Ctrip announces the acquisition of
Skyscanner. Important facts about Ctrip and Skyscanner deal that you should
know:
Skyscanner. Important facts about Ctrip and Skyscanner deal that you should
know:
Skyscanner:
Skyscanner was founded by Gareth
Williams. The company is based out of Scotland. Interestingly, the company was
formed as a result of Gareth Williams’ frustration with finding cheap flights.
Williams. The company is based out of Scotland. Interestingly, the company was
formed as a result of Gareth Williams’ frustration with finding cheap flights.
Skyscanner lets its users compare
prices from different travel sites when searching for flights, hotels, and
rental cars. It currently serves 60 million monthly active users. The website is
available in over 30 languages.
prices from different travel sites when searching for flights, hotels, and
rental cars. It currently serves 60 million monthly active users. The website is
available in over 30 languages.
Ctrip:
Ctrip
was founded in China in the year 1999. Ctrip is China’s largest online travel company. Ctrip’s
revenue for Q3 2016, stood at RMB 5.6 billion ($810 million). This figure is up
75 percent year-on-year, with a slim $4 million net profit.
was founded in China in the year 1999. Ctrip is China’s largest online travel company. Ctrip’s
revenue for Q3 2016, stood at RMB 5.6 billion ($810 million). This figure is up
75 percent year-on-year, with a slim $4 million net profit.
Road
ahead:
ahead:
As per news reports, Ctrip is planning
to convert Skyscanner as a flight-booking business, a road it has already
modestly undertaken. And then Ctrip will integrate its rail, car rental, and
attractions inventory with Skyscanner Ctrip can integrate Skyscanner’s
front-end search technology with Ctrip’s backend fulfillment tech.
to convert Skyscanner as a flight-booking business, a road it has already
modestly undertaken. And then Ctrip will integrate its rail, car rental, and
attractions inventory with Skyscanner Ctrip can integrate Skyscanner’s
front-end search technology with Ctrip’s backend fulfillment tech.
Key
Facts about the deal:
Facts about the deal:
Deal
Size $1.74 billion
Size $1.74 billion
Skyscanner,
based in Scotland, is likely Europe’s largest flight-metasearch player
based in Scotland, is likely Europe’s largest flight-metasearch player
Skyscanner
is available in 30 languages and serves 60 million active users across the
world
is available in 30 languages and serves 60 million active users across the
world
Ctrip
was founded in China in the year 1999.
was founded in China in the year 1999.
The
transaction was majorly in cash
transaction was majorly in cash
