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sold to

Spectrum Equity

October 2018


About the Client

Based in San Francisco, AllTrails is the leading outdoors exploration consumer application, best known for its extensive collection of over 55,000 hiking and biking trails around the world. The Company, founded by Russell Cook and led by Jade Van Doren and Ron Schneidermann, has developed an easy to use mobile application that enables consumers to search, filter and plan their outdoor adventures.

About the deal

GP Bullhound acted as exclusive financial advisor to AllTrails (“the Company”) on its investment and majority recapitalization by Spectrum Equity (“Spectrum”). With the acquisition of AllTrails, Spectrum plans to support the Company’s goal to make the outdoors more accessible to everyone. To advance this initiative, AllTrails will continue to invest in product development, add more trail content around the world and grow its user base. This represents GP Bullhound’s 19th transaction in 2018 and further emphasizes GP Bullhound’s track record of working with leading global digital media and online content companies, following recent transactions completed for clients including the sale of Gamer Network to RELX Group, Vemory to GoPro and Media Partisans to FUNKE Mediengruppe.


Jade Van Doren, CEO of AllTrails, said: “We’re thrilled to have Spectrum as our new partner as we continue to innovate on our products, expand our trail coverage around the world and support our passionate community of users. GP Bullhound has been a great advisory partner and their expertise and relationships in the sector proved invaluable in delivering this transaction for us.”
Alec Dafferner, Partner, and Eric Crowley, Vice President, at GP Bullhound added: “It’s been a pleasure working with Jade, Ron and the team at AllTrails in helping them on this next step in their journey. They’ve built an amazing platform, delivering true value to consumers and we’re excited to follow their progress over the coming years.”