Travel search engine Bezurk.com has received investment from and sold a minority stake to News Digital Media, the digital media arm of Australia-based News Limited. (1/15/2008)
Financial details weren´t disclosed.
Headquartered in Singapore, the comparison-shopping website stated that investment comes at a stage when the Asia Pacific online travel market is estimated to currently be worth more than US$25 billion. The travel search engine empowers travellers based in Australia, New Zealand, Singapore, Malaysia and Thailand to search real-time price and availability information from more than 80 partner travel websites in one go. Bezurk.com´s revenue model is based on "Pay Per Click" and other performance-based commercial agreements.
"To have the backing of such a major player is recognition of our success to date and will accelerate our product development and international expansion plans," said Bezurk´s CEO Martin Symes. "Our position in the Asia Pacific region will be further strengthened through the vast promotion, business development and integration opportunities available to us through News´ investment."
Founded in 2005, Bezurk.com employees more than 20 staff and will continue to operate separately to News Digital Media, which will be represented on the Bezurk board.
In a separate transaction concurrent with the News Digital Media investment, Singapore-based firm OWW Capital Partners also acquired a stake in Bezurk and will also be represented on the Bezurk board.
