Meet the dynamic duo in the tech, transport and travel industry who sold their business for 8 figures… then bought it back.
David and Ross Fastuca co-founded Locomote, a corporate travel app, in 2012. The cousins had a passion for entrepreneurship and business, and recognised that the corporate travel industry was a poorly serviced and neglected niche that was begging for a leader. They knew that could be them.
The two-man, home-based business had its compelling vision, but David and Ross lacked the technical know-how and skills to turn their idea into a reality and an impactful business. They were trying to do anything and everything, and this took them further away from the vision and mission they had for Locomote - at one point, it even was operating as a digital marketing agency. They knew that something had to change.
There were so many times where we knew the business was about to collapse.
In 2013, David and Ross attended Unconvention, The Entourage’s signature event, and the largest and most transformational conference for entrepreneurs in Australia.
There, they got their first taste of what it was like to be a part of a like-minded community of entrepreneurs and business owners who were also working through the highs and lows of running a business. They also got introduced to the frameworks, strategies and structures that they needed to build a scalable business that would make an impact.
I remember that feeling we got when we were there: these are our people. The community around The Entourage was just so powerful. It’s not just the content and what you learn, it’s the people you meet along the journey that make all the difference.
David and Ross became Founding Members of The Entourage’s flagship program, Accelerate (then Scalable and Saleable), and their business journey changed forever - and for the better.
Within 3 years of working with and learning from The Entourage, David and Ross fulfilled their vision, and grew Locomote into a hugely successful app that redefined corporate travel in Australia.
They grew their team of 3 to a global team of 140 people in a period of 5 years, and started to gain industry-wide recognition with numerous accolades and awards, including: Smart Company’s Top Digital Innovator and Top 5 Fastest Growing Companies, Hot 30 Under 30, and BRW Fast Starters.
In 2016, David and Ross sold Locomote to Travelport.com (NYSE: TVPT) for an 8-figure deal, and completely exited the business 2 years after so they could act as VCs, sit on the board for a number of other businesses, and guide them much like they were guided by The Entourage.
However, when the corporate travel industry was decimated by the COVID-19 pandemic, David and Ross decided to return to their entrepreneurial roots and buy-back Locomote. With the Fastuca Cousins back at the helm of the business, they knew they could continue on its original vision, and become a global household name for making corporate travel hassle-free.
The Entourage gave us focus, they gave us time back, they taught us how to leverage our team to get more out of the business and grow the revenue, and a community and network who could help us grow even more - the effects of The Entourage compounded.