Some absorbing alliance accepted in the biking industry: Concur, the biking and amount belvedere that was acquired by SAP in 2014 for $8.3 billion, is today authoritative its own acquisition: it is affairs Hipmunk, the biking chase startup.
The companies are not advice the agreement of the accord but we are aggravating to acquisition out. Hipmunk had aloft about $55 actor back actuality founded in 2010, but its appraisal has never been sky-high. Some clues to the amount of this deal: Its aftermost appraisal as of 2014 (ahead of two small venture rounds) was about $96 million, according to PitchBook. We at TechCrunch had aftermost heard about April 2016 that it was aggravating to accession money, but in a down-round. In the event, Hipmunk picked up a baby $5.75 actor in adventure allotment that actual month.
Hipmunk will be chip into Concur’s belvedere (which currently has chase already, but as a Concur user, I can adjure to the actuality that it’s not that abundant and will be actual abundant bigger by abacus Hipmunk). Concur has acquired added startups to augment its functionality, including TripIt to clue and allotment your biking plans. It’s additionally invested in ClearTrip.
The accord for Hipmunk is accepted to aing in 2016. “We are aflame to acceptable Hipmunk, the addition baton in biking search, to the Concur and SAP family,” said Elena Donio, President of Concur, in a statement. “Concur has consistently strived to accommodate the best acquaintance for travelers on our belvedere and we’re assured Hipmunk will abide to contentment consumers while allegorical the addition calendar for our accumulated clients.”
The move is absorbing in ablaze of the actuality that Hipmunk’s co-founder and above CEO, Steve Huffman, has added afresh been dedicating a lot added of his time to account and accessible chat aggregator Reddit, an earlier startup that he founded, area he has alternate as CEO.
Hipmunk has carved a abode out for itself as a Kayak-style biking chase aperture with a addictive interface. But in a added trend of alliance about a few platforms — the actual acknowledged Kayak itself was acquired by Priceline in 2012 for $1.8 billion — it’s not a abruptness to see Hipmunk additionally accepting airtight up.
The startup was a trailblazer in actuality the aboriginal to enhance the cardinal factors that it acclimated to chase and array biking after-effects for users — capacity like auberge location, cardinal of stops in a journey, and so on — and some of that will be tailored to accurately baby to the business users that anatomy the amount of Concur’s chump base. But while some of those factors are now table stakes, Concur’s additionally accepting aptitude that will apparently accept the adeptness (and now the resources) to advance added new features.
“Six years ago, our eyes was to booty the affliction out of biking and biking planning,” said Adam Goldstein, co-founder and CEO of Hipmunk, in a statement. “This aggregate agency we can do an alike bigger job for common travelers, in both their leisure and business travel.”
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