There is an interview with Ray Nolan here.
Your company already has successful travel sites like Hostelworld.com. Why did you launch another in the form of Boo.com?
Hostelworld is a well-established brand with a niche of its own. The rationale of developing Boo was that for a lot of our customers, once they see out their hostelling days, we have nothing to offer them.
If they liked what they saw on Hostelworld they should like what they see on Boo.
What is Hostelworld’s global reach?
We probably have about 55,000 properties online. There was a very logical need for the existence of Hostelworld and I think we were lucky in that the web was so nascent at the time.
The per-transaction commission we make pales into insignificance compared to some of the hotel transactions that happen out there. We provide the property management system that makes sure that every bed is sold.