TripAdvisor has acquired Jetsetter, broadening its exposure to the flash-sales travel market.
Jetsetter, a subscriber-based site that lets its members bid on last-minute hotel rooms, was acquired from Gilt Groupe. Jetsetter was founded in 2009.
"With Jetsetter and our own SniqueAway brand, we now have two leading travel private-sale sites under one roof,” TripAdvisor CEO Steve Kaufer said in a statement. “We are excited by the opportunities this provides to continually help drive amazing value for our travelers staying at some of the world's most highly-rated hotels.”
Jetsetter founder and ex-CEO Drew Patterson stepped down last May because of what was reportedly low morale at the New York-based company.
TripAdvisor didn’t say what it paid for Jetsetter. Gilt Groupe was seeking as much as $50 million for the company when it put Jetsetter up for sale last fall, the Wall Street Journal reported, citing people familiar with the process.
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