The year hasn’t closed yet and it’s already reached a record high for travel tech exit activity.
According to CB Insights data, there have been 18 travel tech exits globally so far in 2016, with 17 M&A transactions, and 1 IPO (Indian online travel services provider Yatra). That compares to 13 exits (including 1 IPO and 12 M&As) last year.
For background, travel tech startups raised $1B across 45 deals in Q3’16 through 9/21/16 — and with Q3 coming to a close, the industry is on track for an over 40% decrease in deals but more than a 70% increase in funding over last quarter. The funding boom is primarily due to Airbnb‘s $850M Series F round in August.
We define travel tech as tech-enabled companies offering services and products focused on tourism, including booking services, search and planning platforms, on-demand travel, and recommendation sites. Car-hailing services are excluded from this analysis. Only first exits are included.
Read original article