Interview: Skyscanner’s CEO on the Ctrip Acquisition and the Future of Metasearch
Photo Credit: Skyscanner CEO Gareth Williams. His company has been acquired by Ctrip for $1.7 billion. VisMedia / VisMedia
Skift Take
As CEO Gareth Williams says, the Ctrip deal means that nothing and everything changes for Skyscanner. The focus of the business and the growth plans will remain in place but getting a wealthy new owner from the world's fastest-growing travel market will bring a multitude of new opportunities.
Ctrip’s pending $1.74 billion acquisition of UK metasearch website Skyscanner happened fast -- even as the company was exploring a 2017 initial public offering.
It only took between two and three months – from first meeting to final signing – to conclude the biggest European travel tech deal of the year. Perhaps that’s why the management teams were able to keep it under wraps.
Despite the deal seemingly coming out of nowhere, the signs were plentiful that something big was going to happen at Skyscanner.
One of its biggest investors, venture capital firm Scottish Equity Partners, started tongues wagging when co-founder Stuart Paterson told Business Insider that an IPO in 2017 was part of the plan.
Then a month ago Bloomberg reported that both a sale and IPO were being explored. No names were mentioned and hence the widespread surprise last week when Ctrip announced it would buy Skyscanner.
It's unclear whether there were other bidders for Skyscanner other than t
