Travel guide and tour booking site LeCultureTrip.com was acquired by the media organization US News & World Report. The terms of the contract are not disclosed.
Culture Trip has had an interesting journey since its founding in 2011. It announced $80 million in funding in 2018, with some wondering if travel content publishers were trying to reinvent the wheel with the launch of online booking services .
The funding was intended for the launch of an online travel agency, which was unveiled in mid-2019. Culture Trip then evolved its e-commerce strategy with the addition of multi-day tours in mid-2021.
Mid last year, the company announced it was exploring opportunities to sell or attract new investors.
Eric Gertler, executive chairman and CEO of US News, said: “As we continue to find ways to help people make informed decisions, the Culture Trip website is a natural extension of our US News Travel business. Consumers want information they can trust and resources they can trust. that you can count on when planning a trip. This acquisition now gives millions of travelers the tools they need to find the best value and experience.
The website was acquired from holding company Culture Trip Travel UK Ana Jakimovska, CEO of the holding company, said: “Culture Trip’s mission is to connect people through expert-reviewed destinations around the world. and is considered one of the most “internal” resources for travelers who decide to travel. where they want to have the best experience. On top of that, the ability to discover travel recommendations via our insider-led small group trips makes Culture Trip a holistic travel platform. We're excited about the expertise and resources that U.S. News brings to help us fulfill this mission.
Jakimovska had led a management buyout of the company before the announcement that it was exploring a potential sale.
US News also has the Go to the sea cruise agency and travel guides worldwide.
Source: PhocusWire
