Get that passport ready and dig out those travel bags. StudentUniverse announced Monday its decision to acquire travel startup WeHostels — an acquisition that will enable StudentUniverse to strengthen its mobile and accommodation services.
WeHostels is a mobile travel agency that allows users to book budget accommodation through its best-in-class mobile applications. StudentUniverse is a technology company that operates the largest online travel agency for students and youth travelers. Through a verification of student/age status, the company is able to offer its members access to exclusive deals and travel experiences.
WeHostels has proven itself as a happening company with the youth of today, and allows users to book accommodations in more than 800 cities, as well as discover concerts and festivals around the world. Entrepreneur Magazine deemed WeHostels one of the “100 Brilliant Companies of the Year” and PhoCusWright gave them the title “Most Innovative Travel Startup of the Year.”
With just eight team members headquartered in New York City, WeHostels has raised $1.2 million in investments from Ventech Capital, Quotidian Ventures, CAP Ventures and TA Venture, among others. If you’re an Apple fan, WeHostels offers apps for the iPhone and iPad. If you’re not an Apple fan, there are also apps available for Androids and tablets. These apps have been used more than one million times and service is available in seven languages.
StudentUniverse and WeHostels have the right idea getting into the youth travel market, which makes up for more than 220 million arrivals a year, according to StudentUniverse CEO Atle Skalleberg. By 2020, it is expected to become a $320 billion market. That said, travel could be a place to start if you’re looking to open your own business.
“We are excited and honored to bring WeHostels’ incredible people and technologies into our organization,” said Skalleberg in a statement. “We have been impressed with their agility and track record of innovation. The team will help drive our mobile strategy going forward.”
Part of StudentUniverse’s success comes from partnerships with more than 65 airlines worldwide, allowing millions of students to use the service each year. To keep up with student demand, the company has increased by 65 percent in 2013 based on year-over-year growth.
So, the next time you want to book a little time in the sun, consider using StudentUniverse as your guide. With WeHostels, it is even faster and easier than before.
Featured Image via Blog.Travefy.com.
