Skyscanner was initially valued at £ 1.2 bn during £30 m fundraising effort prior this
year but the price paid by Ctrip is at eighty times more of its annual profit i.e.
£1.4 bn. As Williams and his co-founders will have sold their shares and deal is
done with blessings of largest investor Venture capital firm Scottish equity
partners. Scottish equity partners will sell out its one-third for more than £465 m
to make room for new investors. Its investors include Sequoia, Artemis, Baillie
Gifford, Vitruvian Partners. The purchase is mainly in cash with the remainder
consisting of equity and loans.
As per the Ctrips co-founder, Liang Jianzhang ‘current acquisition will strengthen
long-term growth for both the companies and will also compliment for our
positioning in global scale’. Skyscanner and ctrip share the same dedication and
position offering better services to travelers all around the world so this
acquisition will strengthen long-term growth for both companies as Ctrip will
leverage the experience and technology to skyscanners. According to James the
investment will strengthen the situation on the global level and will supply its
customers in all parts of the world. This investment will assist to develop a global
travel ecosystem to serve better to both the existing and potential clients.
Skyscanner is topmost leading global travel search site where people are inspired
to book by planning by observing many travel options at the best rates. Over sixty
million people who utilize it every month can trust the comprehensive range of
hotels, flight, and car hire. It is founded in 2003 that employ over eight hundred
staff. The company said that this current acquisition will help a lot to offer many
users a perfect array of options that will combine rail, air, and road travel.