Why Locomote’s co-founders bought back their travel tech business — in the midst of the pandemic

Back in 2016, cousins and co-founders David and Ross Fastuca sold their travel tech startup Locomote to a global, listed organisation. Last year, in the midst of the COVID-19 pandemic, with flights grounded and lockdowns still in place, the cousins agreed to buy it back.

With the sale now complete, the co-founders say they have big plans for the startup as well as “unfinished business” to attend to.

Locomote’s beginnings

Founded in 2012, Locomote is a tech-led corporate travel agency, designed to streamline booking processes for business travel.

In 2016, it merged with NYSE-listed giant Travelport, in a deal reportedly worth tens of millions.

After the acquisition, the co-founders stayed on board for two years, before leaving Locomote behind them in 2018.

Just a year later, Travelport was acquired itself and a new chief executive was appointed, bringing a different focus to the business that shifted away from what Locomote initially provided.

It was about this time, the cousins tell SmartCompany, that they were asked to consider getting involved again.

To read the full article by Stephanie Palmer-Derrien from SmartCompany click here.

Original post can be found on locomote.com




Business travel built to save you time, costs and headaches.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Custom ERP Solutions — An Innovative Boost for Small & Medium-Sized Businesses

In China, tech giants take the retail battle to convenience stores.

Early warning about pH values in the Galvanic process

Statzon — the one-stop destination for Robotic Industry Data

Swing Therapeutics closes $10.3M Series A funding

Swing Therapeutics

On our journey so far, we’ve come across lots of questions and discussion around the Internet of…

How To Improve Business Productivity In A Post-Covid World.

5 Enterprise Resource Planning (ERP) Trends to Watch in 2020

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Locomote Business Travel

Locomote Business Travel

Business travel built to save you time, costs and headaches.

More from Medium

Acta Non Verba

Proptech Capmo Replaces Pen and Paper with Digital Workflows and Smart Construction Analytics

The Investment Theory in Product Management

Did You Forget Analytics?