Abacus Updates

2015 Travel and Expense Data: How Tech Startups Use their Funding

Here at Abacus, we’re all about data. Whether it’s using it internally to optimize processes or helping our customers get better access to their travel and expense data to create more informative reports. With numbers on the brain, we took a look at the data that we’ve collected over the past year to see what we could learn from it. Analyzing a subset of our tech startup customers, we found some cool factoids that we wanted to share.

East Coast vs West Coast

Everyone is always comparing the east and west coast startup scenes, wondering if New York City is the next Silicon Valley. So we wanted to know – how different are they? Turns out they have a lot in common, but there are a few areas with some noticeable differences. One of the areas that came as no surprise was the size and valuation of the startups. It’s no secret that California is full of Unicorns, but it looks like New York is starting to build their own strong hold. As far as their expenses go, California also took the cake, outspending New York for T&E.

The Data

  • New Yorkers seemed to have a preference for Delta Airlines, while Californian’s were more open to who they flew with.
  • Californian’s also booked 27% more flights than New Yorkers.
  • However, New Yorkers seemed to travel a lot by train – spending 7 times the amount as California.
  • Californian’s seem to rely much heavier in online-giant Amazon for office purchases.
  • Not a surprise, California spends a lot more on parking and mileage than New York, where as New York edged out California for more Uber and taxi rides.

Check out our infographic below or visit our infographic web page.

 

Abacus-2015-Business-Expense-Infographic

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