TripAdvisor buys stake in FlipKey,

TripAdvisor has purchased a majority stake
in FlipKey, a leading vacation rental review
site. Terms of the investment will not be disclosed.

“Vacation rentals is the hot emerging category in travel and FlipKey
has a great foundation and a smart business approach,” said Steve Kaufer,
founder and CEO of TripAdvisor. “We believe we can help FlipKey become the
leader in the space and, in turn, FlipKey content will satisfy a growing
need for TripAdvisor users.”

  “TripAdvisor is ‘it’ in the world of user-generated travel reviews, so
we are thrilled to have the support of the TripAdvisor Media Network,” said
TJ Mahony, FlipKey founder and CEO. “We’re honored to have been chosen as
the vacation rental provider to the world’s largest travel community and
look forward to working with TripAdvisor to build our business.”

  Boston-based FlipKey.com launched in March 2008 and is led by TJ
Mahony, CEO, Jeremiah Gall, COO, and Carl Query, CTO. FlipKey features
50,000 vacation homes, representing all 50 U.S. states. In addition to
amassing vacation rental listings and consumer reviews of the featured
properties, FlipKey has an exclusive relationship with Instant Software,
the leading property management software company, to provide a guest review
platform for its clients. FlipKey content is expected to be integrated with
TripAdvisor.
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