YPlan sells to Time Out
By Teamspirit on Friday, 28 October 2016
Time Out has acquired YPlan, the four year old, London-based event discovery and booking platform for £1.6m.
This deal looks like a great fit for Time Out, which is looking to build its global footprint as retailer as well as recommender, as it will benefit from YPlan’s relationships, app and online infrastructure, and product development team.
But the news may not be quite so good for the venture capital firms which have collectively invested around £31m in the startup. Well-known VCs including Octopus Investments, Wellington Partners and General Catalyst all stand to make a loss from the sale.
We think this story is a fascinating insight into the risks inherent in tech venture capital, as well as the every-changing events market.