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World Reservations International has been solde for $340 million

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Published on 02/12/09 - Updated on 17/03/22

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Parent company to booking site Hostelworld.com and travel site Boo.com, WRI was initially ready to go public through an IPO in 2008. “We were trying to push it out to a $600-700 million market cap. That’s a big IPO. It was so big that the market only had to cough, and we knew the IPO was off,” explained former CEO Ray Nolan. He stepped down as WRI chief executive and became a non-executive director with 25% of the shares. Finally, the company was picked up by private equity firm Hellman and Friedman, for about $340 million to the surprise of many who assumed a travel giant such as Expedia or Priceline would make the acquisition.

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