optimization leader Yapta. The acquisition enables Coupa to deliver more value across BSM by empowering companies to achieve greater savings in a significant spend category, Travel & Expense (T&E).
Based in Seattle and led by travel industry veterans, Yapta monitors airfare and hotel prices in real time and sends instant savings alerts when prices drop. Working with thousands of customers, including more than 100 of the Fortune 500, Yapta has helped companies save an average of 2-4% of their corporate travel budgets, resulting in more than $350 million of savings to date.
As an integral part of the Travel and Expense offering within the Coupa BSM Platform, Yapta offers price assurance capabilities that dynamically track prices on airline and hotel reservations and instantly rebooks them at the lowest available price, without impacting the traveler experience.
"Business travel, which accounts for more than $1 trillion of spend per year1, is often one of the spend areas within a business with the least visibility and control," said Rob Bernshteyn, chairman and CEO of Coupa. "Yapta offers greater transparency into travel spend, helping businesses get the most value from their travel planning. I am excited to welcome the Yapta team to Coupa and look forward to furthering our joint mission of empowering businesses with the visibility and control they need to spend smarter."
In 2019, Yapta was named for the third consecutive time to Deloitte's List of 500 Fastest Growing Technology Companies in North America, as well as Inc Magazine's List ofFastest Growing Private Companies in the U.S.
"Yapta was founded on the concept of enabling travelers to get the most value and savings out of their travel plans, and we're proud to have saved our corporate customers across the globe hundreds of millions of dollars," said James Filsinger, CEO of Yapta. "Joining the team at Coupa offered a logical next step for our company given Coupa's strong focus on delivering value across Business Spend Management. As an integral part of the Coupa BSM Platform, Yapta will have greater reach and scale across Coupa's growing customer base to deliver even greater value to businesses."
To learn more about the Coupa BSM Platform, which empowers the world's most successful organizations with the visibility and control they need to manage all their spend in one place, visit https://www.coupa.com/.
These forward-looking statements are subject to a number of risks, uncertainties and assumptions that may cause actual results to differ materially, including difficulties with the integration process or the realization of the benefits of the acquisition. These and other risks and uncertainties that could affect Coupa's future results are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in Coupa's most recently filed Form 10-K or 10-Q filed with the SEC, which is available at investors.coupa.com and on the SEC's website at www.sec.gov. Further information on potential risks that could affect actual results will be included in other filings Coupa makes with the SEC from time to time.
The forward-looking statements in this release reflect Coupa's expectations as of the date hereof. Coupa undertakes no obligation to update publicly any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations.
1 Global Business Travel Association, GBTA BTI™ Outlook – Annual Global Report & Forecast 2018 https://www.gbta.org/blog/gbta-forecasts-seven-percent-growth-in-global-business-travel-spend-potentially-signifying-end-to-era-of-uncertainty/
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SOURCE Coupa Software
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