We sold 15% of our stake in Travel Appeal with a cash return of close to 12 times the initial investment.
The partial exit generated a cash return of close to 12 times the initial investment, for a total value of €900.000 and a capital gain of €823.000; after the operation, we will have a stake capital of 10,96% in Travel Appeal. The stake was sold mainly to Dutch investment fund Airbridge Equity Partners.
Travel Appeal, founded in January 2014 by Mirko Lalli in our Campus, is a B2B company that supports facilities, touristic destinations and groups, hotel chains, associations and territories with an Artificial Intelligence system able to collect and analyze online comments and reviews in real time, optimizing their interpretation by transforming them into practical tips to improve the digital reputation. Today Travel Appeal has two offices: one here in Ca' Tron, and one in Florence, with a team of 30 people. Recently it inaugurated a new office in Amsterdam and another one is scheduled to open in London by the end of 2018.
This is a great success for us, after the other partial exit made from Depop last January.