TripAdvisor Acquires Citymaps To Further Boost Its Tours And Activities Platform
Even though it currently seems to be struggling under the burden of its investments, TripAdvisor – the world’s largest travel review website – had recently acquired New York-based Citymaps, a map-based guide for things to do in a city. The company had been founded in 2010 and has so far raised $12 million from investors.
TripAdvisor had boosted its tours and attraction offerings after forming Marketplace with the help of its 2014 acquisition, Viator. Citymaps might further help with the growth of Marketplace. The company believes that attractions can be its next billion dollar revenue generating segment. The market is in a fragmented state and it provides for an $80 billion market potential in the U.S. and the U.K. alone. After the launch of Marketplace in 2015, Viator’s bookable properties had almost tripled from 11,000 to 32,000 in Q4 2015.
We currently expect TripAdvisor’s Subscription and Other business’s revenue (which is comprised of attraction, restaurant, and vacation rental bookings) to grow for the next five years at a CAGR of ~8% and the segment’s EBITDA to grow at a CAGR of almost 10%.
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Have more questions about TripAdvisor? See the links below.
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- How Is TripAdvisor’s Top Line Trending?
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