TheTrip.com Gets Financing from Hollinger Digital
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Antoine Toffa, president and CEO of the travel services company that received its initial financing from U S West, said: "With the addition of Hollinger Digital to our investor panel, TheTrip.com is expanding its reach in terms of business travel customers and its travel product offerings in both the U.S. and internationally."
Financial specifics of the deal were not disclosed. However, Hollinger Digital's president joined the board of TheTrip.com.
Potential synergies between TheTrip.com and Hollinger Digital include extensive international and online distribution, content sharing, sales capabilities, and experience in the electronic commerce marketplace, the companies said. For TheTrip.com, Hollinger Digital can provide opportunities to both distribute and furnish online content and to provide print and online advertising outlets and expertise.
"Hollinger Digital strategically identified TheTrip.com for its leadership in developing successful online commerce and community," said Matthew Doull, president and COO of Hollinger Digital. "We are extremely positive about investments in online transactional content ventures and TheTrip.com fits our profile perfectly."
TheTrip.com said Hollinger Digital's financial infusion will allow for extensive growth into areas that have yet gone untapped. "We have been very impressed with the entrepreneurial vision of TheTrip.com's leadership," said Doull. "This is a company that is breaking ground in new media while showing a history of robust growth. The future looks very bright for TheTrip.com and Hollinger Digital is pleased to be a part of that success story."
TheTrip.com is a travel planning and reservation service devoted to the business traveler, offering air, hotel and car reservations, city, airport, hotel and weather information.
Hollinger International is a newspaper company with worldwide daily combined circulation of 4.3 million.