TIL owned incubator TLabs invests in Manhattan based travel intelligence startup Skift
TLabs, a Times Internet Ltd owned incubator, has invested undisclosed amount of fund in Skift – a Manhattan based travel intelligence company that offers news, information, data and services to professionals in the travel industry and professional travelers to help them make smart decisions about travel.
Times Internet Limited CEO, Satyan Gajwani confirmed the investment to our publication. Speaking to Yourstory Gajwani said “T-Labs invested in Skift as part of its last fundraising round”. Earlier in May this year, Skift raised $1.1 million in seed funding from a group of investors including Sanjay Parthasarthy, Vishal Gondal, Gordon Crovitz, Lerer Ventures, Advancit Capital, Mohamed Nanabhay, Tom Glocer and others.
Importantly this is the second investment of Times Internet Limited in global digital startups under Gajwani’s leadership. Last year it had invested in US based fashion etailer Fab.com. “We look for the best companies wherever that we can learn from. Skift is doing awesome things and building the new relevant media company, and there’s a lot of learning in joining for the ride’” added Gajwani.
Incepted by Rafat Ali and Jason Clampet in 2011 Skift claims to have more than half a million unique users in May 2013, out of which 25% of users originating from mobile. In his earlier stint, Ali founded Paidcontent.org which was sold out to Gigaom Network last year.
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