"Hostelworld was the cash cow for WRI, bringing in €18.3 million profit on revenue of €38 million from €350 million worth of transactions last year"No wonder that Nolan's co-founder Fergal Mooney looked happy at PhoCusWright last week.
Tuesday, November 24, 2009
WRI sold for $340mm, Nolan banks $100mm - TechCrunch
Thanks to Josh over at hostelmanagement for pointing me to the TechCrunch article confirming the terms of the WRI sale to Hellman and Friedman for $340mm netting boss Ray Nolan some $100. More at the post titled "Boo.com owner made $100m – but not from Boo". My original post on the sale plan is here. Latest financials for the business were (according to TechCrunch)