WAYN has admitted it received “several” offers to buy the company during 2007 but refused to negotiate over a sale of the business. The revelation came as the travel social network continued to deny rumours which surfaced last week regarding talks between it and online consumer portal AOL. Travolution learned earlier this week that WAYN…
WAYN approached over sale – but not by AOL
WAYN has admitted it received “several” offers to buy the company during 2007 but refused to negotiate over a sale of the business.
The revelation came as the travel social network continued to deny rumours which surfaced last week regarding talks between it and online consumer portal AOL.
Travolution learned earlier this week that WAYN has attracted the interest of a number of parties in the past 12 months.
WAYN declined to comment on the identity of the companies but officials confirmed that AOL was not one of those who made enquiries about the business.
Marketing manager Annika Erskine said: “We have indeed had several approaches, none of which have been right for us at the time and the circumstance.”
“We are wholly committed to growing a successful business over the long term and to strengthen our position as the world’s largest travel and lifestyle social network.
Meanwhile, suggestions the company’s suite of backers will be looking to cash in on their investment this year were also rebuffed this week.
Travolution understands the group – which includes the Howzat Media team of David Soskin and Hugo Burge from Cheapflights, ex-Lastminute.com chief executive Brent Hoberman and former-executives at Active Hotels – did not include an exit timescale as part of their investment in January 2007.
WAYN will not be required to sell the company because of pressure from its backers, Esrkine confirmed.
She added: “We meet many different companies in the general course of our day to day business but we are not in an engagement process to sell with any company at this time.”
In April 2007 Travolution revealed Thomson Holidays had considered investing in WAYN but backed away when the current group emerged as contenders.
