ReviewPro Acquired by China's Shiji at $35 Million Valuation
Skift Take
This is a decent exit for the investors in ReviewPro and a wake-up call to a Western hotel industry ignoring China's tech scene. But it is also a validation of ReviewPro's particular approach of giving hotels actionable analytics on guests for sales and marketing, and revenue management -- and not just monitoring TripAdvisor ratings.
ReviewPro, the reputation management and hospitality analytics firm, has been acquired by Hong Kong-based Shiji, a hotel software company that is part-owned by Alibaba, the companies said.
Shiji paid about $28 million to take 79.47 percent ownership in the startup, in a deal that placed a $35 million valuation on the company.
Founded in 2009, ReviewPro had raised 5.5 million euros (about $6.7 million at the exchange rates in July 2013 in funding — including 3 million ($4.1 million) from Active Venture Partners, a venture capital fund in Barcelona. The fund (and other minority shareholders, except for the founders) sold all of their shares as part of the deal.
Barcelona-based ReviewPro clai
