Travel guide and tour booking site TheCultureTrip.com has been acquired by media organization US News & World Report. Terms of the deal were not disclosed.
Culture Trip has had an interesting journey since its founding in 2011. In 2018, he announced $80 million in funding, but some are wondering if his travel content publisher is reinventing the wheel with the launch of an online booking service.
The funding was used to launch an online travel agency announced in mid-2019. Culture Trip has since evolved its e-commerce strategy, including adding multi-day tours in mid-2021.
The company announced in the middle of last year that it was exploring opportunities to sell or bring in new investors.
“As we continue to find ways to help people make informed decisions, the Culture Trip website is a new addition to our U.S. News Travel website,” said Eric Gertler, U.S. News Executive Chairman and CEO. “It’s a natural extension of our business. Consumers want information and resources they can trust.” You can rely on it when planning your trip. With this acquisition, millions of travelers now have the tools they need to find the best value and experience. ”
The website was acquired from holding company Culture Trip Travel UK, whose CEO Anna Jakimowska said: “Culture Trip’s mission is to connect people through expert-vetted destinations around the world. and is considered one of the most “insider” resources for travelers to make travel decisions. “This is where they want to have the best experience. This, plus the ability to experience travel recommendations through small group trips led by insiders, makes Culture Trip a comprehensive travel platform. We are excited about the expertise and resources that U.S. News will provide.”We are committed to this mission. ”
Jakimowska led the company’s management buyout before announcing it was considering a potential sale.
US News also owns the GoToSea cruise agency and travel guides around the world.
Source: Focus Wire