Upside, Business Travel Startup to raise $100 Million in new fund

Published on : Monday, July 10, 2017

jayUpside, NewYork based business travel startup founded by Priceline Founder Jay Walker is raising as much as $100 million in the new funding which aims to offer alternative for smaller companies buying travel.
The round was led by Private-equity firm Vista equity Partners management and the valuation was pegged at $600 million however there were skepticism about the accuracy of the value.

 
Red ventures and investment firm Leucadia National took part in the earlier round, Upside being a year old company raised $50 billion in venture funding in prior rounds.

 

3.7 million shares were sold by Walker innovation, a consultancy founded by Jay Walker in Upside at a value of $7.6 million.

 
As per reports the company intends to buy 11 percent of Upside and it was found that the valuation placed on Upside was about $217 million at that time.

 

Upside basically serves in travellers get gift cards while buying travel packages and agencies save money on their travel spend. It also provides retail discounts and hotel packages in all major US airlines.

Walker commented during the launch of Upside that it will directly help the unmanaged business traveller.

 

Though launched earlier this January it has captured the imagination of the investors, it has been widely advertising in radio,podcasts giving tough competition to Priceline Group and Expedia Inc.
Inventory negotiations may be difficult and early gains will be limited. The US market size for unmanaged business travel spend to be $165 billion.

Related Posts

Tags: ,

Leave a Reply

Your email address will not be published. Required fields are marked *

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 14 Hotelierseries Africa 2019
  • 14 restaurantscafeslounges 19
  • 16 global-hotels-resorts 2019
  • 19 uzakrota London 2019
  • 20 sahic 2019
  • 20 seatradecruis 2019
  • 20 uzakrota Istanbul 2019
  • 21 TheHotelShowSaudiArabia 2019
  • 22 Africa Hotel Investment Forum 2019
  • 22 DRT SHOW India 2019
  • 22 iitm 2020
  • 22 summitasia 2019
  • 22 TTME 2019
  • 23 PTM 2019
  • 30 PATA

TRAVEL INDUSTRY EVENTS

    1. SAHIC

      September 16 - September 17
    2. THE HOTEL SHOW DUBAI

      September 17 - September 19
    3. THE LEISURE SHOW

      September 17 - September 19
    4. TAAPE

      September 19 - September 21
    5. IITM Delhi

      September 20 - September 22
Get our toolbar!
Review www.travelandtourworld.com on alexa.com