As I have read many articles and posts with far too many inaccuracies, I thought it was time for another update. Most importantly, reports of our “demise” are a bit premature, though I know it makes for catchy headlines.

1. We are still looking for new investors. I’m amazed at the positive interest level and while you simply never know what will happen until it does, I’m encouraged with the conversations and the speed at which otherwise slow moving organizations are moving.

2. For those who posted comments on various blogs or news sites with all sorts of calculations, estimates of costs and revenues, etc. please appreciate there are so many aspects to our business that you have no idea about. Your math is much more wrong than right.

3. For those very successful users of Tripology that have called and emailed us, thanks so much for your support. The team and I continue to be impressed with your heartfelt comments and posts.

4. While the company continues to look to secure a new investor, agents may continue to buy leads using any existing paid and free credits they have on file with Tripology.

Please check back here for further updates. In addition, please do not hesitate to e-mail or call me with any questions. However, I ask for some patience regarding replies as I am very busy during this critical time in the ongoing development of Tripology.

Best,

JOHN

This week started out as a very difficult one for me.  I had to tell my great team that our newest investor had decided not to fund the company as agreed in December and, as a result, we were all, effective immediately, out of a job.  The team was as shocked as I was just 48 hours earlier. We all wondered how this could be, especially coming off the best gross profit month we’d ever had.  Clearly we had turned the corner after all our hard work and just couldn’t imagine why this was happening.  Immediately I shared my view with the team that I didn’t have the time nor the inclination to worry about all the “why?” questions. Rather I had to find a new investor.  That is exactly what I’ve been doing all week, with laser focus, nearly around the clock.

If you know me, you know I’m a big fan of social media and the transparency it offers. As such, I’ve been open an honest about what’s going on.  

I’m in the middle of some very interesting conversations with some wonderful companies about investing in Tripology.  Some can move more quickly than others.  Clearly, in this case, speed is of the essence.  Obviously, I can’t go into detail on each conversation, but I’m happy with the progress. Of course, nothing is sure until the check is in the bank.  Further, as we know now, nothing is sure until ALL the checks are in the bank.

The site is still up and generating leads.  Travel professionals with free or paid credits can continue to buy leads.  

I did want to say thank you to the hundreds (literally) of people who sent us emails and posted positive comments on various chat rooms.  The outpouring of support has been amazing and means so much to all of us at Tripology as well as our families.  I promise I’m doing as much as I can and as fast as I can to try and make something happen.

I’ve also received countless emails, notes and calls from people asking if I was okay. I reassured them I was as well as could be expected and that the life of an entrepreneur is not always easy, but I’ve been doing it most of my life. I will share with you a quick story about last night. I arrived home to my beautiful three year old daughter (my son was already sleeping) who greeted me with open arms, a big hug and kiss.  When she said “I missed you Daddy.  How are you?” I responded that I had a tough week at work and that I was sad.  She then asked “Did you cry?” and I told her I had not.  She said “That’s good Daddy, you have to be brave… like Barney.”  Leave it to a three year old to sum up life in one sentence. Check back soon.

Best,

John

Despite achieving one of our best revenue months in January of 2010 and enjoying months of unit-economic profitability, our newest investor, very late last week, indicated they intended not to continue to fund the company as agreed in December 2009 (as indicated in a press release on the company website on December 2, 2009.) Visit http://www.tripology.com/consumer/news/ for a listing of all our press releases.

As such, Tripology immediately stopped accepting travel agent payment for lead credits, terminated the Tripology staff and actively started looking for a new investor and/or strategic partner.

Tripology, a free service for consumers, has developed a community of over 13,800 travel specialists and has processed over 130,000 trip requests from online travelers since launch in 2007. 

In the next few days, while the company looks to secure a new investor, agents may continue to buy leads using any existing paid and free credits they have on file with Tripology.

Further announcements will be made as developments occur.