(Press Release) Equitas Capital today announced that it sold its stake in buuteeq, a company started in Chile, headquartered now in Seattle, which powers the web sites for hotels around the world. Buuteeq was acquired by The Priceline Group. Terms of the deal were undisclosed. Buuteeq will continue to operate as an independent business within The Priceline Group.
Equitas Capital was an investor in Buuteeq during its early days in Chile and later through its international expansion. “We sincerely commend CEO and Founder, Forest Key, and his co-founders, Adam Brownstein and Brian Saab, for a terrific success story. They have managed to do what few entrepreneurs in emerging markets such as Chile accomplish, i.e., create a truly global company with a world-class product in record time resulting in an extraordinary outcome for all stakeholders,” said Cristián Shea, Partner at Equitas Capital. “We are proud to have been a part of this exciting enterprise and sincerely hope that Key, Brownstein and Saab’s examples will inspire many other entrepreneurs in South America looking to build best-of-class companies for global or regional marketplaces.”
Buuteeq employs about 200 people, and is actively looking to recruit new employees for its multiple offices. The company recently moved to larger offices in Seattle’s Lower Queen Anne neighborhood, having also operations in Chile where co-founder Brownstein is based, Palo Alto, Calif. and Amsterdam, The Netherlands.