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Skyscanner sold for £1.4bn to Chinese travel giant Ctrip

Skyscanner, a leading flight comparison site set up in 2003, has been bought by Ctrip, China’s biggest online travel company for £1.4bn ($1.74bn), it was announced today. The deal is expected to be complete by the end of 2016.

The Scotland-based company has more than 60m active users per month and was valued at $1.6 billion in a funding round in January. It is one of several UK-based unicorns (startups valued at $1bn+).

Ctrip has said that the companies will continue to be managed separatelyand Gareth Williams, CEO and co-founder of Skyscanner, said in a video announcment,”it’s an exciting time that allows us in the future to bring even better tools to travelersall over the world.”

Read more here.

By UKBAA24 Nov 2016