“We acquired Real Travel because their product vision and approach are similar to UpTake.com, they have a highly talented team and they have a global footprint covering more than 200 countries," said Yen Lee, President and Co-founder of UpTake.
Palo Alto, Calif. (PRWEB) November 4, 2010
UpTake Networks, Inc. announced today that it acquired Real Travel, Inc., a social hotel recommendation site. UpTake Networks, Inc. owns UpTake.com, a semantic search engine designed to help travelers research and decide where to go, where to stay and what to do. With the addition of Real Travel, UpTake Networks intends to accelerate their investment in the online travel research experience and drive more free, qualified leads back to travel sites.
“We acquired Real Travel because their product vision and approach are similar to UpTake.com, they have a highly talented team and they have a global footprint covering more than 200 countries," said Yen Lee, President and Co-founder of UpTake. “We intend to continue to operate RealTravel.com as an independent site and to give the Real Travel team the resources to accelerate their plans. Given UpTake’s strong organic growth, leadership team and finances, it makes sense for UpTake to make acquisitions, which is why we courted Real Travel.”
“We had a number of suitors and ultimately elected to join UpTake Networks for several reasons. First, UpTake’s vision to develop semantic technology that analyzes the wisdom of the crowd from across the internet to enable consumers to more easily research hotels and activities based on their trip type. Second, UpTake’s commitment to making sure their approach adds value to the travel industry by providing travel sites free branding and leads. Finally, UpTake is already the largest independent travel research site and is in an excellent financial position with proven and stable investors,” says Ken Leeder, CEO and Founder of Real Travel.
David Lytle, Editorial Director of Frommer’s Online, states, “Our relationship with UpTake.com has been beneficial to our online efforts. It extends our reach and drives incremental traffic. We look forward to working with Real Travel in the future when similar opportunities become available.”
UpTake has collected and organized more than 20 million traveler reviews, ratings, blogs and articles from 5,000 local, lifestyle and travel sources from across the web to help travelers make better decisions about where to stay, eat and play on their next North American trip. UpTake uses an ontology of travel-related terms and natural language analysis to extract over 40 million meta-tags from the collective intelligence it has collected and returns unbiased, personalized recommendations based on travelers' facts and feelings for many categories of content including hotels, motels, attractions, restaurants and nightlife for different trip types. For example, consumers can search for family activities or a romantic hotel in Monterey. The company is headquartered in Palo Alto and backed by Shasta Ventures and Trinity Ventures. Launched in May 2008, UpTake is already the largest independent travel research site and generated over 6 million free leads back to local, lifestyle and travel sources in the last year. Visit us at http://www.uptake.com.
About Real Travel
Named “Best of the Web” by Forbes, BusinessWeek and the Association of Travel Marketing Executives, Real Travel is a social hotel recommendation site that helps consumers plan trips with advice from other travelers. In 2009, Real Travel helped 15 million people plan trips with information on 200 countries, 27,000 destinations and more than 200,000 hotels. Visit us at http://realtravel.com.