Debbie Wosskow’s Love Home Swap acquired for a reported £40m
London-based startup Love Home Swap has been acquired by RCI, a division of the Wyndham Hotel Group, for a reported £40m.
The news comes after the sharing economy marketplace, which allows users to book other people’s homes for a holiday, raised funding from investors including MMC Ventures.
According to TechCrunch, CEO and co-founder Debbie Wosskow OBE will be stepping down from her role and moving on to become an advisor for the next six months.
Her brother and co-founder, Ben, the publication reports, will become the CEO.
Speaking about the deal, Gordon Gurnik, president of RCI, said: “Since first pioneering the vacation exchange concept more than 40 years ago, RCI has continually found new ways to evolve and grow its own business while also propelling the exchange industry further.
“Through this acquisition we expand the exchange options we offer travelers and strengthen our footprint in key growth markets across the globe.”
Wosskow, who co-founded AllBright, an investment fund for female entrepreneurs, with Anna Jones (ex Hearst CEO), is also the founding chair of industry body Sharing Economy UK and sits on the Mayor of London’s Business Advisory Board.