Great news for Stephan Ekbergh and for South African entrepreneurs hoping to make it big! My Friend Pip just found this story: eTRAVELi acquires the european arm of their competitor Travelstart - this adds just another success story to serial entrepreneur Stephan Ekberghs biography. While Travelstart had sales of approximately ZAR 1.5 billion in Europe during 2009 eTRAVELi and Travelstart together are now expected to sell 5 billion (Rand and Swedish kronor are nearly on par) worth of travel in 2010. The sales price is not disclosed, but Stephan blogs about his motivation to sell the european operation on his personal blog and that he wants to completely concentrate on the emerging markets and he realised that he had to let go of the european arm of his 'baby'.
Reportedly brokering 50,000 flight bookings a month on the South African Travelstart platform alone, Travelstart is a travel giant on the tiny e-commerce market of South Africa and I do seriously hope that this is not the last positive news we hear from this travel powerhouse, operating from Cape Town.
Update: after receiving confirmation and further details from Stephan via this comment, I rewrote the posting and clarified the separation between Travelstart Europe and Travelstart South Africa. Official confirmation can be found on the Travelstart blog where they confirm: "The deal means that Travelstart.co.za will own the rights to the global Travelstart brand, and that eTraveli takes over the European brand management and all its operations there."