Travel intelligence media company Skift has raised an undisclosed amount of investment from Times Internet. This investment was disclosed by Times Internet CEO Satyan Gajwani on Twitter. Gajwani and Skift CEO Rafat Ali have also confirmed this investment to Medianama.
In an emailed response to Medianama, Ali said that this investment was part of Skift’s last funding round in May 2013, where it had raised $1.1 million seed funding from various funds like Lerer Ventures, Ironfire Angel, MESA+, Advancit Capital and Growlab+LX Ventures and angel investors like Jason Calacanis, Shakil Khan and Michael Cunniff among others. The company had then said that it plans to use the investment raised to expand Skift’s data services, build its initial sales infrastructure and double its team to 10 members.
Skift has raised a total investment of more than $1.5 million until now, which includes a $500,000 seed round raised last year from 14 angel investors like Vishal Gondal, Luke Beatty, Chris Ahearn, Gordon Crovitz and Sanjay Parthasarathy among others.
Launched in July 2012, Skift offers news, insights, data, tools and services to the travel industry and to business travelers seeking expert advice on the travel segment. On the content front, the site offers a mixture of original reporting, aggregation (pure software), curation (semi-software, human intelligence) and licensed stories (from sources such as AP, Reuters, Bloomberg, LAT, Guardian, Telegraph & many others). It claims to have 500,000 unique users as of May 2013 and has licensing and distribution partnerships with CNNTravel.com, NBCNews.com, LinkedIn, Advertising Age, Flipboard and Quartz.
In February 2013, Skift launched SkiftSocial which offers social media metrics to global travel brands and aggregates data from Facebook, Twitter, Instagram, Klout and YouTube.
Investments By Times Internet
This is the second investment in an International company by Times Internet, after it made a 7-figure investment in the design-focussed e-commerce Fab.com last December. Fab.com CEO Jason Goldberg had then informed that Fab would be working with Times Internet to explore and execute on its India market strategy in the coming years.
However, Times Internet has made several domestic investments like Zipdial, Delhivery and ZopNow until now. It also owns an incubator TLabs through which it has invested in startups like Happay, Oogwave, KaraokeGarage and MusicFellas among others.