Tuesday, January 27, 2009
Groople Acquired By Travel Firm
Centennial, Colorado-based Groople, the group travel arrangement site funded by Arrowpath Venture Capital, Fatty Tuna, Flywheel Ventures, and Vista Ventures, has quietly been sold to Short's Travel Management. The sale was first reported by travel newsletter The Beat. Financial terms of the sale were not disclosed. According to The Beat, quoting Groople CEO Mike Stacy, the sale occurred when one of its investors "basically shut their doors" and a financing round fell through. Groople had raised around $20M in funding since its founding in 2003.