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Boo.com returns for the third time

by Hayley Pinkerfield Revolution UK 02-May-07, 11:20

LONDON - Boo.com, the infamous dot com crash site, is relaunching as an online travel destination.

Web Reservations International (WRI) bought the domain name boo.com from Fashionmall.com, the New York fashion portal that acquired the doomed brand in 2000.

The new boo combines travel-based vertical search, pricing, reviews and social networking. It brings together professional and user-generated content from WRI’s portfolio of travel sites. It features targeted ads with real-time prices for flight and car hire with direct booking functions.

Boo.com collapsed in 2000 after only six months of operation and months of delays. It managed to spend £80m of venture capital investment during 18 months.

After Fashionmall.com bought the brand for an undisclosed sum, it closed it due to falling profits and mounting costs.

WRI was founded in 1999, the same year as the original boo.com, by 22-year-old tech entrepreneur Ray Nolan. Nolan introduced online hostel bookings, and acquired further businesses including hostelworld.com and trave.com with little VC investment. In 2006, WRI handled more than €300 million in annual bookings and generated €19 million EBITDA.

WRI said: "Rather than see boo.com as cursed, we think people will say 'Wow, is boo back?'. People will remember the original collapse, but realise this is a different company with a business model with profit in mind.”