Travel Site Away.com Buys Rival GORP
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By @NY Staff
The deal helps ensure the survival of both recreation travel companies as major online travel players consolidate and small start-ups weather the dot-com shakeout. Financial terms of the acquisition were not disclosed.
The Washington, D.C.-based Away.com said as a result of the merger, and its combined network of 2 million registered users and 12 million monthly page views, it would reach profitability by the end of the second quarter.
Word that GORP was looking for a buyer started circulating around Silicon Alley last fall after it laid off some travel writers in the editorial ranks and managed to secure a $2.3 million round of funding to continue operations.
Away.com has alliances with major online travel players such as Orbitz and Travelocity. The GORP acquisition would net Away.com the popular GORPtravel.com section, which built an e-commerce component into its offerings by helping users plan travel outings, including dude ranch packages, golf trips, spa getaways and weekend adventures.