Gogobot Announces $15 Million in Funding Led by Redpoint Ventures
SAN FRANCISCO, Nov. 3, 2011 /PRNewswire/ --Gogobot (www.Gogobot.com), the world's largest social travel site, announced today that it has completed a $15 million round of funding led by Redpoint Ventures, with participation from Battery Ventures and Michael Arrington 's CrunchFund. Gogobot will use this new financing to expand its global footprint through marketing, partnerships, and outreach.
Gogobot transforms how we explore new places and capture and share our travel experiences by allowing users to harness the power of their social networks to exchange trusted travel advice and share trip plans and rich visual travel memories.
Since launching last November users have shared more than 2MM places with their friends on Gogobot. Gogobot's user base has grown 10 fold over the last year, making it the largest social travel site on the internet. This funding comes on the heels of the launch of Gogobot's mobile app, available for the iPhone, iPad and iPod Touch, which is currently a Top 10 Travel App in 31 countries around the world.
"With its unique offering and seasoned management team, Gogobot is the industry leader in the social travel space. We believe with its vision and timely and unique service, Gogobot is poised for exceptional growth," said Satish Dharmaraj, general partner of Redpoint Ventures. Satish will be joining Gogobot's board of directors.
Gogobot users can browse reviews from friends as well as share their photos, reviews and other details about the places they stayed, dined, and traveled on the Gogobot site. Gogobot automatically packages these elements into magazine-style albums, allowing friends to experience your travels with you in real time, see a map of where you were when you caught that sunset, or even make a reservation at the hotel where you stayed.
"Travel is all about discovering new experiences and sharing them with your friends and family," said Travis Katz, Gogobot co-founder and CEO. "With this new funding, Gogobot aims to continue to grow and pave the way for a new era of travel – harnessing social media to provide users with trusted, insightful, and enriching reviews at the tip of your finger."
Gogobot.com, the world's largest social travel site, is writing a new chapter in online travel planning where friends, not strangers, are the key to creating extraordinary travel experiences. Launched in November 2010, Gogobot helps people tap into their personal networks via Facebook and Twitter to easily get and give travel reviews and advice and share all the aspects of their trips through stylized digital scrapbooks and interactive maps. Partnered with HomeAway, Expedia, Hotels.com, Kayak, Priceline, and others, Gogobot enable users to book their vacations directly from the site. Whether you are looking for Las Vegas hotel reviews, the top things to do in Paris or hotels in Silicon Valley, Gogobot provides personal advice for the traveler. Gogobot's mobile platform is on the App Store for iPhone, iPad and iPod Touch. Named one of TIME's 50 Best Websites of 2011, Gogobot users have shared more than 2 million places on the site. Gogobot is based in Menlo Park, California, and backed by Redpoint Ventures, Battery Ventures, Eric Schmidt 's Innovation Endeavors, with angel investment Oren Ze 'ev and Keith Rabois .
About Redpoint Ventures
Founded in 1999, Redpoint Ventures is a leading technology focused venture capital and growth equity investment firm with over $2.5B in capital under management. Redpoint focuses on investing globally in technology ventures across the internet, digital media, mobile, and enterprise sectors to accelerate growth and build industry defining companies. Its partners have been involved in 41 IPOs and 66 upside acquisitions. The firm is headquartered in Menlo Park, CA with offices in Los Angeles and Shanghai, China. For more information visit our website at http://www.redpoint.com.
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