Australia-based Jayride has acquired the assets of AirportShuttles.com
Founded in 2003, AirportShuttles.com is a website for
selling airport shuttle services. Jayride is acquiring the domain name and the
company’s technology, IP and website traffic, which was one million sessions in
the last 12 months.
Jayride had been the exclusive supplier of rides to AirportShuttles.com until February 2020 when it ended the partnership at the onset of the pandemic in order to limit credit risk. AirportShuttles.com owner filed for bankruptcy in May 2022.
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assets we are acquiring are a compelling fit with our growth strategy to build
the world’s leader in rides for travelers. The traffic to the AirportShuttles.com
website enhances the scale of our group, particularly in the United States, and
accelerates our path to cash flow positive,” says Jayride Group co-founder and
managing director Rod Bishop.
“The path to integrate these assets is clear. We intend to
keep the AirportShuttles.com website in place and reimplement the Jayride
booking system to the site in order to resume exclusivity and reinstate the
previous revenue model, thereby monetizing the traffic with ride bookings that
are pre-paid in advance and grow our cash float. This strategy is intended to
quickly deliver accretive returns for Jayride shareholders. We look forward to
completing the transaction in February and adding the AirportShuttles.com
domain and assets to the Jayride Group.”
Jayride raised $3.5 million in November 2019.