Las Vegas-based startup JusCollege acquired for $25M
Las Vegas-based student travel company JusCollege was acquired by word-of-mouth marketing company Verve for $25 million earlier this month.
The acquisition marks the fifth of a Las Vegas-based startup since the beginning of the year, according to Crunchbase, a database that tracks startup acquisitions.
JusCollege offers travel packages to college students and moved from San Francisco to Las Vegas in 2013 with a 17-member team. The company has grown by 400 percent since 2014, and now has more than 50 full-time employees, according to a news release from Verve. More than 500,000 students have used JusCollege to travel to more than 75 destinations across North America.
The acquisition is part of Verve’s strategy to expand its invite-only marketplace, Pollen, to the United States after its initial launch earlier this year in the United Kingdom. Pollen allows “influential young people” to choose from a variety of experiences to sell to their friends in exchange for rewards such as tickets, trips and backstage passes. Callum and Liam Negus-Fancey, brothers who founded Verve, said the acquisition is an important step in the company’s vision in building the best buying experience for young people.
“Our goal has always been to create amazing experiences for consumers with memories that last a lifetime,” JusCollege founders Andrew Citores and Bo Thede said in the release. “We are thrilled to finally make this dream a reality by joining Verve. Whether it’s a weekend at their favorite music festival, a trip to Mexico during spring break, or a Friday night football game, our members can promote their most memorable experiences to their friends and be rewarded for it.”
JusCollege will be moving to Zappos’ old Green Valley headquarters in August.
Contact Bailey Schulz at bschulz@review-journal.com or (702)383-0296. Follow @bailey_schulz on Twitter.
