Blog Post

Travel Network WAYN Appoints Bank To Seek Sale: Report

Social travel network Where Are You Now (WAYN) has now appointed investment bank Lazard to advise on a sale after several apparent approaches, reports. Originally launched in 2002 by friends Pete Ward and Jerome Touz (pictured) following a round-the-world trip, the site raised $11 million first-round funding from parties including co-founder Brent Hoberman and claims over 10 million members. It helps travelers document their trips and stay in contact with friends along the way.

Back in January, when rumours of an imminent AOL (NYSE: TWX) acquisition surfaced, WAYN said it “has, at no point, had discussions with AOL and are not currently looking for a strategic sale”. While the sale part has now changed, if the report is to be believed, it’s not clear if AOL would stump up more cash for another British social start-up following its $850 million acquisition of AOL last week. The paper said WAYN had received “several takeover approaches”.