Vacation Rental Search Site Tripping Lays Off 15 Employees and Restructures
Photo Credit: Skift
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Metasearch is hard, and comparison-shopping for vacation rentals and apartment shares is even harder. Tripping and others are having a hard time building their brands in the face of competition from larger players with more ample resources.
Is it a moment of reckoning for vacation rental metasearch, the handful of businesses that enable consumers to comparison-shop for alternative accommodations?
One such sector leader, Tripping.com, confirmed that it has restructured to reduce cash burn, and has laid off 15 employees in its San Francisco office. Skift received a tip Wednesday that the company, which had raised more than $50 million in funding, had parted ways with 30 percent of its staff.
Tripping founders Jeff Manheimer and Jen O'Neal confirmed the 15 layoffs in a statement.
"This week, my co-founder and I made the decision to restructure Tripping.com to reduce our cash burn and focus on profitability," Manheimer and O'Neal said in an email. "In order to lower our operating expenses, we have reduced our staff by 15 people here in San Francisco. Our office in Buenos Aires is not affected by these changes."
The two Tripping.com founders said it was a
