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)
"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.

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