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We covered Ukrainian venture fund TA Venture in the past, although the fund has been primarily backing western startups. Today fund reports its first exit. Alas the sum of the deal is not disclosed, as its portfolio company WeHostels gets acquired by StudentUniverse.
WeHostels is a mobile app that helps backpackers book 80,000 hostels in seven languages and 800 cities. In 2012 WeHostels raised $1,2 million from Ventech, Quotidian Ventures, CAP Ventures and TA Venture.
The acquirer StudentUniverse is billed as the world’s largest online travel agency for students, which has serves 8 million customers in 2013. According to WeHostels founder Diego Saez-Gil the acquisition will help WeHostels grow whilst improving technology and expanding its product range.
According to the managing director of TA Venture Viktoriya Tigipko, the return on the investment was really good, and asserted her belief in the investment attractiveness of mobile app and device-based businesses.
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