Hoberman and Soskin invest in Where Are You Now?

Online travel and lifestyle social network Where Are You Now? has attracted a syndicate of investors including lastminute.com co-founder Brent Hoberman and Cheapflights CEO David Soskin

WAYN has raised $11 million in funding from investors led by Esprit Capital Partners.

Besides Hoberman and Soskin, other investors include Adrian Critchlow and Andy Phillipps, co-founders of Active Hotels, sold to Priceline in 2004; Hugo Burge, vice-chairman of Cheapflights; and Constant Tedder, managing director of Jagex, which runs RuneScape, claimed to be the UK’s largest online multi-player game.

Hoberman will join WAYN’s board as chairman in January. Stuart Chapman, partner at Esprit Capital Partners also joins the board.

The funding will be used to create new revenue streams, expand the team – particularly in Poland where WAYN’s back office operations are managed – enlarge the geographical base and increase the range of online and offline products offered, including a tailored trip planner; expand the ability to share experiences with others using rich media content; and provide exclusive travel and lifestyle benefits to its members.

WAYN will also be upgrading its IT infrastructure to help ensure that it is able to support its growing membership base.

London-based WAYN claims to be is the world’s largest Web 2.0 travel community site, with a goal to unite travellers from around the world.

Founded in 2002 by friends Pete Ward, Jerome Touze and Mike Lines, WAYN secured initial funding from Steve Pankhurst, founder of Friends Reunited in 2003. 

WAYN enables its users to customise their profile and upload photos. Users can search for others and link them to their profile as friends. It also allows members to keep friends and family informed of where they are, when they are travelling and where they are going next.

Members can share their experiences with others by adding their favourite places and sharing tips on where to stay and things to do.

Membership has grown from 45,000 users in March 2005 to seven million, and is increasing by up to 35,000 a day across 220 countries. WAYN also runs a subscription model as well as generating revenues from advertising.

Co-founding director Ward said: “Back in 2002 we recognised the huge potential for a travel community network. Travel captures the imagination and meeting people from different places is something that most of us really enjoy doing.

“We’re so excited to be working with some of the most respected leaders in their fields. Each investor brings something different and their input in the next phase of our growth will be invaluable.”

Hoberman said: “WAYN is a flagship example of the next generation of internet companies with global potential born out of the UK. The innovative customer proposition, which enables members to interact with others, based on the places they have been or plan to visit in the future, has proved to be extremely popular.  

“By sharing tips and introductions with likeminded travellers, WAYN members can get more out of their leisure time. The WAYN brand has massive growth potential and I am delighted to be involved.” 

Report by Phil Davies 

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