Tuesday, April 24, 2012

Austin Ventures' Portfolio Firm, The Nile Project, Acquired

The Nile Project, the online travel operator behind NileGuide, 10Best, and Localyte which is venture backed by Austin Ventures, has been acquired. The Nile Project is being acquired by Travora Media, an Internet media publisher in the travel area. Financial terms of the acquisition were not disclosed. Austin Ventures' investments in The Nile Project were overseen by Thomas Ball, a partner at Austin Ventures. Other investors in Nile Media were Draper Richards, KPG Ventures, and Tenaya Capital. Travora is backed by Rho Ventures, Village Ventures and StarVest Partners.