"Our position in the Asia Pacific region will be further strengthened through the vast promotion, business development and integration opportunities available to us through News' investment."
Bezurk.com's revenue model is based on "Pay Per Click" and other performance based commercial agreements. News Digital Media's investment in Bezurk.com comes as the Asia Pacific travel region is estimated to currently be worth more than US$25 billion and growing.
News Digital Media chief executive officer, Richard Freudenstein said, "This strategic investment is significant for us as we continue to identify new commercial opportunities locally and overseas."
"We expect the online travel industry throughout the Asia-Pacific region to move closer towards growth seen in the United States, as travellers hunt for the best deals on comparison shopping sites."
"Bezurk.com makes it easy for the traveller by empowering them to compare travel information and choose the best possible deal."
"We look forward to working with Bezurk.com to ensure it becomes the authority travel search engine throughout the Asia-Pacific region," Mr Freudenstein said.
In a separate transaction concurrent with the News Digital Media investment, Singapore based venture capital fund O,W&W Investments II Limited also acquired a stake in Bezurk. O,W&W will also be represented on the Bezurk board.
Vicky Karantzavelou - Tuesday, January 15, 2008