Peek snaps up troubled tours and activities rival Zozi

Peek, a tours and activities platform based in San Francisco, acquired Zozi, a rival that has seen some drama in recent months. Terms of the transaction were not disclosed.

Terms of the transaction were not disclosed.

All merchants participating in Zozi will move to the Peek Pro platform, and Peek chief executive Ruzwana Bashir said the company will “bring together key members of the Peek and Zozi teams to ensure we have the absolute best talent in the space to better serve tour operators globally.”

Like Peek, Zozi served both consumers and tour and activities operators but intended to “pivot” from a consumer-facing booking platform to a software provider to merchants.

Although it has attracted investments from Sir Richard Branson and the Pritzker family, including a $30 million round two years ago, Zozi struggled in what has become an increasingly competitive field.

Earlier this year, rumors began to circulate that it was looking for a buyer, a strategy that was confirmed last month by acting CEO Elon Boms after Zozi laid off 30% of its staff.

Peek was considered a frontrunner to acquire the company. It grew tenfold in the last two years, and last summer completed a $10 million funding round led by Trulia.

Peek used the funding to open a new regional office in Salt Lake City, Utah, and to invest in its Peek Pro bookings and reservations management platform.

Meanwhile, T J Sassani, Zozi’s founder and original CEO sued the company last month for wrongful dismissal and a litany of other complaints, including discrimination, retaliation and intentional infliction of emotional distress.

The board had parted company with Sassani in January, but few employees noticed, given Sassani’s long absences due to what he said was ulcerative colitis.

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