Embark acquired by student experiences marketplace JusCollege
The cash and stock deal sees Embark CEO Allan Teruel become chief technology officer of JusCollege, with the remainder of the team also transferring to the new ownership.
Embark will not continue as a service, with JusCollege talking about the existing team in terms of its development skills and what it can add to the existing campus-focused business.
JusCollege was founded in 2010 and is profitable, CEO Andrew Citores, CEO of JusCollege says, already reaching over 21 college campuses.
The company is hoping to sell over 60,000 “experiences” to students by the end of the current school year in 2013.
One of the largest revenue areas of the business comes in the form of social groups such as “fraternities and sororities that have six-figure social budgets”.
“We aren’t a sales driven company. Our team is focused on giving the TLC that each of our customers deserves during this special time of their life.
This little bit of upfront work has kept our customer base coming back .Even after students graduate we help them with new travel experiences such as bachelor parties and work-related functions.
“The Embark team, technology and customer base will allow us to continue growing while maintaining a focus on the tender loving care as we have always done.”
Kevin May is a senior editor and one of the co-founders at Tnooz. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.
He has worked in regional newspapers (Essex Enquirer) and started his career in journalism at the Police Gazette at New Scotland Yard in London. He has a degree in criminology, a postgraduate diploma in magazine journalism and will be publishing his first book - a biography about electronic band, Depeche Mode - soon.