Travel site TheTrip.com said it has
received a multi-million dollar second round of financing from Hollinger Digital, the new media
management and investment arm of Hollinger International Inc.
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.