Former Yahoo! Travel Exec, Yen Lee Raises $10 Million Series B For UpTake.com
Yen Lee, former General Manager of Yahoo! Travel has raised $10 million in Series B funding for his start-up. His start-up is called UpTake.com and the funding was led by Trinity Ventures and Shasta Ventures. The first round of funding was $4 million in December 2007. UpTake.com is a travel search engine that grabs data from multiple sites at once. This includes websites: TripAdvisor.com, Expedia.com, Fodors, goCityKids, Virtual Tourist, and Yahoo! Travel.
With this round of funding, UpTake plans to expand into Lodging, Things To Do, Restaurants, and Beaches features. UpTake will continue to invest in it’s own search engine technology. UpTake works with BedandBreakfast.com, Restauranti.ca, OpenTable, La Quinta Inn & Suites, Away.com, and FriendCommunications for RV and campground reviews.
“We looked at dozens of investment opportunities in the online travel industry for several years before deciding to invest in UpTake,” stated Patricia Nakache, general partner of Trinity Ventures. “UpTake has a distinct approach that addresses a big search and discovery gap in the travel market and is run by a proven CEO and team.”
UpTake has aggregated and organized about 20 million traveler reviews, ratings, and articles. UpTake is based in Palo Alto, Calif. and has engineering units in Beijing and Moscow.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry