VENTURE BURN - Apr 16 - Since its re-launch in 2006, WAYN has managed to become one of the few social startups to secure funding despite a recent downturn in social media investment. In 2006, WAYN secured series A funding to the tune of US$11M, then $5.5M in 2012. It houses user data for 21.5M users in 193 different countries. Advertising and user monetisation have become the company’s two main sources of revenue. The company has offices in London, New York, Cape Town, Szczcecin (Poland) and New Delhi (India) with plans to ‘open up to’ other emerging markets such as Brazil, China and Russia in coming months. By having signed deals with companies like India Today Group (ITG), Indonesian Tourism, Airbnb and South Africa Tourism, WAYN has managed to gain access to millions of people’s travel data in countries with a strong growing middle class. Users can pay up to $14.99 for a VIP subscription. Premium VIP members accounts for 1% of the site’s users but for 10% of user traffic.