Brand
Why Travel Brand Lost In Is Snapping Up Travelgram And Other Social Accounts
Lost In, a travel media brand led by former Jukin Media executives, is expanding its digital footprint by acquiring several travel-related social media accounts.
As Axios reports, the move is part of the company’s larger roll-up strategy, which launched in June with $4 million in seed funding.
CEO Jonathan Skogmo confirmed that Lost In has acquired a Facebook group called View from My Window and an Instagram account called Travelgram and Landscapes. These acquisitions bring a combined audience of more than 5 million followers to Lost In’s network.
Lost In’s investment bank, Digital Media Capital Advisors, facilitated the deals, which involved a mix of cash and equity.
The company sees these acquisitions as opportunities to leverage strong brand names and engaged online communities. Skogmo notes that popular hashtags, such as Travelgram, were a factor in the selection process.
Lost In, currently operating with about 12 employees in Venice, California, is actively hiring for production roles. It plans to continue posting new content to each account and using them for cross-promotion and content testing.
According to the Axios report, the startup is in discussions to raise additional funds for larger acquisitions. It targets companies with revenues between $7 million and $30 million and plans to launch its 27th print guidebook soon.
This expansion follows Lost In’s July acquisition of Bring Me! from BuzzFeed, which included approximately 8,000 video assets and over 6 million followers.
In May, Vivek Ramaswamy, former Republican presidential candidate and BuzzFeed’s second-largest Class A shareholder with an 8.37% stake, outlined a three-phase turnaround plan for the digital media company.
The company’s market capitalization languished around $100 million, down over 75% from its $1.5 billion valuation when it went public in December 2021.
In phase one, Ramaswamy called for BuzzFeed to “get back to startup size” through major staffing reductions and asset divestitures, which may be the reason for the Bring Me! sale.
