Travelzoo's would-be buyers include Google, Amazon
After a 14-year run, one of the Internet's daily deal pioneers is said to be packing up shop.
Travelzoo might just be putting itself on the market. This 14-year-old Internet company, which helps travelers find deals on flights, hotels, and vacation packages, has seen a dismal past few months and therefore could be getting ready to sell itself, according to Reuters.
Prospective buyers include Google, Amazon, and online travel Web sites, according to Reuters. These tech companies might want to get their hands on Travelzoo because of its 24 million subscriber-base, its share in the daily deal world, and its advertising-generated revenue stream.
Currently the New York-based company has a market value of $336.1 million and once the news was leaked today that it might be looking for buyers its shares shot up 30 percent to close at $27 per share. Reuters reports that the company is also in the process of hiring a financial adviser.
Since last July, Travelzoo's shares have declined by 75 percent. High competition from Expedia, Priceline, and Groupon has hurt the business. Travelzoo has tried to mitigate the problem by getting into the local deals market basically following .
Travelzoo declined to comment on this matter.