SOURCE: DealBase

DealBase

May 05, 2009 09:00 ET

DealBase.com Announces Series A Funding: Hotel Deals Website Raises $1 Million From Prominent Angel Investors

Features More than 20,000 Hotel Deals

SAN MATEO, CA--(Marketwire - May 5, 2009) - DealBase.com, a next-generation hotel deals web site, announced it has closed Series A funding, totaling $1 million from prominent angel investors. Notable individuals participating in the financing include Russ Siegelman, an Affiliated Partner at Kleiner Perkins Caufield & Byers; Bob Zipp, Managing Director of Amicus Capital and Josh Hannah, General Partner at Matrix Partners and former CEO of eHow.com. The funding will be used to continue the development of the DealBase.com online service, including category expansion and the addition of international travel deals.

"We are honored to have such an esteemed group of investors participate in our Series A financing, recognizing our strength in the hotel deals market," said Sam Shank, CEO of DealBase.com. "Unlike other travel deals sites, we offer unbiased information and have the largest collection of hotel deals and discounts on the planet. With this new financing, we will continue to bring innovative products and services to the travel deals category."

Launched only five months ago, DealBase.com has experienced significant growth, with more than 100,000 unique visitors in March 2009. The company today also announced upgrades to its service, including functionality that allows users to refine travel deals by categories of interest. For example, the 300+ Las Vegas hotel deals can be refined to reveal the 10 best deals at five-star hotels that include a spa credit or amenity.

"Given the downturn in the economy, everyone's looking for great travel deals and hotels are offering incredible bargains. The timing couldn't be better for DealBase.com to offer its online service, collecting and organizing hotel deals to save consumers time and money," commented Mr. Siegelman, an affiliated partner at Kleiner Perkins Caufiled & Byers.

"Sam Shank and the DealBase.com team have a proven track record in online travel," said Bob Zipp, Managing Partner of Amicus Capital who was an investor in Mr. Shank's previous company TravelPost.com, which was acquired by SideStep and now part of Kayak Corporation. "We are pleased to be investors in DealBase.com, impressed at the traction thus far, and enthusiastic about the opportunities the Company is pursuing."

About DealBase.com

DealBase.com is a next-generation site for finding great hotel deals. DealBase.com scours the web to provide travelers with the world's largest database of hotel deals, special offers and packages, currently numbering more than 22,000, culled from over 3,500 unique sources. The Company's innovative Deal Analyzer functionality compares deal prices to regular prices, so travelers can determine if they're getting a good deal or not. DealBase.com launched in November 2008 and is based in San Mateo, California. For more information, visit www.DealBase.com.

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