Friday, September 24, 2010
AdventureLink Being Sold, In Foreclosure
Altadena-based AdventureLink, an operator of an online marketplace for adventure travel, is being sold in a foreclosure sale today, after being foreclosed upon by its lenders, according to a public notice published by its lenders. According to the notice, the firm is being sold for default in the payment of debt and performance of its obligations, by lender Vencore Solutions. The firm is being sold--today--at 11am, in a public auction being held by TroyGould PC, the Los Angeles law firm. AdventureLink had been attempting to build an online marketplace where consumers could purchase and book adventure travel trips, eco tours, and other travel. The firm had raised funding back in 2009, raising somewhere around $3.72M, based on announcements and regulatory filings. The firm's former CEO, former Yahoo VP Jeff Dossett, shows on his LinkedIn profile that he departed the firm sometime this month.