Spencer Newman founded Adventurous Traveler Bookstore in 1994. Focusing on outdoor travel information, the bookstore sold via a retail location, the internet, and a mail order catalogue, and was soon recognized as a leader in this specialty market.

In 1999, the company closed its retail operation and changed its name to AdventurousTraveler.com. It was also at this time that Spencer entered the world of venture capital fundraising. He engineered a successful round of funding led by Green Mountain Capital, and was closing a second round of funding led by Fresh Tracks Capital when AdventurousTraveler.com merged with Away.com, a premiere online travel site. Along with raising an additional $16.5 million in capital from Gannett, Softbank, New World Ventures, and Village Ventures, the combined company is now poised to lead the specialty "extraordinary travel" market on the web.

Prior to founding Adventurous Traveler, Spencer ran the Northwest Sales and Book Purchasing division of Peregrine Outfitters, a Burlington area outdoor products distributor.

Spencer graduated Magna Cum Laude from Tufts in 1990, and enjoys travel just about anywhere as long as he can be outside.