Techcrunch covers more on Ray Nolan and the WRI (Hostelworld) sale:
- WRI selling price was "about $340 million"
- Ray Nolan "was able to bank about $100 million" over the past 10 years
- Hostelworld was nearly sold to Priceline or Expedia
- "Though he is involved in some way with about 10 tech start-ups, Nolan currently has four major interests: CloudSplit, Asavie.com, Worky.com, and RevaHealth.com."
Quotes:
[Ray Nolan is] disappointed the IPO never happened however, as he says WRI “would have been a great candidate. It has great demographics, 20 and 30 something travellers, and there’s a lot of possibility upselling to that demographic.”
He adds: “When I left (as CEO), we had a 65 per cent EBITDA margin.” He thinks it likely that WRI’s new owners will hang on to it until the market improves, and then take it public.
Full article here.
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