A US digital media firm has snapped up travel website and small group tour operator Culture Trip for an undisclosed sum.
The deal with US News & World Report comes after a management buy-out of the London-based e-commerce business led by chief executive Ana Jakimovska last July.
Culture Trip, founded in London in 2011, previously raised more than £134 million from investors for its travel inspiration platform, which has thousands of curated guides and more than 90,000 pieces of content.
The company attracts “a passionate and dedicated audience”, with millions of monthly users and more than three million app downloads,
The MBO in July 2023 led to a strategic review including a full sale of the business, which was confirmed overnight.
CultureTrip.com becomes the latest addition to US News’ travel franchise, which includes rankings, trips and advice to help travellers decide where they want to go, choose how to get there, where to stay and things to do.
CultureTrip.com was acquired from Culture Trip Travel UK, a travel-related holding company.
The website and small, insider-led group trips will continue to operate under the Culture Trip brand. Terms of the acquisition were not disclosed by US News.
Executive chairman and chief executive of the Washington DC-based company Eric Gertler said: “As we continue to find ways to help people make informed decisions, the Culture Trip website is a natural extension of our US News travel business.
“Consumers want information they can trust and resources they can rely on when planning a trip. This acquisition now empowers millions of travellers with the tools they need to find the best value and experience.”
Jakimovska added: “The Culture Trip mission is to connect people through expert reviewed destinations globally and is considered one of the most ‘insider’ resources for travellers deciding where they want to have the best experience.
“Adding to this, the ability to experience the travel recommendations via our small, insider-led group trips makes Culture Trip a holistic travel platform.
“We are thrilled about the expertise and resources US News brings in helping us fulfill this mission.”
The Culture Trip website joins a range of services developed by US News for travellers, including worldwide travel guides and cruise website GoToSea.
More than 50 million users visit travel.USNews.com each year to research hotels, holidays, cruises, travel rewards, tours and attractions.
Chief financial officer and chief operating officer Neil Maheshwari, who led the acquisition, said: “This is a core strategic acquisition for US News.
“When combined with our travel vertical and our GoToSea cruise website, Culture Trip’s potential will be unlocked with the ultimate goal of better serving today’s global traveller.”
Culture Trip Travel UK was advised by mergers and acquisitions specialist Lazarus Consulting.