Vimal Khosla has sold his online travel business to Lastminute.com for £12m.
Khosla and his wife Gill are among the first dotcom millionaires created since the crash of the industry in 2000, making more than £6.6m from the deal.
The couple founded Travelselect 19 years ago as an offline flight wholesaler from their home, and became one of the first to put their business online in 1998.
Khosla admits he is not the "classic dotcom type" and the only reason he went online was to compete against the other travel companies.
He has no plans to retire, however. Under the deal he will join the Lastminute board and run the flights business. His wife will stay at the enlarged company too.
Lastminute waited until the business was profitable before buying it. Sales for Travelselect have been growing by more than 40 per cent a year and more than 80 per cent of its turnover is online.
At the height of the dotcom bubble Travelselect was worth more than £63.3m.
Lastminute's chief executive Brent Hoberman said the sale will accelerate the UK business's move into profit and triple the company's UK flight revenues to £50m a year.
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