- Inspirato specializes in luxury travel, high-end home stays
- Kleiner Perkins, IVP and Revolution are Inspirato’s investors
Inspirato, a startup specializing in luxury travel, is in talks to go public through a merger with a special purpose acquisition company in a deal valued at more than $1 billion, according to people with knowledge of the matter.
The Denver-based company is discussing a deal with Thayer Ventures Acquisition Corp., said the people, who asked not be identified because the matter is private. Terms could change and it’s possible talks could fall apart.
A representative for Thayer Ventures declined to comment. Inspirato didn’t immediately respond to a request for comment.
Inspirato, co-founded by brothers Brent Handler and Brad Handler, launched the “Inspirato Pass” in 2019. It lets customers book unlimited stays in luxury vacation homes, as well as legacy five-star hotel brands such as Ritz Carlton, starting at $2,500 a month with no other nightly rates or fees. Another membership plan, at $600 a month, provides booking privileges, though users have to pay additional nightly rates.
Despite the pandemic, the company’s booking activity was up 30% year-over-year, Bloomberg Businessweek reported in January. Its more than 18,000 members can choose from 1,200 vacation options in 395 destinations, according to its website.
The Thayer Ventures SPAC, led by co-CEOs Mark Farrell and Chris Hemmeter, raised $172.5 million in a December initial public offering and has said it’ll focus on the travel and transportation technology sectors. The blank-check firm is affiliated with Thayer Ventures, which focused on investing in travel and transportation companies.
Source: Bloomberg – Travel Startup Inspirato in Talks to Merge With Thayer SPAC