The Situation

  • Engaged with TripAdvisor to deliver the Viator IPO / Carve-Out and outsourcing of product design, architecture and development to reduce product development and architectural costs.
  • Built the business case and benefit realisation caseĀ 
  • Reduced the overheads by transitioning the service offering and product to an outsourced shared services saving $25m (over 5-years) justifying the IPO criteria.
  • Defined and enhanced the best-of-breeds architectural solutions into the cloud (AWS), modernising and optimising the tech debt and delivering a saving of over $2m per annum with Business and IT Transformation
  • Developed and designed a new Target Operating Model through Organisational Change Management for the new Viator organisation.
  • Outlined and implemented an IT strategy transitioning to an outsourced offshore model.

 

The Task

Tasks included

  • Engaging with TripAdvisor (Parent company) to deliver the Viator IPO / Carve-Out and outsourcing of product design, architecture and development to reduce product development and architectural costs.
  • Built the Business Case and Benefit Realisation case
  • Reduced the overheads – by transitioning the service offering and product to an outsourced shared services saving $25m (over 5-years) justifying the IPO criteria.
  • Defined and enhanced the best-of-breeds architectural solutions into the cloud (AWS), modernising and optimising the tech debt and delivering a saving of over $2m per annum with Business and IT Transformation
  • Developed and designed a new Target Operating Model through Organisational Change Management for the new Viator organisation.
  • Outlined and implemented an IT strategy transitioning to an outsourced offshore model.

 

 

 

The Action / Approach

 

Conducted Due Diligence – I was responsible forĀ  conducting a thorough due diligence process to ensure that all relevant information about the company was accurate and complete. This includes reviewing financial statements, legal and regulatory compliance, and other key business-related information.

Prepared the Prospectus: I delivered a detailed document that provides information about the company, its business, its financials, and the terms of the offering.

Agreed an Offering Price: With the above prospectus, I could work with TripAdvisor and Viator leaders (and its investmentor) what the offering price for the shares being sold (This was based on the company’s financial performance, industry trends, and investor demands).

Marketed the Offering: I worked with TripAdvisor / Viator to determine Viator’s and its investment bankers to market the offering to potential investors, including institutional investors and retail investors.

Conduct the Offering: Once the offering was agreed (and signed off) Viator shares were sold to investors.

Maintain Compliance: Once the IPO is complete, the company must maintain compliance with regulatory requirements, including regular financial reporting and disclosures, and adhere to stock exchange rules and regulations.

Recruited senior executives – created JDs and screened candidates for the CFO and CTO role

The Result

Company was set up and the IPO was successful

Saving recognised, ROI and benefits realisation complete and justifir=ed (signed off

Outsourced the product management, Architecture and Testing to an offshore organisation saving $26m over 5 years

Reduced on shore numerus from 200 to just over 30 people having outsourced all Engineer skills

 

Relevant Business Perspectives

Relevant Industries

Practice