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TA Venture makes first exit

0 8 December 2013

The fund 'TA Venture' has completed its first exit from American firm WeHostels. Together with Ventech, Quotidian Ventures and Cap Venture, the fund helped invest $1.2 million at the project's seed stage in March 2012.

WeHostels is a booking service for travellers on a budget, its application for iOS and Android is used in 7 languages and 800 cities worldwide. At the moment, the service boasts around 200,000 active users and a database of 80,000 hotels and hostels. Last year, analytics firm PhoCusWright named WeHostels the most innovative travel startup of the year and in 2013 the project saw an impressive growth of 800% in annual bookings.

WeHostels has recently been bought out by the company StudentUniverse (a site which organises package holidays for young people), though the price of said deal remains undisclosed. StudentUniverse has been used by around 8 million clients this year alone.

Victoria Tigipko, managing director of TA Venture:

"This is our first exit in 3 years of practise and we are very glad that it has turned out so favourably. In a short amount of time we have not only received back the money we invested, but have also had a good return on the investment. We've not made any mistakes within the project team nor in choosing the right product. It just goes to show that the future of the internet lies within mobile devices, and that the overall purpose of mobile applications will evolve with it."

TA Venture invests in the seeding and early stages of internet projects all over the world with an initial capital fund of $50 million. The company makes sure to take advantage of cooperative investment with major international venture funds.

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