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Travel Social Networks WAYN Gets $11 Million Funding

WAYN.com (short for Where Are You Now?), a UK-based social networking website aimed at travelers wanting to swap information on holiday destinations, has received $11 million in funding, including money from Brent Hoberman, co-founder of budget travel website Lastminute.com.
The round was led by Esprit Capital Partners, and other investor include Adrian Critchlow and Andy Phillipps, co-founders of Active Hotels; David Soskin, CEO, and Hugo Burge, Vice Chairman, of Cheapflights; and Constant Tedder, co-founder and Managing Director of Jagex, which runs RuneScape, the UK’s largest online multi-player game.
WAYN originally launched in 2002, and attracted a limited amount of interest. Since relaunching in March this year, it has steadily built its subscription database, claiming that 650,000 users registered last month alone. It now has a subscription base totaling 7 million across 220 countries, and claims to attract 35,000 new members every day.
The company said it planned to use the capital to fund new revenue streams, expand its international offices, improve its IT technology, develop a tailored trip planner and enhance its rich media content.
More details in the release here.

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