Gilt sells Jetsetter to TripAdvisor
April 10, 2013 04:22 PM
Online travel retailer TripAdvisor Inc. has bought Jetsetter, a members-only web site for high-end travel that was owned by Gilt Groupe Inc., No. 49 in the Internet Retailer Top 500 Guide. Terms were not disclosed.
The property will be incorporated into TripAdvisor’s Smarter Travel Media brand and continue to operate out of New York City.
“With Jetsetter and our own SniqueAway brand, we now have two leading travel private sale sites under one roof,” says Steve Kaufer, co-founder and CEO of TripAdvisor. “We are excited by the opportunities this provides to continually help drive amazing value for our travelers staying at some of the world's most highly rated hotels.”
A Gilt spokeswoman says the e-retailer put Jetsetter up for sale last year, but she declines to confirm reports that the offering was tied to an initial public offering for Gilt expected in 2013.
More than a year ago, Gilt laid off 10% of its workforce.
In related news, Brian Dhatt, Jetsetter’s vice president of engineering, has become the chief technology officer at Borderfree, the international e-commerce services firm once known as FiftyOne Global Ecommerce.