This just in – Internet marketer and entrepreneur Randolf Jorberg just blogged the news that eTRAVELi has acquired Cape Town based Travelstart’s Nordic operations ““ this adds just another success story to serial entrepreneur Stephan Ekberghs list of achievements. Travelstart is a South African company and generated sales of approximately ZAR 1.5 billion during 2009. eTRAVELi and Travelstart combined produce a monster booking engine with expected revenues of 5 billion (Rand and Swedish kronor are nearly on par) in 2010. The report does not state the acquisition price, we are waiting for a reply from Stephan with further details.
Reportedly brokering 50,000 bookings a month on the Travelstart SA platform, Travelstart is a travel giant in the e-commerce market of South Africa and I do seriously hope that this is not the last positive news we hear from this travel powerhouse, operating from Cape Town. Update from Stephan –
Just to clear some basic facts:
The Deal covers our european business and our brand in Europe.
We will still continue to do business outside of EU with our new global HQ in Cape Town.
Our main efforts will be directed towards continental Africa for a while as well as launching a global kick ass mobile app.
Our ZA business is doing very well and we expect to break the 1 billion zar mark in 2011.
Come by and see us at 56 Shortmarket.
I have written some personal reflections on the sale on my blog: http://ekbergh.blogspot.com/2010/01/when-to-let-go-2930-decade-with.html