LONDON and LOS ANGELES, and TORONTO, Dec. 10, 2018 /PRNewswire/ -- Verve, one of the most ubiquitous brands in word-of-mouth selling, today announced the acquisition of Campus Vacations. Campus Vacations is an industry leader in providing unforgettable experiences to students across North America. The acquisition increases Verve's market share and competitive positioning in the Northeast and Canada, provides the company with an entrance into the ski market, and expands its offering into key destinations like Punta Cana and Cancun. The transaction, valued at an aggregate $7 million, is a combination of cash, shares and incentives over time.
Verve is a platform that enables people to sell experiences to their friends in exchange for rewards, like tickets, trips and backstage passes. Verve has more than 25,000 active ambassadors and is the global market leader in word-of-mouth sales for live entertainment and travel experiences. The company works with over 500 music, travel, hotel and sports brands across North America and Europe. Verve also has global partnerships with ticketing companies including Ticketmaster, Eventbrite, Paylogic and Front Gate Tickets.
Members of the Campus Vacations team, including co-founder Justin Van Camp, will join Verve bringing with him over 15 years of expertise. Co-founders Alex Handa and Eugene Winer will also join Verve as key advisors. With the addition of the Campus Vacations team, Verve now has over 200 employees globally.
"Following the success of acquiring collegiate travel company JusCollege, and the resulting organic growth, we are continuing our aggressive expansion," say the Negus-Fancey brothers who founded Verve. "Campus Vacations gives us access to incredible destinations, increases our East Coast presence, delivers us a beachhead into ski, and brings us an incredible team. Not only have they built a fast-growing company that sells high-quality student travel packages, but like us, they understand the unique power and opportunity of harnessing the power of enthusiasts to elevate experiences for them and their friends."
"Joining Verve is very exciting for the future of Campus Vacations," said Justin Van Camp, co-founder, Campus Vacations. "With the support of Verve, we can enhance our experiences, grow our network of ambassadors and travelers, and offer them new opportunities. Campus Vacations has had an amazing journey so far and this is a big win for our team and travellers. We are grateful for this opportunity and excited about what we can achieve together."
Founded in 2014, Verve is the global market leader in word-of-mouth sales in the live entertainment and travel industry. We use networks of advocates to sell products and experiences to their friends in exchange for rewards such as free trips, backstage passes and VIP experiences. Our technology powers over 500 music, travel, hotel and sports brands in 40 countries with more than 25,000 active advocates, and we have partnerships with the world's leading ticketing companies.