Tech-enabled bus booking platform Buster has been acquired by Chicago-based Busbank, another booking engine for group transportation. The terms of the transaction were not disclosed.
Buster was founded in 2012 by Matthew Kochman, a former General Manager for Uber in NYC, who left Buster in 2016. The company had raised $4.1M over three rounds and investors in the company include General Catalyst, Allen & Company, Red Sea Ventures, and Brand New Matter.
Given a number of factors including – Buster’s last round was in 2016, web traffic was down 44% in June with only 10% of the traffic coming from the US according to SimilarWeb, and the press release quotes from both sides mentioning nothing about the acquisition and/or future plans – points to this likely being a fire sale or acqui-hire situation.