WeHostels sold to StudentUniverse in cash and shares deal
Mobile-based budget accommodation agency WeHostels has ended less than two years as a startup and will be joining StudentUniverse for an undisclosed fee.
The deal is said to be for cash and shares and comes 18 months after the company rebranded from its original Inbed.me to WeHostels.
CEO Diego Saez-Gil says the company will continue to operate its standalone brand but will also leading StudentUniverse’s mobile strategy going forward.
StudentUniverse currently has an iPhone application in the marketplace and has attracted $20 million in private funding to fuel its growth of building a company with headquarters in Boston, US, and offices in the UK, Philippines and Portugal.