HOWZAT media invests in trivago, the German based travel website focused on hotels, reviews & community
London & Duesseldorf, 14 January 2008. Internet entrepreneurs David Soskin and Hugo Burge, the founders of HOWZAT media LLP, have completed HOWZAT's fourth dotcom investment. The fund has invested in trivago, a German based pan-European internet media company which was founded in mid-2005. It publishes travellers’ experiences as well as offering a unique and extensive hotel price search function. The website also provides a vast amount of unrivaled local and overseas travel information compiled from user generated content (UGC).
trivago has developed a 40,000 strong European-wide community which spends an average of 20,000 hours a month creating travel reports, guides, tips and reviews. Users also contribute photos of hotels, sightseeing attractions or beaches. The site currently stores 150,000 hotel reviews, 600,000 photos and information on 50,000 tourist attractions, generating 2.5 million visits and over 10 million page views a month. As well as peer-group reviews, trivago's bespoke hotel price search engine enables travellers to find ideal accommodation at the lowest available rate in 225,000 hotels worldwide.
Commenting on the new investment, David Soskin said: “We are delighted to make our first investment in Germany, Europe's largest internet market[1]. trivago competes successfully in a proven and high growth sector. HOWZAT media strongly believes in the excellence of trivago's product which offers consumers transparency on every aspect of hotel search, including reviews, photos, amenities, maps and, of course, price comparison. trivago meets the growing demand for independent travel information and reviews based on first-hand insider information as well as for a great hotel search function.”
Sascha Hausmann, the German based member of the HOWZAT media team, continued: “We are glad to be investing in trivago, whose successful track record and business concept are compelling. With HOWZAT’s focus on search and social networking, trivago fits perfectly within our preferred investment profile. Furthermore, and in contrast to many other early-stage online travel dotcoms, trivago is already cash-flow positive at the operational level. HOWZAT looks forward to working with trivago to build upon its success in the German and other international markets.”
Malte Siewert, co-founder and director of trivago commented: "We conceived trivago as a premier European online-service for travellers seeking destination advice and a place to share their travel experiences. HOWZAT's investment, and importantly their partners' internet expertise, will enable us to grow and internationalise our business even more rapidly. We are very pleased to have them backing us at this exciting stage in our history."
END
Contacts:
trivago GmbH
Malte Siewert
e-Mail: malte.siewert[@]trivago.com
Phone: +49 211 758486-93
Howzat media LLP www.howzatmedia.com
Hugo Burge
e-Mail: hugo [@] howzatmedia.com
Notes to Editors
HOWZAT media LLP is an internet investment fund with a difference. In January 2007 the successful internet entrepreneurs Hugo Burge and David Soskin led a small group of private investors in the formation of the fund. Apart from funding, investee companies will benefit from Hugo and David’s significant operational experience gained from building one of the UK's most successful, profitable, international and long-lived travel dotcom companies.
The fund has a clearly defined focus: to identify and invest in start-up and early-stage internet media companies which are re-inventing the way in which consumers access and use online information. It will seek out global opportunities in internet media, including, but not exclusively, in the travel sector. This investment profile reflects the successful business model previously developed by HOWZAT's founders. Hugo and David are using their unique experience to drive the success of HOWZAT and its underlying investments. HOWZAT has already invested in the increasingly successful international social networking site Where Are You Now (WAYN.com); the UK vertical property search site Zoomf.com and TrustedPlaces.com a social networking site providing UGC reviews by its members of restaurants, cafes, bars and other lifestyle venues.
trivago GmbH: The European internet business based in Düsseldorf, Germany, was founded in April 2005. trivago operates one of the largest user driven travel portals in Europe, issuing high quality travel information and ‘insider’ tips for perfect travel planning. It further combines a platform for travel tips, with a price comparison for hotels and package holidays, everytime finding the lowest price. Therefore, trivago is the starting point on the internet for many price-conscious travel enthusiasts. As well as the United Kingdom trivago represents Germany, Spain, France, Sweden, Poland and Italy. In the fourth quarter of 2007, trivago has attracted more than 2 million visitors per month throughout Europe through trivago’s Community tips and its price search.
Trivago’s European websites include:
Germany - http://www.trivago.de; Spain - http://www.trivago.es;
France - http://www.trivago.fr; Italy - http://www.trivago.it
UK - http://www.trivago.co.uk; Poland -http://www.trivago.pl
Sweden http://www.trivago.se
[1] Marketer: Aug. 2007 & Internet World Stats June 2007
HOWZAT media invests in trivago, the German based travel website focused on hotels, reviews & community
- 14/01/2008 01:33 pm
