logo
logo

Troubled travel startup Zozi gets acquired by Peek

avatar
Reginald Carson
img

Zozi, the drama-filled travel industry startup whose former CEO recently sued its board, has been acquired by Peek, a rival in the tours and activities business where Zozi also competes.

Terms of the deal were not disclosed, but the two companies will be joining forces, with the assets and team from Zozi heading over to Peek.

The news was reported by Skift, which notes that Peek is basically hiring the Zozi employees and bringing its customers on board, while the Zozi brand and marketplace will be phased out.

This is a nice, soft landing for troubled Zozi, which has been struggling with legal battles following the firing of founder and CEO T.J. Sassani, who sued the board for wrongful termination and a host of other outrageous claims.

Meanwhile,Zozi staff told us that Sassani had been largely absent from the company for months – even skipping its holiday party – had difficult relations with vendors, and was spending money on ventures that other members of the executive team didn’t believe in, and thought could potentially bankrupt the business.

In recent days, Zozi had shifted its focus away from its travel and tours marketplace to Zozi Advance, its B2B platform for bookings and reservations.

collect
0
avatar
Reginald Carson
guide
Zupyak is a free content platform for publishing and discovering stories, software and startups.