TripAdvisor Acquires Jetsetter
After much speculation, travel reviews giant TripAdvisor announced yesterday that it had acquired Jetsetter, an invitation-only luxury vacation deals site previously part of the Gilt Groupe.
Details are scant, but a Wall Street Journal article last October revealed that Gilt Groupe was seeking $50 million for Jetsetter. Given the six months that have passed since then, business experts quoted by Upstart Business Journal’s Alex Dalenberg believe that TripAdvisor likely paid much less than that original asking price.
The deal brings two such members-based travel sites under TripAdvisor’s wing, as the reviews site also owns SniqueAway. The Next Web's Alex Wilhelm reports that there are no plans to merge the two sites, with Jetsetter’s operations remaining in New York City and SniqueAway's staying put at TripAdvisor's headquarters near Boston. As TripAdvisor CEO Steve Kaufer said in the release, "the Jetsetter team has built a great site with a loyal following that we value and plan to continue to let it operate independently."
Peter Schlesinger is an editorial intern at Travel + Leisure.