Irish serial entrepreneur winds up Dubai venture

Serial entrepreneur Paul Kenny, who sold his last business for €30 million, is shutting his latest venture due to funding issues.

1st February, 2015

The Dubai-based holiday deals website Safarna was founded 15 months ago, backed by New York hedge fund Tiger Global Management.

It aimed to tap into a $50 billion Middle East travel market and be the leading travel agency in the region, initially growing at a rate of 10 per cent a month.

“We had to make the announcement last week,” Kenny said in a call from Dubai last Friday. “It wasn’t an easy decision. Now we’re looking after...

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