It was very sad to hear the news regarding the sudden closure of Tripology late yesterday. Despite being lauded throughout all areas of the travel industry, and apparently having just achieved one of its best revenue months in January, the award winning company (and novel idea) had to suddenly terminate all staff and start looking for a new investor. According to the email I received yesterday afternoon from John T. Peters, President and CEO of Tripology, the company’s “newest investor, very late last week, indicated they intended not to continue to fund the company as agreed in December 2009.” Peters went on to state that Tripology’s “free service for consumers, has developed a community of over 13,800 travel specialists and has processed over 130,000 trip requests from online travelers since launch in 2007.”
I wish John the best of luck as he begins his search for a new strategic partner and I have a good feeling that this unforeseen closure will be short lived.