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The previously rumored price was $3 million, but TripAdvisor isn't talking now
Where I’ve Been, the site that lets users create maps and scrapbooks of their travel experiences to share on social media sites, has received quite a bit of attention since it was founded in 2007. The Chicago-based company was among the elite first batch of companies to receive funding from Lightbank, the fund that was started by early Groupon investors Bradley Keywell and Eric Lefkofsky. And now, Where I’ve Been has been acquired by TripAdvisor for an undisclosed amount.
Interestingly, the company was rumored to have been acquired by TripAdvisor back in 2007 for $3 million—a rumor that was later found to have been false, but sources noted that the two companies were in discussions over a possible acquisition, so TripAdvisor and Where I’ve Been have been working on the deal for several years now.
While the terms of the deal were not disclosed, TripAdvisor, which is soon to spin off of Expedia, emphasizes the fact that the deal “underscores TripAdvisor's continued focus and growth in social travel.”
Since Where I’ve Got got its start in 2007, over ten million Facebook users have downloaded its application to create detailed maps to show where they’ve lived, visited, and where they want to travel, to make their other Facebook friends feel provincial and uncultured. Users have thus far pinned off half a billion places using the Where I’ve Been. Additionally, members can upload stories and photos to document their travels and browse the Travel Guide and Travel Talks to ask and answer travel-related questions, like how to get from Sligo to Dublin, Ireland by train.
While the app once saw wild Facebook success, its popularity has fallen by the wayside in recent months. At its height, the app had some 1.6 million monthly active users, but that number has since dropped precipitously to 70,000.
Where I’ve Been has raised some $1.75 million in funding to date. Its most recent round was a $750K round led by Lightbank in April 2010, marking one of the first investments Lightbank made within weeks of its launch.
With 18 travel brands that draw 50 million unique monthly users, TripAdvisor boasts the title of the world’s largest travel site, according to comScore in May 2011. Other sites in the TripAdvisor Media Group include Airfarewatchdog.com, bookingbuddy.com, familyvacationcritic.com, everytrail.com, smartertravel.com, and more. The sites in the TripAdvisor Media Group are operating companies of Expedia, Inc. In 2010, the TripAdvisor Media Group generated $486 million in revenue.
As part of the agreement, the entire Where I’ve Been team, including the Product team, will join TripAdvisor.
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