TripAdvisor Picks Up Jetsetter from Gilt
No terms were given for the deal, but BetaBeat reported last fall that Gilt had been shopping Jetsetter for $30 million-$50 million. The sale to TripAdvisor was also telegraphed last month by this report on the travel news site Skift.
The companies officially announced the acquisition Tuesday afternoon. TripAdvisor says Jetsetter will continue to operate in New York, where it has been based as a part of Gilt.
The Jetsetter buy fits into the pattern of small acquisitions typically seen from TripAdvisor. In late March, it bought photo-sharing app Tiny Post. Other acquisitions in recent years have included mobile app maker EveryTrail, search startup Wanderfly, and social media developer Where I’ve Been.
All of these deals point toward the transition that TripAdvisor needs to make if it wants to stay relevant in the future of the digital travel business.
It’s one of the big names from the early waves of online travel innovation, now operating as an independent, public company valued at nearly $7 billion (NASDAQ: TRIP) after spinning out from Bellevue, WA-based Expedia in late 2011.
Gilt, meanwhile, is selling Jetsetter as it navigates more turmoil in its once high-flying “flash sales” empire—the company has a new CEO, Michelle Peluso, who replaced founder Kevin Ryan.