Culture Trip said it is working with Lazarus Consulting, an
adviser for mergers and acquisitions, to explore options for selling the
company or taking in new investors.
The “strategic review” comes after the London-based tour
operator said it completed a management buyout, led by CEO Ana Jakimovska.
Founded in 2011, Culture Trip had raised more than £134
million from investors, with its most recent funding a £34 million Series C
round led by PPF Group, according to Crunchbase.
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The company has shifted strategy several times since its
founding. It began as a content and advertising platform, then switched to a hospitality-focused
online travel agency. In 2020 the company announced a partnership
with Lonely Planet, and in early 2022 it shifted to focus on selling
curated, multi-day trips.
Culture Trip said since that pivot it has achieved 78%
year-on-year growth.
“Our
mission is to connect people through responsible travel to help with loneliness
and the climate crisis,” Jakimovska said.
“Since
our pivot last year, we’ve achieved incredible growth. Our unique, curated trips
deeply resonate with our engaged community of millennials, and we are excited
about what the future holds for us.”
Culture Trip said more than 3 million people have downloaded
its app, and its website has about 9 million monthly unique visitors.