TripAdvisor has become the home of choice for failing travel startups, and now we have another almost dead startup ending up there. The reviews giant has acquired Oyster.com, a hotel review website site featuring expert reviews and photos covering about 150 cities. Oyster will continue to operate out of New York City and will be incorporated into Smarter Travel Media.
Terms were not disclosed, but it is likely pennies on the dollar, if not less. Not much is left of Oyster — funded with more than $18 million by backers such as Bain and the Travel Channel – after most of the staff got fired earlier this year and its assets were put up for sale. We first broke the story about Oyster putting itself up for sale in June this year.
More About TripAdvisor and Oyster
- Heavily funded hotel review site Oyster puts itself up for sale
- Oyster hotel review site fires staff and hopes for asset sale
- TripAdvisor on Buying Travel Startups: “We Will Continue to Be Acquisitive”
- TripAdvisor’s Curious Strategy of Buying Smaller Startups