TripAdvisor acquires Jetsetter from Gilt

US based popular travel advice and booking site TripAdvisor has acquired luxury travel site Jetsetter from Gilt Groupe,an online shopping destination based in the United States for an undisclosed amount. TripAdvisor did not reveal the price, but Gilt has been reportedly shopping around Jetsetter for $30 million to $50 million since late last year.

TripAdvisor co-founder and CEO Steve Kaufer said Jetsetter will help the company reach out to customers interested in a members-only private-sale experience.With Jetsetter and their own SniqueAway brand, they now have two leading travel private-sale sites under one roof.

Jetsetter launched out of beta three years ago in September 2009 and currently has more than two million active users.  A travel community providing members with hand-selected experiences, verified by experts,from hotels to homes, tours to trip planning, Jetsetter offers exclusive deals and insider advice you won’t find elsewhere.

About Gilt Groupe

Founded in 2007, Gilt Groupe is based in New York and works on a membership based business model. It allows customers to shop directly through facebook  and also provide access to shop select offers before the sales launch on the e-commerce site to the facebook users.

Apart from Jetsetter, Gilt Groupe  includes Gilt man-a man only sale site, Gilt city-a location based deal service,and Gilt Taste-a public, gourmet food site. Gilt Groupe have also launched the GO App for iPhone on the Apple App Store and Gilt App for iPad, becoming one of the first retailers to develop an iPad application.

Gilt has gradually been consolidating some of its verticals and laying off employees in a move seen as attempting to boost profitability and make way for company’s IPO.