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Tripology Shuts Down, Seeks New FinancingFebruary 3, 2010 By: George Dooley
Tripology, the lead generating company widely used by travel agents and suppliers, has announced that it has stopped accepting travel agent payment, terminated staff and is looking for a new investor.
In a brief statement online the company said, “agents may continue to buy leads using any existing paid and free credits they have on file with Tripology.”
John Peters, president and CEO of Tripology, confirmed the action to Travel Agent and said that he was aggressively seeking investors for the company.
Tripology’s statement in full:
Despite achieving one of our best revenue months in January of 2010 and enjoying months of unit-economic profitability, our newest investor, very late last week, indicated they intended not to continue to fund the company as agreed in December 2009 (as indicated in a press release on the company website on December 2, 2009.) Visit www.tripology.com/consumer/news for a listing of all our press releases.
As such, Tripology immediately stopped accepting travel agent payment for lead credits, terminated the Tripology staff and actively started looking for a new investor and/or strategic partner.
Tripology, a free service for consumers, has developed a community of over 13,800 travel specialists and has processed over 130,000 trip requests from online travelers since launch in 2007.
In the next few days, while the company looks to secure a new investor, agents may continue to buy leads using any existing paid and free credits they have on file with Tripology. Further announcements will be made as developments occur.