TOUR and activities booking platform Rezdy has been sold by its founder Simon Lenoir for a figure believed to be north of $100 million.
The business has been purchased by an as-yet-unnamed US private equity firm, with the Australian Financial Review reporting that although Rezdy was significantly impacted by COVID, it had managed to emerge from the travel shutdown in stronger financial shape than it had been prior to the pandemic.
Rezdy’s model works by earning money through software subscription fees and taking a share of the transactions booked on its platform.
The company has been busy in recent years on the collaborations front, inking a deal with technology platform Tourplan in 2021 to bring about live integration, allowing tour operators and destination management organisations on Tourplan to make real-time bookings of all tours and activities listed on the Rezdy Marketplace.
The year before that also saw Rezdy selected by Groupon to be its first partner for Groupon Connect, the company’s “next-generation API”.
As a result of the deal, Rezdy was able to to sync its bookings with Groupon’s inventory so that booking partners, reservation and ticketing platforms could connect their merchants to the Groupon platform.
Founder Lenoir reportedly came up with the idea for the tour booking software company while working as a scuba diving instructor in Thailand.