At the end of 2013, TA Ventures exited from WeHostels (mobile app for booking budget travels). TA Ventures invested in the company in March of 2012.
WeHostels was acquired by StudentUniverse (world’s largest online travel agency for students and youth which provides exclusive travel deals for their users, including flights, tours, rails and hotels). This year StudentUniverse served eight million students. The sum of the agreement is not disclosed.“WeHostels will not only continue to exist but it will actually be empowered and its growth will be accelerated. We will continue making our apps better, we will be launching more really cool mobile products”, says WeHostels founder Diego Saez-Gil.
WeHostels (former InBedMe) is a New-York based startup with founders originated from South America. The company had raised $1.2 million in seed backing in March 2012 from Ventech, Quotidian venturess, CAP venturess, and TA Ventures.
“This is our first exit since TA Ventures was founded 3 years ago, and we are excited about its success,- says Viktoriya Tigipko, TA Ventures managing director. - Within quite a short period we got a really good ROI. This means that we were right choosing the team and their product. This is another confirmation that the future of Internet lies in mobile devices and mobile apps”.
WeHostels’ iOS and Android apps offer social media-enabled hostel booking for backpackers, available in seven languages and in 800 cities. The company had 200,000 monthly active users, boasting 80,000 hostels and hotels available for booking. WeHostels won PhoCusWright’s “Most Innovative Travel Startup of the Year” award last year. In 2013, the company experienced 800 percent year-over-year growth in bookings.