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

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