Gogobot Raises $20 Million to Fund Global Expansion

MENLO PARK, Calif., Nov. 12, 2014 /PRNewswire/ -- Gogobot (www.gogobot.com) , the go-to-place for places to go, announced today that it has secured $20 million in Series C financing. The round was led by HomeAway (Nasdaq: AWAY), the world's largest online marketplace for the vacation rental industry, with participation from Gogobot's existing investors, Redpoint Ventures and Battery Ventures. HomeAway CEO Brian Sharples will join Gogobot's board of directors.

Gogobot will use the additional funds to continue investing in growth in its core business, as well as expand internationally.

With mobile as the catalyst, Gogobot has seen strong adoption, with more than 16 million people using the service in the last year to find trusted advice on where to go and what to do in more than 60,000 destinations worldwide. Gogobot launched in 2010 as a new way for people to discover the best places to stay, eat or play, allowing users to tap into networks of like-minded people, whether friends or members of Gogobot travel communities known as Tribes.

"Mobile is changing the way people travel, and Gogobot is a leader of this change, designing an intuitive product that makes local discovery easy and personal," said Brian Sharples, HomeAway CEO. "This investment will enable Gogobot to continue to innovate and extend their leadership position."

Gogobot and HomeAway also announced a business partnership that would include the integration of Gogobot's content into HomeAway's mobile application, the launch of Gogobot services across HomeAway's international sites as part of Gogobot's international expansion, and collaboration on advertising sales.

"Gogobot's mission is to make every day an adventure, inspiring people to explore the world and find places they'll love" said Gogobot CEO Travis Katz.  "HomeAway's experience in building a brand that touches 65 million travelers a month is invaluable, and we are thrilled to have them as investors as we continue to grow the business and build out our vision."

The funding comes toward the end of a watershed year for the company when it launched Tribes – which gives travelers the ability to tap into content and reviews from 19 different communities that share specific tastes and interests (e.g. foodies, families, LGBT). Gogobot also launched a metasearch platform for hotel booking that displays the best prices from across the web; released critically acclaimed mobile apps for iPhone and Android; and most recently unveiled GoGo This Week, which provides users with recommendations of the best local events in their hometown, based on their Tribes. 

The company also announced today that it has expanded Gogo This Week from five to 11 cities, adding Seattle, Austin, Chicago, Phoenix and Boston. 

About Gogobot

Gogobot is the go-to place for places to go, providing the inside scoop on where to eat, play and sleep for any adventure. Gogobot Tribes save you time by recommending where to go based on your personality profile. Whether you are out on the town for a night of fun, or on a trip that's strictly business, Gogobot makes it easy to discover unique, authentic experiences. The world leader in personalized local discovery, Gogobot is one of largest providers of travel reviews online. Gogobot has more than 775,000 reviews, 4 million photos, and 60,000 city guides and can save you 25 percent or more on accommodations.

Gogobot was founded in 2010 by Travis Katz and Ori Zaltzman in Menlo Park, California. The company's investors include HomeAway, Battery Ventures, Redpoint Ventures, Google's Eric Schmidt, Keith Rabois, TechCrunch Founder Michael Arrington, MySpace Founder Chris DeWolfe and Oren Ze'ev.

About HomeAway

HomeAway, Inc. based in Austin, Texas, is the world's leading online marketplace for the vacation rental industry, with sites representing approximately one million paid listings of vacation rental homes in 190 countries. Through HomeAway, owners and property managers offer an extensive selection of vacation homes that provide travelers with memorable experiences and benefits, including more room to relax and added privacy, for less than the cost of traditional hotel accommodations. The company also makes it easy for vacation rental owners and property managers to advertise their properties and manage bookings online. The HomeAway portfolio includes the leading vacation rental websites HomeAway.com, VRBO.com and VacationRentals.com in the United States; HomeAway.co.uk and OwnersDirect.co.uk in the United Kingdom; HomeAway.de in Germany; Abritel.fr and Homelidays.com in France; HomeAway.es and Toprural.es in Spain; AlugueTemporada.com.br in Brazil; HomeAway.com.au in Australia; and Bookabach.co.nz in New Zealand. Asia Pacific short-term rental site, travelmob.com, is also owned by HomeAway.

Media Contact
Mark de la Vina
Consort Partners
Email: [email protected]
Phone: +1 415-282-4795

SOURCE Gogobot

Related Links

http://www.gogobot.com