Having celebrity names as investors often means little if the underlying business isn't sound, however trendy it may appear.
It certainly wasn’t peer — or even peer-to-peer — pressure.
Johannes Reck, GetYourGuide CEO, tells Skift that Gidsy’s website “will close down as of today and we will work on GetYourGuide,” integrating Gidsy’s activities in 40 countries.
From previous conversations with Skift, it is evident that Reck realizes there is no money in the peer-to-peer model.
“We will not enter P2P, but we will certainly take the overlap of exciting local activities and broaden our offering,” Reck says. “There is a natural overlap.”
Gidsy had raised $1.2 million in funding from the likes of Sunstone Capital, Index Ventures and individuals such as Werner Vogels, Christophe Maire and Ashton Kutcher.
It is likely significant the word “acquisition” isn’t used in the announcement and probably reflects the bargain-basement nature of the deal, although the terms were not disclosed.
Free Daily Newsletter
Sign up for the most popular Skift daily download of news, happening, and headlines in the travel world
Photo credit: Peer-to-peer tours marketplace Gidsy was acquired by a peer, fellow Berliner GetYourGuide. Gidsy