Wikitravel is trying to prove you can build a successful business on the back of wiki. It's not the only one. Bessemer-backed Wikia, WikiHow and Generation Partners-backed ShopWiki are also using the editable web page format to provide online information. And on the business side, JotSpot, which was acquired by Google last month, and SocialText, which has previously raised venture capital funding from Draper Fisher Jurvetson, are using the technology commercially.
It remains to be seen if these efforts will generate profits. While JotSpot was acquired, no price was disclosed and it's not clear at all if the Mayfield and Redpoint Ventures-funded startup had gained much revenue traction prior to its sale to Google.
I put this point and more to Evan Prodromou, who founded Wikitravel along with his wife in 2003 after growing frustrated with the outdated information the guidebooks they were using on a trip to Asia provided them with. Earlier this year, they sold the company to Internet Brands for an undisclosed amount.
Prodromou thinks the company can continue growing by capturing advertising revenue at the long tail. That is, rather than beat Fodor's Guide to Paris, Hawaii or other very popular destinations that are well covered, Wikitravel can cover places that the guidebooks can't afford to cover. And it can do it in a more timely fashion. Watch the short interview below:
Tags: wikitravel, web2, web20summit, web20summit06, vc, venture+capital
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