Culture Trip Raises $80M in Large Series B Funding Round
Culture Trip, the fast-growing startup providing cultural and travel inspiration to users looking to explore the world, today announced $80M in funding. This large series B investment further demonstrates that Silicon Valley-sized startup deals are continuing in Europe.
Led by PPF Group, the round is being used to aggressively propel the business forward across all areas, including an immediate bolstering of its executive team with key hires joining from leading tech companies, and a product redesign launching today.
Off the back of the raise, Culture Trip will also use the funds to significantly expand its engineering and creative workforce around the world to fuel innovation, drive further audience growth and roll out various monetisation strategies.
“I started Culture Trip with the ambition of applying my long-standing passion for global culture and creativity to building a tech company that could innovate in this space,” said Dr. Kris Naudts, Founder and CEO of Culture Trip. “With this game-changing investment, Culture Trip is focused on improving the current user experience and value proposition, with the aim of building a leading, global consumer brand that will disrupt the media and travel industries through its creative content and tech.”
Ladislav Chvatal, Chief Officer for Strategic Projects of PPF Group, added, “Having watched Culture Trip’s tremendous growth over the last few years, alongside the top talent and palpable passion inside the business, we see huge potential for it to truly revolutionise the media and travel industries. PPF Group is excited to help accelerate Culture Trip’s expansion plans and eager to see what lies ahead.”
With offices in New York and London, as well as an R&D team in Tel Aviv, Culture Trip moves into this next phase of development with an expanded leadership lineup from tech businesses, including Facebook, Google and YouTube.
Joining as CMO, Mike Fox will oversee the company’s global marketing division with a focus on audience growth and turning users into a powerful global community connected through shared interests. Previously, Fox was at Facebook and part of the early team responsible for growing Facebook’s annual advertising business. Recently appointed CRO, Dick Soule, will be tasked with expanding and diversifying Culture Trip’s monetisation efforts across multiple markets. Soule was the first head of global sales at YouTube, playing a key role in developing and driving their sponsorship and media programme. He also possesses AR and VR experience from his more recent positions representing Samsung VR and Jaunt VR.
These executive appointments will work alongside Nick Jakobi, Chief Product Officer, who previously joined Culture Trip, having worked at Facebook and Google, bringing with him significant product and AI experience. Also grounded in tech, Culture Trip’s Board of Directors includes Dr. Nelson Mattos, former Vice President of Engineering for EMEA at Google, as well as Yariv Adan, Product Lead on the Google Assistant.
“I’m thrilled to have such world-class tech talent on our growing executive team and Board,” said Dr. Kris Naudts. "With this investment and quality of leadership, Culture Trip is now ready to enter a new phase of hyper-growth.”
The company, today, also launched a new brand aesthetic to its product, (website, app and social channels), with a new logo and colour palette. Plus, new smart tech features, including wish lists, integrated Google maps and planning tools, are being rolled out as the platform starts to offer a more seamless experience for the global traveller.
This collective announcement comes on the heels of Culture Trip’s recent reveal of plans to launch an online travel booking division later this year, connecting boutique hotels, independent hotels, hostels and experience providers with the company’s rapidly rising millennial following.
For a look at the creative content produced by Culture Trip, please visit here.
About Culture Trip
Culture Trip is a fast-growing startup inspiring and enabling people to explore the world’s culture and creativity. Its in-house creative teams in London and NY together with its global network of 300+ freelance contributors have produced approximately 75,000 articles, videos, photos, illustrations and animation, currently featured on the company’s website, app and social channels. The inspirational content spans most formats and verticals, with location playing a role in every story. The company’s engineering teams are based in Tel Aviv and London. Founded by former academic psychiatrist Dr. Kris Naudts, Culture Trip has been dubbed one of the UK’s fastest-growing companies by Forbes UK. Culture Trip attracts more than 15 million monthly unique visitors to its website each month and has a social media following exceeding 5 million. Its video content has generated more than 1 billion views last year, its app has been downloaded nearly a million times and thousands of people subscribe to its monthly newsletter. Explore the world and visit www.culturetrip.com, or connect with us on Linkedin, Facebook, Instagram, Pinterest.
PPF Group invests into multiple market segments such as banking and financial services, telecommunications, biotechnology, insurance, real estate, and agriculture. PPF’s reach spans from Europe to Russia, the USA and across Asia. PPF Group owns assets of almost EUR 35 billion (as at 30 June 2017). PPF Group employees 170,000 people globally.
More info: www.ppf.eu
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
FedEx Expanding Freight Forwarding Capabilities with Acquisition of Manton18.10.2018 06:00 | Pressemelding
FedEx Corp. (NYSE:FDX) announced today that it has agreed to acquire Manton Air-Sea Pty Ltd, a leading provider of logistics services, including freight forwarding and customs brokerage solutions. Manton’s capabilities complement and expand the FedEx portfolio of offerings essential to the rapidly growing global commerce landscape. The acquisition is expected to close later this year and is subject to customary closing conditions. With operations across Australia, Manton connects customers to global markets through regional gateways and relationships with multiple air carriers. With specific expertise in the healthcare and automotive markets, Manton is a proven leader in air and ocean freight forwarding solutions, as well as customs brokerage. Headquartered in Sydney, Australia, Manton will operate as a subsidiary of the FedEx Trade Networks operating company. “Adding Manton’s capabilities to FedEx Trade Networks and the broader FedEx portfolio will open up opportunities for us to cont
SailPoint Celebrates Identity Champions at Navigate ’18 Europe18.10.2018 05:01 | Pressemelding
Identity practitioners from around the world joined SailPoint Technologies Holdings, Inc. (NYSE: SAIL), the leader in enterprise identity governance, in Barcelona, Spain today for Navigate ’18, the identity governance conference. This event wraps up the global Navigate ‘18 conference series, following sold-out events in Austin and Sydney earlier this year. SailPoint customers BNP Paribas CIB, Nedbank Limited, NXP Semiconductors, Schneider Electric, Specsavers, Uniper and University of Reading will share with attendees how they are driving the new frontiers in identity for their organizations. Navigate ’18 attendees will also hear from SailPoint’s executive leadership team on what’s next in identity as we near the end of the year. “As we adapt to the changes brought on by digital transformation, implementing a single, comprehensive identity governance solution across BNP Paribas CIB is key in enabling us to adopt new technologies while remaining secure and compliant,” said Aurelie Houee
London Solidifies Lead, New York Rises Fast and Tokyo Retains 3rd in Global Rankings18.10.2018 03:40 | Pressemelding
London, New York, Tokyo and Paris were again named the world’s most comprehensively attractive cities, in that order, in the Global Power City Index (GPCI) 2018 report published today by The Mori Memorial Foundation’s Institute for Urban Strategies, a research body established by Mori Building, a leading urban developer in Tokyo. The annual GPCI report has ranked 44 major cities in terms of “magnetism,” or overall power to attract creative individuals and enterprises from around the world, since 2008. Cities are rated in terms of 70 indicators in six categories: Economy, R&D, Cultural Interaction, Livability, Environment and Accessibility. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181017005307/en/ London stands alone, New York rises fast, Tokyo creates separation and Paris recovers The top four cities remain unchanged from last year, with London, New York, Tokyo and Paris maintaining their respective one-through-four po
Board Members Serve as the Critical Link to Security and Corporate Governance, Diligent Survey Finds17.10.2018 19:48 | Pressemelding
Board members and executives are not taking enough precautions when executing board communications, according to a new report from Diligent Corporation entitled “Directors’ Digital Divide: Boardroom Practices Aren’t Keeping Pace With Technology.” The survey found that while 87% of firms are concerned with the security of their board communications and data sharing, more than half (55%) of their board members still use personal email for board communication, exposing themselves and the boards to potential cyber-attacks. In this survey, Forrester Consulting conducted research targeting board members, general counsels and administrators from 11 countries to better understand the current global state of governance amidst rapid technological disruption. Having access to more boardrooms than any other company, Diligent is uniquely positioned to provide insight into businesses’ cyber risk, regulation and culture practice – as well as how these critical governance areas can be improved. “Techn
JPMorgan Chase Bank Announces Initial Exchange Price for the Cash-Settled Exchangeable Bonds into Dufry Due 202117.10.2018 18:13 | Pressemelding
Following the placement on 10 October 2018, JPMorgan Chase Bank, N.A. today announces the initial exchange price of the cash-settled exchangeable bonds due 2021 (the “Bonds”) in aggregate principal amount of USD 205 million, referable to ordinary shares of Dufry AG (the “Shares”) The initial exchange price of the Bonds has been set at CHF 134.8547, representing a 25% premium over the reference share price of CHF 107.8837, which was determined in the manner described in the press announcements released on 10 October 2018 and based on a Reference FX Rate of CHF:USD 1.0096. Settlement and delivery of the Bonds took place today. About JPMorgan Chase & Co. JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Indu
Mouser Electronics and Grant Imahara Launch New Series All Things IoT about Technology Redefining How We Live17.10.2018 15:40 | Pressemelding
Mouser Electronics Inc. and celebrity engineer Grant Imahara today released a new video introducing All Things IoT, the latest series in Mouser’s award-winning Empowering Innovation Together™ program. The All Things IoT series is sponsored by Mouser’s valued suppliers Digi International, Maxim Integrated, Murata and TE Connectivity. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181017005655/en/ Global distributor Mouser Electronics and engineer spokesperson Grant Imahara team up to launch All Things IoT, the latest series in Mouser's Empowering Innovation Together program. The new series kicks off with Imahara's visit to the HPE IoT Innovation Lab in Houston to learn how the Internet of Things is impacting our workplaces and cities. To learn more, visit www.mouser.com/empowering-innovation/all-things-iot. (Photo: Business Wire) In the new video, Imahara and Mouser explore the complexities of life rooted in the Internet of T