Travel search site Farecast has reportedly been sold in a deal that values the company at more than $75 million.

Published: 15 Apr 2008

Travel search site Farecast has reportedly been sold in a deal that values the company at more than $75 million.

According to seattlepi.nwsource.com, the development was attributed to a source with knowledge of the situation. The report shared that the buyer was not known, and Farecast Chief Executive Hugh Crean declined to comment.

"But one natural choice would be Expedia, the Bellevue travel juggernaut. Expedia spokeswoman Katie Deines said Sunday that the company does not comment on "rumors and speculation"," it added.

In January this year, the company had announced the completion of an oversubscribed $12.1 million Series C financing led by Sutter Hill Ventures. Other new investors in Farecast included PAR Capital Management, Pinnacle Ventures, and Farecast board member and former Expedia CEO, Erik Blachford. Existing investors, Greylock Partners, Madrona Venture Group, and WRF Capital also participated to the round. With the close of this latest financing, Farecast has now raised approximately $20.6 million in venture funding.