Fairly big news from the Canadian accommodation rentals space today: we’ve learned that iStopOver has acquired Vacapedia, a one-stop-shop site for vacation rentals and short-tem accommodations. The deal size was not disclosed, but the transaction is part stock, part cash.
iStopOver is essentially acquiring Vacapedia’s assets, its global inventory and its distribution network. Ashwin Kedia, CEO of Vacapedia, will serve as an advisor to the company.
Like Airbnb, iStopOver lets people rent out their extra space and offer travelers local experiences at affordable prices.
Founded in 2009, iStopOver currently boasts more than 80,000 properties in over 16,000 cities in 92 countries worldwide, and the acquisition of Vacapedia is meant to help the company list more properties but also diversify them.
iStopOver was incubated by Brightspark Ventures and received follow-up funding from GrowthWorks Capital, Ontario Emerging Technologies Fund and JLA Ventures.
iStopOver is an online peer-to-peer travel marketplace for short-term direct rental of excess capacity in homes. iStopOver caters specifically to direct rental of space from one person to another. Guests (Travelers) use iStopOver to find accommodation in someoneâ€™s home as an alternative to paying high hotel rates. Usually priced well below average hotel rooms it gives you the opportunity to â€œlive like a localâ€. The site ensures that all communication takes place between the Host and the Guest online adding a...