Today TripAdvisor announced that it has acquired JetSetter, a company that provides a service by which members are alerted to and given special deals and access to getaways and vacations.
As BetaBeat reported today, Gilt Groupe attempted to sell the company for around $50 million in October of 2012. Given the interval between then and now, TNW would not be surprised if the total dollar amount involved with today’s deal was below that amount.
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JetSetter was not a company free of troubles. It fired its CEO last May, citing low morale. Gilt Groupe is a company of numerous lifestyle brands, catering towards the upper-end of the consumer markets.
According to TripAdvisor’s release on the matter, Jetsetter will “continue to operate out of New York City and will be incorporated into Smarter Travel Media.” Smarter Travel Media now owns both SniqueAway and JetSetter, brands that offer comparable services. If they were combined down the road, it would not surprise.
TripAdvisor stated baldly that “[t]erms of the acquisition will not be disclosed.” TNW has reached out for comment and clarification regarding the future independence of the Jetsetter brand.
Update: TripAdvisor has confirmed to TNW that “there are no plans to retire the Jetsetter brand following the acquisition.” The company states that “the Jetsetter team has built a great site with a loyal following that we value and plan to continue to let it operate independently.” It would not disclose the terms of the deal.
Top Image Credit: Mark Harkin