A US digital media company has acquired travel website and small group tour company Culture Trip for an undisclosed sum.
The deal with US News & World Report follows a management buyout of the London-based e-commerce company led by CEO Anna Jakimovska last July.
Culture Trip, founded in London in 2011, has raised more than £134 million from investors for its travel inspiration platform, which includes thousands of curated guides and more than 90,000 pieces of content.
The company attracts a “passionate and dedicated audience”, with millions of monthly users and more than three million app downloads,
The MBO in July 2023 led to a strategic review including a full sale of the company, which was confirmed overnight.
CultureTrip.com is the latest addition to US News' travel franchise, which includes ratings, trips and tips to help travelers decide where they want to go and choose how to get there, where to stay and things to do.
CultureTrip.com has been acquired by Culture Trip Travel UK, a travel-related holding company.
The website and insider-led small group trips will continue to operate under the Culture Trip brand. Terms of the acquisition were not disclosed by US News.
“As we continue to look for ways to help people make informed decisions, Culture Trip is a natural extension of U.S. News' travel business,” said Eric Gertler, president and CEO of the Washington, D.C.-based company.
“Consumers want information they can trust and resources they can rely on when planning a trip. This acquisition now empowers millions of travelers by giving them the tools they need to find the best value and experience.”
“Culture Trip’s mission is to connect people through destinations reviewed by experts globally and is considered one of the most ‘insider’ resources for travelers deciding where they want to have the best experience,” Jackimowska added.
“Plus, the ability to experience travel recommendations via our insider-led small group trips makes Culture Trip a one-stop travel platform.
“We are pleased with the expertise and resources US News is providing to help us accomplish this mission.”
Culture Trip joins a suite of services developed by US News for travelers, including global travel guides and cruise site GoToSea.
More than 50 million users visit travel.USNews.com each year to search for hotels, vacations, cruises, travel rewards, tours and attractions.
“This is a key strategic acquisition for US News,” said Neil Maheshwari, CFO and Chief Operating Officer, who led the acquisition.
“When combined with our travel vertical and our GoToSea cruise website, the potential of Culture Trip will be unleashed with the ultimate goal of better serving today’s global traveler.”
Culture Trip Travel UK was advised by Lazarus Consulting, a specialist in mergers and acquisitions.
