$3.3 Billion travel tech & internet spending binge. Sunday, 20th April 2014 Source : Martin Kelly
SilverRail has become the latest beneficiary of the travel tech spending binge, picking up a further USD40 million from its latest capital raising. This means that since late December, when Amadeus bought Newmarket International for USD500 million, investors have splurged at least $3.3 billion on travel technology or internet companies. The list includes: SilverRail raises USD40 million to expand (April) Alibaba, the Chinese internet juggernaut, spends USD1.2 billion to buy 100% of mapping and navigation company AutoNavi (April) Hotel tech outfit DerbySoft gets USD9 million to fund growth (April) Amadeus pays €46 million (USD63m) for 68.5% of German corporate travel tech company i:FAO (April) GrabTaxi, an app, said to have raised USD10 million (April) Carrot, a Mexican car sharing site, wangles USD2 million from investors (April) Genstar more than trebled its investment in TravelClick, selling the hospitality software and services firm for USD930m to another private equity company, Thoma Bravo (March) Full story
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