FOR IMMEDIATE RELEASE
PRLog (Press Release) — Feb 03, 2011 — Catapult Advisors LLC announced today the sale of its client, EveryTrail®, a leading provider of mobile travel guides, to TripAdvisor®, the world’s largest travel site and an operating company of Expedia, Inc. (Nasdaq: EXPE).
The transaction was driven by a common belief by both EveryTrail and TripAdvisor management that travelers increasingly wish to consume and create travel information while on-the-go. According to Adam Medros, vice president of global product for TripAdvisor, “EveryTrail bolsters our continued commitment to grow TripAdvisor’s mobile offering, and enable travelers to access walking tours, city guides and hiking trails directly from their smartphones.”
Remarked EveryTrail CEO Joost Schreve, “Like TripAdvisor, EveryTrail is possible because of a global community of travelers who share their stories every day. The mobile platform that we provide lets travelers turn these stories into highly engaging mobile travel guides that help other travelers enjoy their trips even more.”
According to Schreve, “Catapult served as a trusted partner throughout the transaction. At every step of the process, they provided valuable advice and helped us navigate our way through some very important decisions. Our employees, investors and customers are thrilled with the outcome and we look forward to continued growth and innovation as part of TripAdvisor.”
The next generation EveryTrail iPhone and Android apps let users search, download, navigate and share trips while on the go. Users can explore hundreds of premium Guides and more than 500,000 user-generated trips from over 140 countries. At the same time, travelers can record and instantly share experiences on EveryTrail and other social sites, such as Twitter and Facebook. The company is headquartered in Palo Alto, California and is online at EveryTrail.com.
TripAdvisor® is the world’s largest travel site, enabling travelers to plan and have the perfect trip. TripAdvisor offers trusted advice from real travelers and a wide variety of travel choices and planning features (including Flights search, TripAdvisor Mobile and TripAdvisor Trip Friends) with seamless links to booking tools.
TripAdvisor-branded sites make up the largest travel community in the world, with more than 40 million unique monthly visitors, 20 million members, and over 40 million reviews and opinions. The sites operate in 27 countries worldwide, including China under daodao.com. TripAdvisor also operates TripAdvisor for Business, a dedicated division that provides the tourism industry access to TripAdvisor’s millions of monthly visitors. The division includes Business Listings, which allows hoteliers to connect directly to millions of researching travelers, and Vacation Rentals, which helps property managers and individual home owners list their properties and showcase hotel alternatives.
About Catapult Advisors LLC
Catapult Advisors is an investment bank and M&A advisory firm serving the software and internet sectors. Founded in 2001, the firm provides both sell-side and buy-side representation to privately-held companies, public companies, and several of the world’s leading private equity firms. Catapult has advised and guided software and internet companies in the United States, Canada, Europe, Asia Pacific, and Israel. For more information, visithttps://www.catapultadvisors.com/.
CONTACT: Ron Lissak of Catapult Advisors LLC, +1-415-593-4520