HomeToGo, a vacation rental price-comparison startup, has acquired the assets of Tripping.com three years after entering the U.S. market. It has also raised an undisclosed, multi-million dollar venture capital investment.
Tripping had once been the largest player in vacation rental metasearch, but has become a shell of a company after it burned through millions of dollars in cash on TV advertising, which led to spectacular in-fighting between its founders and its board.
The companies didn’t disclose the terms of the transaction. However, one person close to Tripping and familiar with the deal said, “It wasn’t a good outcome for anyone on the Tripping side.”
Tripping had raised about $52 million to date. Its sale as a distressed asset is a sharp comedown from December 2016, when it announced a $35 million series C funding round.
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