WeHostels sold to StudentUniverse in cash and shares deal

Mobile-based budget accommodation agency WeHostels has ended less than two years as a startup and will be joining StudentUniverse for an undisclosed fee.

The deal is said to be for cash and shares and comes 18 months after the company rebranded from its original Inbed.me to WeHostels.

CEO Diego Saez-Gil says the company will continue to operate its standalone brand but will also leading StudentUniverse’s mobile strategy going forward.

StudentUniverse currently has an iPhone application in the marketplace and has attracted $20 million in private funding to fuel its growth of building a company with headquarters in Boston, US, and offices in the UK, Philippines and Portugal.

Inbed.me had raised some $1.2 million within a few months of launching (TLabs here) from a large group of investors around the world including Ventech (Paris), Quotidian Ventures (US) and CAP Ventures (Argentina).

StudentUniverse CEO, Atle Skalleberg, says:

“We have been impressed with their agility and track record of innovation. The team will help drive our mobile strategy going forward. The new combined group of talented people will help accelerate the momentum and innovation of both our accommodation and mobile services.”

The acquisition follows a major piece of consolidation in the hostel and budget accommodation sector in April this year when HostelWorld bought arch rival HostelBookers for an undisclosed fee.

Share on FacebookTweet about this on TwitterShare on LinkedInEmail to someone
 
 
Kevin May

About the Writer :: Kevin May

Kevin May was a co-founder and member of the editorial team from September 2009 to June 2017.

 

Comments

  1. Matt Zito

    Congrats to StudentUniverse and WeHostels on this strategic acquisition. StudentUniverse can now put some marketing and distribution muscle behind this startup venture. Mobile is the future as we all know and the millennials are the strongest users of mobile. STA Travel you better get into the mobile game quickly…
    Matt Zito
    Founder, TravelStartups.co

     
  2. Alex Kremer

    Congrats Diego and Atle!

     
 
 

Newsletter Subscription

Please subscribe now to Tnooz’s FREE daily newsletter.

This lively package of news and information from Tnooz’s web site provides a convenient digest of what’s happening in technology that drives the global travel, tourism and hospitality market.

  • Cancel