Skyscanner

Last updated

Skyscanner Ltd.
Company type Subsidiary
IndustryTravel
Founded2003;21 years ago (2003)
Founders
  • Gareth Williams
  • Barry Smith
  • Bonamy Grimes
Headquarters
Edinburgh, Scotland
,
UK
Key people
Revenue£261 million (2016) [1]
Number of employees
1,200+ (2024) [2]
Parent Trip.com Group
Website www.skyscanner.com

Skyscanner Ltd. is a search aggregator and travel agency based in Edinburgh, Scotland and operating since 2003.

Contents

History

The company was formed by three information technology professionals. [3] The Edinburgh office was opened in 2004. [4]

In 2009, the year after SEP invested in the business, Skyscanner reported its first profit. [5]

In 2011, Skyscanner acquired Zoombu. [6] Skyscanner opened an office in Singapore in September 2011, which is headquarters for its Asia-Pacific operations. [7] In 2012, a Beijing office was added, as Skyscanner began a partnership with Baidu, China's largest search engine. [8]

By 2013, the company employed over 180 people. [9] In February 2013, Skyscanner announced plans to open a United States base in Miami. [9] In October 2013, Sequoia Capital purchased an interest in Skyscanner that valued the company at $800 million. [10] In June 2014, Skyscanner acquired Youbibi, a travel search engine company based in Shenzhen, China. [11]

By February 2015, the company employed 600 people, double the employment of 18 months earlier. [12]

In January 2016, the company raised $192 million based on a $1.6 billion valuation for the company. [13]

In November 2016, a Chinese company Trip.com Group (formerly Ctrip) bought Skyscanner for $1.75 billion. [14] Following the sale to Ctrip, Skyscanner's largest shareholder, SEP, completed its exit from the business. [15]

In 2017, Ctrip bought the Trip.com domain and launched Trip.com. The original platform became a subsidiary of Skyscanner. [16]

In 2020, after COVID-19, the company announced that it would lay off 300 employees (20% of its staff). It was likely to close two offices in Budapest, Hungary and Sofia, Bulgaria. [17]

See also

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References

  1. Field, Matthew (4 October 2019). "Skyscanner soars to record revenues under Chinese ownership". The Telegraph.
  2. "United by a love of travel".
  3. Trapp, Roger (18 February 2006). "How to launch a great business". The Independent .
  4. "In pictures: inside Skyscanner's head office". Edinburgh Evening News. Retrieved 14 November 2023.
  5. "Travel firm secures major investment". BBC News. 12 January 2016. Retrieved 21 April 2020.
  6. Butcher, Mike (17 January 2011). "Travel search engine Skyscanner acquires Zoombu". TechCrunch .
  7. "Skyscanner to set up operation in Singapore". BBC News . 26 June 2011.
  8. "Skyscanner lands China search engine deal". BBC News . 23 August 2012.
  9. 1 2 "Flight firm Skyscanner moves in to America". BBC News . 4 February 2012.
  10. "Skyscanner valued at $800m by backer of Apple". The Evening Standard . 3 October 2013.
  11. "Skyscanner buys Chinese metasearch firm Youbibi". BBC News . 25 June 2014.
  12. Russell, Jon (23 February 2015). "Skyscanner optimistic as revenue growth slows". Financial Times .
  13. Shu, Catherine (12 January 2016). "Travel Search Site Skyscanner Raises $192M For International Expansion". TechCrunch .
  14. Dickie, Mure (23 November 2016). "China's Ctrip is buying flight search company SkyScanner for $1.74 billion". TechCrunch .
  15. "Scottish Equity Partners exits Skyscanner following £1.4 billion sale". Growth Business. 9 December 2016. Retrieved 21 April 2020.
  16. Bort, Julie (1 November 2017). "Tiny startup Trip.com has been acquired by Chinese travel giant Ctrip – a move that could shake up the travel industry". Business Insider .
  17. Rafiah, Moshe (14 July 2020). "A Skyscanner update". Skyscanner.